Zacks Investment Research Downgrades Altisource Residential (RESI) to Strong Sell

Altisource Residential (NYSE:RESI) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Saturday.

According to Zacks, “Altisource Residential Corporation is engaged in the acquisition and ownership of single-family rental assets. Altisource Residential Corporation is based in Frederiksted, U.S. “

Separately, BidaskClub raised shares of Altisource Residential from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.43.

Altisource Residential (RESI) opened at $11.42 on Friday. The stock has a market cap of $610.38, a P/E ratio of -2.93 and a beta of 1.95. Altisource Residential has a 52 week low of $10.37 and a 52 week high of $15.66.

Altisource Residential (NYSE:RESI) last announced its quarterly earnings data on Tuesday, November 7th. The real estate investment trust reported ($0.80) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by ($0.34). Altisource Residential had a negative return on equity of 21.64% and a negative net margin of 266.58%. research analysts predict that Altisource Residential will post -3.36 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of Altisource Residential in the second quarter worth about $114,000. Ladenburg Thalmann Financial Services Inc. acquired a new position in shares of Altisource Residential in the third quarter worth about $151,000. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Altisource Residential in the third quarter worth about $186,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Altisource Residential in the third quarter worth about $231,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Altisource Residential in the second quarter worth about $294,000. Institutional investors own 70.45% of the company’s stock.

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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.

Analyst Recommendations for Altisource Residential (NYSE:RESI)

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