Altisource Residential Corporation (NYSE:RESI) : 3 analysts are covering Altisource Residential Corporation (NYSE:RESI) and their average rating on the stock is 2.33, which is read as a Buy. 1 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 1, which recommends a Strong Buy affirms that they expect a large upside in the stock from the current levels. A total of 2 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Company shares have received an average consensus rating of Hold for the current week
Altisource Residential Corporation (NYSE:RESI): stock turned positive on Tuesday. Though the stock opened at $8.51, the bulls momentum made the stock top out at $8.99 level for the day. The stock recorded a low of $8.475 and closed the trading day at $8.63, in the green by 1.53%. The total traded volume for the day was 1,688,722. The stock had closed at $8.5 in the previous days trading.
In an insider trading activity, Reiner David B, director of Altisource Residential Corp, executed a transaction worth $96,750 on November 16, 2015. A total of 7,500 shares were purchased at an average price of $12.9. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.
Altisource Residential Corporation is a real estate investment trust (REIT). The Company is focused on acquiring, owning and managing single-family rental properties throughout the United States. It acquires its single-family rental properties primarily through the acquisition of sub-performing and non-performing loan portfolios. It conducts most of its activities through its operating partnership, Altisource Residential, L.P., and its subsidiaries. The Company is engaged in the management of single-family rental properties using Altisource Portfolio Solutions S.A.s (Altisource) vendor network. Its contracted relationships with manufacturers and material suppliers, who are also used by Altisource, enable it to manage the ordering and delivery of flooring, appliances, paint, fixtures and lighting for renovation and unit turn work. It has direct access to Altisources inspection and estimating application. It is managed by Altisource Asset Management Corporation (AAMC).