Nuveen LLC Takes $4.66 Million Position in The Real Brokerage Inc. $REAX

Nuveen LLC bought a new stake in The Real Brokerage Inc. (NASDAQ:REAX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,147,729 shares of the company’s stock, valued at approximately $4,660,000. Nuveen LLC owned 0.58% of Real Brokerage at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Aquatic Capital Management LLC purchased a new position in shares of Real Brokerage in the 4th quarter valued at $25,000. New York State Teachers Retirement System purchased a new position in shares of Real Brokerage in the 1st quarter valued at $37,000. Oxford Asset Management LLP purchased a new position in shares of Real Brokerage in the 4th quarter valued at $49,000. Corton Capital Inc. purchased a new position in shares of Real Brokerage in the 4th quarter valued at $51,000. Finally, Diversified Trust Co purchased a new position in shares of Real Brokerage in the 1st quarter valued at $47,000. Hedge funds and other institutional investors own 53.28% of the company’s stock.

Analyst Upgrades and Downgrades

REAX has been the topic of a number of research reports. Wall Street Zen downgraded shares of Real Brokerage from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Jones Trading reaffirmed a “buy” rating and set a $6.00 price target on shares of Real Brokerage in a research note on Thursday, August 7th. Finally, B. Riley began coverage on shares of Real Brokerage in a research note on Wednesday, June 25th. They set a “buy” rating and a $7.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $6.33.

Real Brokerage Stock Performance

REAX opened at $5.13 on Wednesday. The company has a 50-day moving average of $4.23 and a 200-day moving average of $4.41. The company has a market capitalization of $1.01 billion, a P/E ratio of -102.60 and a beta of 1.02. The Real Brokerage Inc. has a 1-year low of $3.80 and a 1-year high of $6.61.

Real Brokerage (NASDAQ:REAX) last released its 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 net margin of 0.78% and a negative return on equity of 35.33%. As a group, sell-side analysts expect that The Real Brokerage Inc. will post -0.1 earnings per share for the current fiscal year.

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

Real Brokerage Company Profile

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.