Altisource PortfolioSolutions SA reported beneficial ownership of 2,788,402 shares of 's commonstock.
The Luxembourg-based corporation, from which the REIT was in December 2012, acquiredthe common shares in various open-market transactions from March 7 to April 11.It paid a total of about $32.4 million, excluding commissions, for the shares usingits working capital, according to an April 11 filing.
The firm acquired the shares to further align its interests withthe REIT. Altisource Portfolio said it plans to vote its shares in favor of thedirectors nominated by the REIT's board.
The shares beneficially owned by Altisource Portfolio make up5.0% of Altisource Residential's common stock.