Residential Secure Income (LON:RESI) Shares Down 13.3% – Here’s What Happened

Residential Secure Income plc (LON:RESI) shares dropped 13.3% on Thursday . The company traded as low as GBX 7.23 and last traded at GBX 7.25. Approximately 41,100,289 shares changed hands during mid-day trading, an increase of 3,378% from the average daily volume of 1,181,615 shares. The stock had previously closed at GBX 8.36.

Residential Secure Income Price Performance

The company has a market capitalization of £13.41 million, a PE ratio of -9.05 and a beta of 0.46. The business’s 50 day simple moving average is GBX 30.77 and its 200 day simple moving average is GBX 45.36.

Residential Secure Income (LON:RESI) last released its earnings results on Wednesday, June 24th. The company reported GBX 0.60 earnings per share for the quarter. Residential Secure Income had a negative net margin of 30.59% and a negative return on equity of 6.87%. The business had revenue of GBX 1,491 million for the quarter. On average, analysts anticipate that Residential Secure Income plc will post 6.1000003 earnings per share for the current fiscal year.

Residential Secure Income Company Profile

Residential Secure Income plc (ReSI or the Company) (LSE: RESI) is a real estate investment trust (REIT) focused on delivering secure, inflation-linked returns in two sub-sectors in UK residential housing; independent retirement rentals and shared ownership, which are underpinned by an ageing demographic and untapped, strong demand for affordable homes. Our purpose is to deliver affordable, high-quality, safe homes with great customer service and long-term stability of tenure for residents. We achieve this through meeting demand from housing developers (housing associations, local authorities and private developers) for long-term investment partners to accelerate the development of socially and economically beneficial affordable housing.