Geode Capital Management LLC Raises Position in Altisource Residential Corporation (RESI)
Geode Capital Management LLC boosted its stake in shares of Altisource Residential Corporation (NYSE:RESI) by 9.5% during the first quarter, Holdings Channel reports. The firm owned 403,227 shares of the real estate investment trust’s stock after buying an additional 34,987 shares during the period. Geode Capital Management LLC’s holdings in Altisource Residential Corporation were worth $6,149,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Quantbot Technologies LP raised its position in shares of Altisource Residential Corporation by 1,008.9% in the first quarter. Quantbot Technologies LP now owns 9,758 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 8,878 shares during the period. Utah Retirement Systems purchased a new position in shares of Altisource Residential Corporation during the first quarter valued at $157,000. Independent Portfolio Consultants Inc. purchased a new position in shares of Altisource Residential Corporation during the first quarter valued at $286,000. BW Gestao de Investimentos Ltda. purchased a new position in shares of Altisource Residential Corporation during the first quarter valued at $470,000. Finally, American International Group Inc. raised its position in shares of Altisource Residential Corporation by 7.1% in the first quarter. American International Group Inc. now owns 32,233 shares of the real estate investment trust’s stock valued at $492,000 after buying an additional 2,138 shares during the period. 74.07% of the stock is owned by institutional investors and hedge funds.
Altisource Residential Corporation (NYSE RESI) traded up 0.24% during midday trading on Wednesday, hitting $12.39. The company’s stock had a trading volume of 21,884 shares. The company’s 50 day moving average price is $13.03 and its 200 day moving average price is $13.67. The firm’s market cap is $663.05 million. Altisource Residential Corporation has a 12 month low of $9.76 and a 12 month high of $15.66.
Altisource Residential Corporation (NYSE:RESI) last issued its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by $0.30. Altisource Residential Corporation had a negative net margin of 503.37% and a negative return on equity of 21.07%. The business had revenue of $30.10 million for the quarter, compared to the consensus estimate of $32.55 million. During the same period in the previous year, the firm earned ($1.16) EPS. The company’s revenue was up 250.0% on a year-over-year basis. Analysts expect that Altisource Residential Corporation will post ($2.04) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend was Wednesday, June 28th. Altisource Residential Corporation’s payout ratio is -14.02%.
Several equities analysts have weighed in on the company. Zacks Investment Research raised Altisource Residential Corporation from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective for the company in a report on Wednesday, May 3rd. BidaskClub lowered Altisource Residential Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, ValuEngine raised Altisource Residential Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $15.50.
In other Altisource Residential Corporation news, CEO George G. Ellison acquired 10,000 shares of the business’s stock in a transaction dated Thursday, May 11th. The stock was purchased at an average price of $14.24 per share, with a total value of $142,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.12% of the company’s stock.
Altisource Residential Corporation 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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