Goldman Sachs Group Inc. reduced its position in shares of Altisource Residential Corporation (NYSE:RESI) by 24.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 185,268 shares of the real estate investment trust’s stock after selling 58,403 shares during the period. Goldman Sachs Group Inc. owned approximately 0.35% of Altisource Residential Corporation worth $2,825,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the stock. Quantbot Technologies LP raised its stake in 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 acquired a new stake in Altisource Residential Corporation during the first quarter valued at $157,000. GSA Capital Partners LLP acquired a new stake in Altisource Residential Corporation during the fourth quarter valued at $144,000. Independent Portfolio Consultants Inc. acquired a new stake in Altisource Residential Corporation during the first quarter valued at $286,000. Finally, Tudor Investment Corp ET AL raised its stake in Altisource Residential Corporation by 78.1% in the first quarter. Tudor Investment Corp ET AL now owns 25,627 shares of the real estate investment trust’s stock valued at $391,000 after buying an additional 11,240 shares during the period. Institutional investors and hedge funds own 74.09% of the company’s stock.
Altisource Residential Corporation (RESI) opened at 12.22 on Friday. The firm has a 50-day moving average of $12.78 and a 200 day moving average of $13.70. Altisource Residential Corporation has a 52-week low of $9.86 and a 52-week high of $15.66. The company’s market cap is $652.05 million.
Altisource Residential Corporation (NYSE:RESI) last announced its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by $0.30. Altisource Residential Corporation had a negative net margin of 378.17% and a negative return on equity of 21.82%. The firm had revenue of $30.10 million for the quarter, compared to the consensus estimate of $32.55 million. During the same period in the prior year, the business earned ($1.16) earnings per share. The company’s revenue for the quarter was up 250.0% on a year-over-year basis. Equities research analysts expect that Altisource Residential Corporation will post ($1.89) earnings per share for the current fiscal year.
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Several equities research analysts recently weighed in on the stock. Northland Securities reiterated a “buy” rating and set a $17.00 price objective on shares of Altisource Residential Corporation in a research note on Thursday, August 10th. BidaskClub upgraded shares of Altisource Residential Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded shares of Altisource Residential Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, ValuEngine upgraded shares of Altisource Residential Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Altisource Residential Corporation has an average rating of “Hold” and an average target price of $15.67.
About Altisource Residential Corporation
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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