Zacks: Analysts Expect Altisource Residential Corp (RESI) to Post -$0.65 Earnings Per Share
Wall Street analysts expect Altisource Residential Corp (NYSE:RESI) to report earnings per share (EPS) of ($0.65) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Altisource Residential’s earnings. Altisource Residential posted earnings per share of ($0.37) in the same quarter last year, which indicates a negative year-over-year growth rate of 75.7%. The company is expected to issue its next earnings report on Wednesday, March 7th.
On average, analysts expect that Altisource Residential will report full year earnings of ($3.41) per share for the current financial year. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Altisource Residential.
A number of equities research analysts have recently weighed in on RESI shares. BidaskClub lowered shares of Altisource Residential from a “sell” rating to a “strong sell” rating in a report on Saturday, September 2nd. Zacks Investment Research lowered shares of Altisource Residential from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $15.43.
Shares of Altisource Residential (NYSE RESI) remained flat at $$11.86 on Friday. The company had a trading volume of 847,493 shares, compared to its average volume of 327,966. The stock has a market capitalization of $633.89, a P/E ratio of -3.04 and a beta of 1.95. Altisource Residential has a 1-year low of $10.37 and a 1-year high of $15.66.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.06%. The ex-dividend date is Thursday, December 28th. Altisource Residential’s payout ratio is -15.38%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Voya Investment Management LLC increased its stake in shares of Altisource Residential by 7.7% in the second quarter. Voya Investment Management LLC now owns 28,170 shares of the real estate investment trust’s stock worth $365,000 after buying an additional 2,005 shares during the period. Teachers Advisors LLC increased its position in Altisource Residential by 4.8% during the 2nd quarter. Teachers Advisors LLC now owns 91,336 shares of the real estate investment trust’s stock valued at $1,182,000 after purchasing an additional 4,167 shares during the period. BW Gestao de Investimentos Ltda. increased its position in Altisource Residential by 13.5% during the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 34,985 shares of the real estate investment trust’s stock valued at $453,000 after purchasing an additional 4,173 shares during the period. IndexIQ Advisors LLC increased its position in Altisource Residential by 11.0% during the 2nd quarter. IndexIQ Advisors LLC now owns 55,474 shares of the real estate investment trust’s stock valued at $718,000 after purchasing an additional 5,509 shares during the period. Finally, Rhumbline Advisers increased its position in Altisource Residential by 9.1% during the 2nd quarter. Rhumbline Advisers now owns 68,655 shares of the real estate investment trust’s stock valued at $888,000 after purchasing an additional 5,703 shares during the period. 70.45% of the stock is currently owned by institutional investors.
About Altisource Residential
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Altisource Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altisource Residential and related companies with MarketBeat.com's FREE daily email newsletter.