Wall Street Zen Upgrades Real Brokerage (NASDAQ:REAX) to “Buy”

Real Brokerage (NASDAQ:REAX) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Friday.

Separately, B. Riley began coverage on Real Brokerage in a report on Wednesday, June 25th. They set a “buy” rating and a $7.00 price objective on the stock.

Real Brokerage Stock Performance

REAX opened at $3.84 on Friday. The firm’s fifty day moving average is $4.19 and its two-hundred day moving average is $4.48. The firm has a market cap of $759.36 million, a PE ratio of -54.86 and a beta of 1.04. Real Brokerage has a twelve month low of $3.80 and a twelve month high of $6.75.

Real Brokerage (NASDAQ:REAX) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The business had revenue of $353.98 million during the quarter, compared to analysts’ expectations of $332.92 million. Real Brokerage had a negative net margin of 1.09% and a negative return on equity of 49.13%. Equities analysts forecast that Real Brokerage will post -0.1 EPS for the current fiscal year.

Real Brokerage declared that its Board of Directors has authorized a share buyback program on Friday, May 30th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to purchase up to 17.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Real Brokerage

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in Real Brokerage by 1.4% in the 1st quarter. Bank of New York Mellon Corp now owns 254,242 shares of the company’s stock valued at $1,032,000 after acquiring an additional 3,436 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Real Brokerage by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,673 shares of the company’s stock valued at $246,000 after purchasing an additional 3,746 shares during the last quarter. Blair William & Co. IL lifted its position in shares of Real Brokerage by 20.0% in the fourth quarter. Blair William & Co. IL now owns 30,000 shares of the company’s stock worth $138,000 after purchasing an additional 5,000 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in shares of Real Brokerage in the fourth quarter worth $25,000. Finally, Golden State Wealth Management LLC boosted its holdings in Real Brokerage by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 12,000 shares of the company’s stock worth $49,000 after purchasing an additional 6,000 shares during 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.