Altisource Residential (RESI) Rating Lowered to Strong Sell at ValuEngine

Altisource Residential (NYSE:RESI) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday.

A number of other research firms have also recently commented on RESI. JMP Securities upgraded shares of Altisource Residential from a “market perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a report on Tuesday, January 30th. Zacks Investment Research cut shares of Altisource Residential from a “hold” rating to a “strong sell” rating in a report on Saturday, January 13th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. Altisource Residential presently has a consensus rating of “Hold” and a consensus target price of $15.33.

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Shares of NYSE RESI traded down $0.28 during mid-day trading on Thursday, reaching $9.96. The company had a trading volume of 217,486 shares, compared to its average volume of 353,801. Altisource Residential has a 52 week low of $9.56 and a 52 week high of $15.66.

Altisource Residential (NYSE:RESI) last posted its quarterly earnings results on Thursday, March 1st. The real estate investment trust reported ($0.70) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.11). The company had revenue of $27.80 million during the quarter, compared to the consensus estimate of $32.77 million. Altisource Residential had a negative return on equity of 25.77% and a negative net margin of 196.93%. The company’s revenue for the quarter was up 129.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.14) earnings per share. equities research analysts anticipate that Altisource Residential will post -1.55 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of RESI. QS Investors LLC bought a new position in Altisource Residential during the 4th quarter worth about $128,000. Ladenburg Thalmann Financial Services Inc. bought a new position in Altisource Residential during the 3rd quarter worth about $151,000. SG Americas Securities LLC grew its holdings 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 worth $169,000 after acquiring an additional 6,462 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Altisource Residential during the 4th quarter worth about $208,000. Finally, Wolverine Trading LLC grew its holdings in Altisource Residential by 109.4% during the 4th quarter. Wolverine Trading LLC now owns 20,526 shares of the real estate investment trust’s stock worth $243,000 after acquiring an additional 10,726 shares in the last quarter. Institutional investors own 79.28% of the company’s stock.

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Altisource Residential Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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