Altisource Residential (RESI) Posts Wider than Expected Q3 Loss

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Go back to Altisource Residential (RESI) Posts Wider than Expected Q3 Loss

Altisource Residential Corporation Reports Third Quarter 2016 Results; Rental Portfolio more than Doubles During Quarter

November 7, 2016 7:30 AM EST

CHRISTIANSTED, U.S. Virgin Islands, Nov. 07, 2016 (GLOBE NEWSWIRE) -- Altisource Residential Corporation (Residential or the Company) (NYSE: RESI) today reported financial and operating results for the third quarter of 2016.

Third Quarter 2016 Highlights

Completed the acquisition of a highly stabilized portfolio of 4,262 single-family rental homes for an aggregate purchase price of $652.3 million in a seller financed transaction that significantly enhances Residential's presence in new and existing strategic target markets (the HOME SFR Transaction).Increased the rental portfolio during the quarter by 115% over the prior quarter to 8,541 homes.Stabilized... More