Real Brokerage (NASDAQ:REAX – Get Free Report) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.
A number of other research firms have also weighed in on REAX. B. Riley initiated coverage on shares of Real Brokerage in a report on Wednesday, June 25th. They set a “buy” rating and a $7.00 target price on the stock. Jones Trading restated a “buy” rating and set a $6.00 price target on shares of Real Brokerage in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $6.33.
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Real Brokerage Stock Down 2.7%
Shares of REAX stock opened at $4.97 on Friday. The stock has a market cap of $982.82 million, a PE ratio of -99.40 and a beta of 1.05. The business has a 50-day simple moving average of $4.48 and a 200-day simple moving average of $4.40. Real Brokerage has a 52-week low of $3.80 and a 52-week high of $6.61.
Real Brokerage (NASDAQ:REAX – Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $540.75 million during the quarter, compared to the consensus estimate of $510.58 million. Real Brokerage had a negative return on equity of 35.33% and a negative net margin of 0.78%. Sell-side analysts anticipate that Real Brokerage will post -0.1 earnings per share for the current fiscal year.
Real Brokerage declared that its board has initiated a share repurchase plan on Friday, May 30th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to purchase up to 17.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
Institutional Investors Weigh In On Real Brokerage
Several large investors have recently added to or reduced their stakes in REAX. New York State Teachers Retirement System purchased a new stake in Real Brokerage during the 1st quarter valued at $37,000. Envestnet Asset Management Inc. bought a new stake in shares of Real Brokerage in the second quarter worth approximately $47,000. Thrivent Financial for Lutherans purchased a new position in Real Brokerage in the second quarter worth about $50,000. Diversified Trust Co bought a new stake in shares of Real Brokerage during the 1st quarter valued at about $47,000. Finally, Engineers Gate Manager LP bought a new stake in shares of Real Brokerage during the 2nd quarter valued at about $52,000. Institutional investors and hedge funds own 53.28% of the company’s stock.
Real Brokerage Company Profile
(Get Free Report)
The Real Brokerage Inc, together with its subsidiaries, operates as a real estate technology company in the United States and Canada. It operates in three segments: North American Brokerage, Real Title, and One Real Mortgage. It offers brokerage, title, and mortgage broker services. The company is based in Miami, Florida.
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