Short Interest in Altisource Residential Corp (RESI) Drops By 42.7%
Altisource Residential Corp (NYSE:RESI) was the target of a significant decrease in short interest during the month of July. As of July 14th, there was short interest totalling 1,413,175 shares, a decrease of 42.7% from the June 30th total of 2,464,424 shares. Based on an average daily volume of 258,201 shares, the short-interest ratio is presently 5.5 days. Approximately 3.1% of the company’s shares are sold short.
Shares of Altisource Residential Corp (NYSE:RESI) opened at 12.42 on Monday. The company has a 50-day moving average price of $13.03 and a 200 day moving average price of $13.67. Altisource Residential Corp has a 52 week low of $9.76 and a 52 week high of $15.66. The stock’s market capitalization is $664.66 million.
Altisource Residential Corp (NYSE:RESI) last posted its earnings results on Tuesday, May 9th. 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. The business had revenue of $29.30 million for the quarter, compared to the consensus estimate of $33.38 million. Altisource Residential Corp had a negative return on equity of 23.73% and a negative net margin of 168.24%. The business’s revenue was down 26.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Analysts forecast that Altisource Residential Corp will post ($2.59) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, June 28th. This represents a $0.60 annualized dividend and a yield of 4.83%. Altisource Residential Corp’s dividend payout ratio is presently -14.02%.
In related news, CEO George G. Ellison bought 10,000 shares of Altisource Residential Corp stock in a transaction dated Thursday, May 11th. The stock was acquired at an average cost of $14.24 per share, with a total value of $142,400.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.12% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp raised its position in Altisource Residential Corp by 2.8% in the fourth quarter. State Street Corp now owns 1,107,235 shares of the real estate investment trust’s stock valued at $12,225,000 after buying an additional 30,410 shares in the last quarter. Renaissance Technologies LLC raised its position in Altisource Residential Corp by 38.2% in the fourth quarter. Renaissance Technologies LLC now owns 451,225 shares of the real estate investment trust’s stock valued at $4,982,000 after buying an additional 124,625 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Altisource Residential Corp during the fourth quarter valued at $144,000. Norges Bank acquired a new position in Altisource Residential Corp during the fourth quarter valued at $6,813,000. Finally, Teachers Advisors LLC raised its position in Altisource Residential Corp by 2.6% in the fourth quarter. Teachers Advisors LLC now owns 87,169 shares of the real estate investment trust’s stock valued at $962,000 after buying an additional 2,192 shares in the last quarter. Hedge funds and other institutional investors own 73.91% of the company’s stock.
Several brokerages have recently commented on RESI. BidaskClub raised Altisource Residential Corp from a “sell” rating to a “hold” rating in a report on Thursday. Zacks Investment Research raised Altisource Residential Corp from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, ValuEngine raised Altisource Residential Corp from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $15.50.
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About Altisource Residential Corp
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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