Real Brokerage (NASDAQ:REAX) Upgraded at B. Riley

B. Riley upgraded shares of Real Brokerage (NASDAQ:REAX) to a strong-buy rating in a research note issued to investors on Tuesday, Marketbeat reports.

Separately, Jones Trading restated a “buy” rating and issued a $6.00 price objective on shares of Real Brokerage in a research note on Thursday, March 6th.

Real Brokerage Stock Performance

Shares of REAX opened at $4.40 on Tuesday. The firm has a market cap of $870.10 million, a PE ratio of -62.86 and a beta of 1.04. The firm’s 50 day moving average price is $4.27 and its 200 day moving average price is $4.56. Real Brokerage has a twelve month low of $3.75 and a twelve month high of $6.75.

Real Brokerage (NASDAQ:REAX) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. Real Brokerage had a negative net margin of 1.09% and a negative return on equity of 49.13%. The firm had revenue of $353.98 million for the quarter, compared to analyst estimates of $332.92 million. On average, sell-side analysts anticipate that Real Brokerage will post -0.1 earnings per share for the current fiscal year.

Real Brokerage announced that its board has authorized a share buyback program on Friday, May 30th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 17.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Real Brokerage

Institutional investors have recently bought and sold shares of the business. Rhumbline Advisers boosted its stake in Real Brokerage by 20.7% during the first quarter. Rhumbline Advisers now owns 150,008 shares of the company’s stock worth $609,000 after buying an additional 25,684 shares in the last quarter. ProShare Advisors LLC boosted its stake in Real Brokerage by 55.6% during the fourth quarter. ProShare Advisors LLC now owns 28,300 shares of the company’s stock worth $130,000 after buying an additional 10,108 shares in the last quarter. Bank of Montreal Can boosted its stake in Real Brokerage by 37.5% during the fourth quarter. Bank of Montreal Can now owns 26,100 shares of the company’s stock worth $120,000 after buying an additional 7,119 shares in the last quarter. Cerity Partners LLC acquired a new stake in Real Brokerage during the fourth quarter worth $665,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Real Brokerage by 8.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,927 shares of the company’s stock worth $262,000 after buying an additional 4,672 shares in the last quarter. Institutional investors and hedge funds own 53.28% of the company’s stock.

About Real Brokerage

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.