Zacks Investment Research upgraded shares of Altisource Residential (NYSE:RESI) from a sell rating to a hold rating in a report published on Wednesday, March 14th.
According to Zacks, “Front Yard Residential Corporation, operates as a Real Estate Investment Trust (REIT). It acquires single-family rental properties primarily through the acquisition of sub-performing and non-performing loan portfolios. Front Yard Residential formerly known as Altisource Residential Corporation, is based in Christiansted, Virgin Islands. “
Several other brokerages also recently commented on RESI. ValuEngine downgraded Altisource Residential from a sell rating to a strong sell rating in a report on Friday, February 2nd. JMP Securities upgraded Altisource Residential from a market perform rating to an outperform rating and set a $15.00 price objective for the company in a research note on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $15.50.
Shares of Altisource Residential (RESI) opened at $10.08 on Wednesday. Altisource Residential has a 52 week low of $9.76 and a 52 week high of $15.66. The stock has a market capitalization of $545.17, a PE ratio of -2.91 and a beta of 1.70.
Altisource Residential (NYSE:RESI) last released its quarterly earnings data on Thursday, March 1st. The real estate investment trust reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.11). The firm had revenue of $27.80 million during the quarter, compared to analysts’ expectations of $32.77 million. Altisource Residential had a negative return on equity of 25.77% and a negative net margin of 196.93%. The business’s revenue for the quarter was up 129.8% compared to the same quarter last year. During the same quarter last year, the business earned ($1.14) earnings per share. research analysts anticipate that Altisource Residential will post -1.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Friday, March 30th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 5.95%. The ex-dividend date of this dividend is Wednesday, March 28th. Altisource Residential’s payout ratio is currently -17.34%.
Institutional investors have recently made changes to their positions in the business. QS Investors LLC bought a new stake in Altisource Residential during the 4th quarter valued at $128,000. Ladenburg Thalmann Financial Services Inc. bought a new stake in Altisource Residential during the 3rd quarter valued at $151,000. SG Americas Securities LLC raised its stake in Altisource Residential by 73.5% during the 3rd quarter. SG Americas Securities LLC now owns 15,248 shares of the real estate investment trust’s stock valued at $169,000 after acquiring an additional 6,462 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in Altisource Residential during the 3rd quarter valued at $186,000. Finally, Teacher Retirement System of Texas bought a new stake in Altisource Residential during the 4th quarter valued at $208,000. 77.73% of the stock is currently owned by hedge funds and other institutional investors.
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About Altisource Residential
Front Yard Residential Corporation, formerly 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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