Altisource PortfolioSolutions SA boosted its stake in Altisource Residential Corp. to 7.6%, or 4,144,402 commonshares.
Altisource Portfolio, the single-family rental REIT's external-servicesprovider, had previously reportedbeneficial ownership of 2,788,402 shares, or a 5.0% stake, in the company.
Altisource Portfolio acquired an aggregate of 1,356,000 sharesof the REIT's common stock at $12.64 apiece from members of the activist RESI ShareholdersGroup, which had until recently been embroiledin a proxy fight withAltisource Residential over its board composition and corporate strategy.
RESI Shareholders and Altisource Residential on May 11 announceda compromise under whichRESI Shareholders agreed to drop its activist campaign in return for AltisourceResidential appointing two new independent directors to its board.
Altisource Portfolio, from which the REIT was in December 2012, said in an amendedownership filing that it acquired the additional shares to indicate its continuedsupport for the company's management and its current strategy.
Specifically, the sellers were BLR Partners LP, BLRPart LP, BLRGPInc., Fondren Management LP, FMLP Inc., The Radoff Family Foundation and BradleyRadoff.