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Fly News Breaks for March 9, 2016
RESI
Mar 9, 2016 | 08:24 EDT
As noted earlier, JMP Securities cut its rating on Altisource to Market Perform from Outperform. In the wake of the company's fiscal 2015 results, the firm lowered its 2016 FAD estimate for the company to 68c from $1.40 and initiated a 2017 FAD per share estimate of 39c. JMP believes that the company will have difficulty transitioning to a single-family rental company.
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