Shares of Altisource Residential Corp. (NYSE:RESI) have been assigned an average recommendation of “Hold” from the ten ratings firms that are presently covering the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $14.92.
Several equities analysts have recently weighed in on RESI shares. Nomura upgraded Altisource Residential Corp. from a “neutral” rating to a “buy” rating and raised their price objective for the company from $11.00 to $15.00 in a report on Tuesday, August 23rd. Zacks Investment Research cut Altisource Residential Corp. from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 23rd. Citigroup Inc. lifted their price target on Altisource Residential Corp. from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, August 17th. Northland Securities assumed coverage on Altisource Residential Corp. in a report on Thursday, August 18th. They set an “outperform” rating for the company. Finally, Deutsche Bank AG set a $18.50 price target on Altisource Residential Corp. and gave the stock a “buy” rating in a report on Thursday, August 18th.
Large investors have recently modified their holdings of the company. BlackRock Advisors LLC increased its stake in shares of Altisource Residential Corp. by 0.6% in the second quarter. BlackRock Advisors LLC now owns 27,384 shares of the company’s stock valued at $252,000 after buying an additional 161 shares during the period. Laurel Wealth Advisors Inc. increased its stake in Altisource Residential Corp. by 1.9% in the second quarter. Laurel Wealth Advisors Inc. now owns 17,397 shares of the company’s stock worth $160,000 after buying an additional 325 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Altisource Residential Corp. by 4.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 27,130 shares of the company’s stock worth $249,000 after buying an additional 1,217 shares during the last quarter. Magnetar Financial LLC increased its stake in Altisource Residential Corp. by 6.7% in the first quarter. Magnetar Financial LLC now owns 35,504 shares of the company’s stock worth $426,000 after buying an additional 2,239 shares during the last quarter. Finally, Boston Partners increased its stake in Altisource Residential Corp. by 2.4% in the second quarter. Boston Partners now owns 114,997 shares of the company’s stock worth $1,057,000 after buying an additional 2,703 shares during the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.
Altisource Residential Corp. (NYSE:RESI) traded down 1.01% during trading on Monday, reaching $10.79. The company had a trading volume of 397,086 shares. The company has a 50-day moving average price of $10.71 and a 200 day moving average price of $10.46. Altisource Residential Corp. has a one year low of $7.81 and a one year high of $16.00. The company’s market capitalization is $587.68 million.
Altisource Residential Corp. (NYSE:RESI) last announced its quarterly earnings data on Monday, August 8th. The company reported ($1.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $1.30. Altisource Residential Corp. had a negative net margin of 146.96% and a negative return on equity of 10.58%. During the same period in the prior year, the firm posted $0.23 earnings per share. Analysts expect that Altisource Residential Corp. will post ($2.56) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, October 6th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, October 4th. This represents a $0.60 annualized dividend and a yield of 5.50%. Altisource Residential Corp.’s dividend payout ratio (DPR) is presently -18.46%.
About Altisource Residential Corp.
Altisource Residential Corporation is a real estate investment trust (REIT). The Company is focused on acquiring, owning and managing single-family rental properties throughout the United States. The Company operates through the segment focused on the resolution of sub-performing and non-performing mortgages, and acquisition and ownership of rental residential properties.
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