RESI

Altisource Residential Corporation

Finance/Real Estate


Presented:04/15/2015
Price:$19.99
Cap:$1.14B
Current Price:$9.70
Cap:$0.87B

Presented

Date04/15/2015
Price$19.99
Market Cap$1.14B
Ent Value$2.43B
P/E Ratio6x
Book Value$23.20
Div Yield11.01%
Shares O/S57.20M
Ave Daily Vol740,000
Short Int4.21%

Current

Price$9.70
Market Cap$0.87B
Altisource Residential Corporation, through its subsidiary, Altisource Residential, L.P., focuses on acquiring, owning, and managing single-family rental properties in the United States. It acquires its single-family rental properties primarily through the acquisition of sub-performing and non-performing loan portfolios. The company is qualified as a real estate investment trust (REIT) under the Internal Revenue Code. As a REIT, its net income would be exempt from federal taxation to the extent that it is distributed as dividends to shareholders. Altisource Residential Corporation was founded in 2012 and is based in Frederiksted, Virgin Islands.

Publicly traded companies mentioned herein: Altisource Asset Management Corp (AAMC), Altisource Portfolio Solutions SA (ASPS), Altisource Residential Corp (RESI), Ocwen Financial Group (OCN)

Highlights

The presenter is long shares of Altisource Residential (RESI), citing underappreciated NAV and a favorable management restructuring forthcoming. The company is in a better position to grow dividends following its spin-off from Altisource Portfolio Solutions and severance of the Ocwen connection. In addition, the presenter is bullish on the possibility of more favorable investor relations, creative financing strategies, and more non-performing loan purchases.

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Idea Discussion

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