Research analysts at Deutsche Bank began coverage on shares of Altisource Residential Corp (NASDAQ:RESI) in a report released on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $31.00 price target on the stock. Deutsche Bank’s price target suggests a potential upside of 11.71% from the stock’s previous close.
The analysts wrote, “As RESI continues to process its portfolio of sub- and non-performing loans, we expect the portfolio of single family rental properties to grow, generating attractive cash flows. Additionally, given the ownership of the underlying real estate, we expect the value of the portfolio to increase from home price appreciation. We expect the dividend to increase as the portfolio grows, and we are establishing a target of $31 per share, which is based on our year end 2014 book value estimate adjusted for the market value of the portfolio. We are initiating coverage with a Buy rating.”
Shares of Altisource Residential Corp (NASDAQ:RESI) traded up 3.24% on Wednesday, hitting $28.65. The stock had a trading volume of 43,528 shares. Altisource Residential Corp has a one year low of $15.05 and a one year high of $28.17. The stock’s 50-day moving average is $25.81 and its 200-day moving average is $20.68. The company’s market cap is $1.211 billion.
Altisource Residential Corp (NASDAQ:RESI) last announced its earnings results on Tuesday, October 22nd. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.05 by $0.48. The company had revenue of $19.59 million for the quarter, compared to the consensus estimate of $17.49 million. On average, analysts predict that Altisource Residential Corp will post $1.08 earnings per share for the current fiscal year.
RESI has been the subject of a number of other recent research reports. Analysts at Keefe, Bruyette & Woods raised their price target on shares of Altisource Residential Corp from $25.00 to $27.00 in a research note to investors on Wednesday, October 23rd. They now have a “market perform” rating on the stock. Separately, analysts at JMP Securities raised their price target on shares of Altisource Residential Corp from $27.00 to $35.00 in a research note to investors on Wednesday, October 23rd. Finally, analysts at Credit Suisse raised their price target on shares of Altisource Residential Corp from $25.00 to $28.00 in a research note to investors on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $29.00.
Altisource Residential Corporation is a development-stage company engaged in the acquisition and ownership of single-family rental assets.
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