Altisource Residential Corp (RESI) Announces Quarterly Earnings Results, Misses Estimates By $0.33 EPS

Altisource Residential Corp (NYSE:RESI) released its earnings results on Tuesday. The real estate investment trust reported ($0.92) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by $0.33. Altisource Residential Corp had a negative net margin of 338.43% and a negative return on equity of 16.34%. The company had revenue of $29.30 million during the quarter, compared to the consensus estimate of $33.38 million. During the same quarter in the previous year, the business posted $0.30 EPS. The firm’s quarterly revenue was down 26.9% on a year-over-year basis.

Earnings History for Altisource Residential Corp (NYSE:RESI)

COPYRIGHT VIOLATION NOTICE: This story was first published by Markets Daily and is owned by of Markets Daily. If you are reading this story on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this story can be viewed at https://www.themarketsdaily.com/2017/05/20/altisource-residential-corp-resi-announces-earnings-results-updated.html.

Several equities research analysts recently weighed in on RESI shares. Deutsche Bank AG reduced their target price on shares of Altisource Residential Corp from $17.50 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, March 22nd. Instinet reissued a “buy” rating and issued a $18.00 price target (up previously from $15.00) on shares of Altisource Residential Corp in a research report on Monday, March 20th. Zacks Investment Research raised shares of Altisource Residential Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, February 1st. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $14.00 price target on shares of Altisource Residential Corp in a research report on Thursday, March 2nd. Finally, Citigroup Inc increased their price target on shares of Altisource Residential Corp from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Monday, March 20th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $15.50.

In other news, CEO George G. Ellison acquired 20,000 shares of Altisource Residential Corp stock in a transaction dated Friday, March 3rd. The shares were bought at an average cost of $14.47 per share, with a total value of $289,400.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.12% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. GSA Capital Partners LLP purchased a new stake in Altisource Residential Corp during the fourth quarter worth approximately $144,000. Quantbot Technologies LP raised its stake in Altisource Residential Corp by 1,008.9% in the first quarter. Quantbot Technologies LP now owns 9,758 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 8,878 shares in the last quarter. Utah Retirement Systems purchased a new stake in Altisource Residential Corp during the first quarter worth approximately $157,000. Tudor Investment Corp Et Al bought a new position in shares of Altisource Residential Corp during the fourth quarter valued at about $159,000. Finally, Weiss Asset Management LP bought a new position in shares of Altisource Residential Corp during the third quarter valued at about $240,000. 73.38% of the stock is currently owned by institutional investors.

Altisource Residential Corp Company Profile

Altisource Residential Corporation is a real estate investment trust (REIT). The Company focuses on acquiring, owning and managing single-family rental (SFR) properties throughout the United States. The Company conducts its activities through its subsidiary, Altisource Residential, L.P., and its subsidiaries.

12 Month Chart for NYSE:RESI

Receive News & Ratings for Altisource Residential Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altisource Residential Corp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply