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.
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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.
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