Apella Capital LLC Takes Position in The Real Brokerage Inc. $REAX

Key Points

• Apella Capital LLC has purchased a new stake in The Real Brokerage Inc., acquiring 55,746 shares valued at approximately $230,000 during the 2nd quarter.
• The Real Brokerage announced a $150 million share buyback program, indicating the board's belief that its shares are undervalued.
• The stock has a current valuation with a market cap of $998.64 million, and analysts maintain a consensus rating of "Buy" with an average price target of $6.33.

Apella Capital LLC bought a new position in shares of The Real Brokerage Inc. (NASDAQ:REAX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 55,746 shares of the company's stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Rhumbline Advisers raised its position in shares of 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 acquiring an additional 25,684 shares during the last quarter. Strs Ohio acquired a new stake in shares of Real Brokerage during the first quarter worth $72,000. Jane Street Group LLC grew its stake in shares of Real Brokerage by 568.3% during the first quarter. Jane Street Group LLC now owns 129,153 shares of the company's stock worth $524,000 after purchasing an additional 109,826 shares during the period. Optimize Financial Inc acquired a new stake in shares of Real Brokerage during the first quarter worth $125,000. Finally, NewEdge Advisors LLC grew its stake in shares of Real Brokerage by 628.0% during the first quarter. NewEdge Advisors LLC now owns 75,089 shares of the company's stock worth $305,000 after purchasing an additional 64,775 shares during the period. Institutional investors own 53.28% of the company's stock.

Real Brokerage Stock Down 1.4%

Shares of NASDAQ:REAX traded down $0.07 during midday trading on Friday, reaching $4.90. The company had a trading volume of 1,831,409 shares, compared to its average volume of 1,219,515. The business's 50 day moving average price is $4.55 and its 200 day moving average price is $4.41. The stock has a market cap of $968.98 million, a PE ratio of -98.00 and a beta of 1.05. The Real Brokerage Inc. has a 1-year low of $3.80 and a 1-year high of $6.61.

Real Brokerage (NASDAQ:REAX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $540.75 million for 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%. On average, research analysts expect that The Real Brokerage Inc. will post -0.1 earnings per share for the current fiscal year.

Real Brokerage declared that its board has approved a stock repurchase plan on Friday, May 30th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 17.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently commented on REAX shares. Jones Trading reaffirmed a "buy" rating and set a $6.00 price objective on shares of Real Brokerage in a research note on Thursday, August 7th. B. Riley began coverage on Real Brokerage in a report on Wednesday, June 25th. They set a "buy" rating and a $7.00 target price on the stock. Finally, Wall Street Zen upgraded Real Brokerage from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $6.33.

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.