Apella Capital LLC Acquires New 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 its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 55,746 shares of the company's stock, valued at approximately $230,000.

Several other large investors also recently made changes to their positions in REAX. Northern Trust Corp boosted its holdings in shares of Real Brokerage by 3.4% in the 4th quarter. Northern Trust Corp now owns 613,573 shares of the company's stock valued at $2,822,000 after buying an additional 19,920 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Real Brokerage during the 4th quarter worth $633,000. Deutsche Bank AG increased its position in shares of Real Brokerage by 52.5% in the fourth quarter. Deutsche Bank AG now owns 84,168 shares of the company's stock worth $387,000 after purchasing an additional 28,985 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Real Brokerage by 8.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,927 shares of the company's stock worth $262,000 after purchasing an additional 4,672 shares during the period. Finally, ProShare Advisors LLC increased its position in shares of Real Brokerage by 55.6% in the fourth quarter. ProShare Advisors LLC now owns 28,300 shares of the company's stock worth $130,000 after purchasing an additional 10,108 shares during the period. Institutional investors and hedge funds own 53.28% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Jones Trading reaffirmed a "buy" rating and issued a $6.00 price objective on shares of Real Brokerage in a research note on Thursday, August 7th. B. Riley initiated coverage on Real Brokerage in a research note on Wednesday, June 25th. They issued a "buy" rating and a $7.00 price objective on the stock. Finally, Wall Street Zen raised Real Brokerage from a "hold" rating to a "buy" rating in a research note 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $6.33.

Real Brokerage Price Performance

Shares of NASDAQ REAX traded down $0.07 during trading on Friday, reaching $4.90. 1,831,409 shares of the stock traded hands, compared to its average volume of 2,944,338. The company has a 50-day moving average of $4.56 and a 200-day moving average of $4.40. The stock has a market capitalization of $968.98 million, a P/E ratio of -98.00 and a beta of 1.05. The Real Brokerage Inc. has a 52-week low of $3.80 and a 52-week high of $6.61.

Real Brokerage (NASDAQ:REAX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $540.75 million for the quarter, compared to analysts' expectations of $510.58 million. Real Brokerage had a negative return on equity of 35.33% and a negative net margin of 0.78%. 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 repurchase plan on Friday, May 30th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 17.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is 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.