Bank of New York Mellon Corp Takes $680,000 Position in The Real Brokerage Inc. $REAX

Key Points

• Bank of New York Mellon acquired 373,597 shares of The Real Brokerage in the second quarter, valued at approximately $680,000 and representing a 0.17% stake. Institutional investors collectively own 53.28% of the company.
• Analyst sentiment is generally positive, with Real Brokerage receiving a consensus “Moderate Buy” rating and an average price target of $50.00, despite some rating and target-price reductions.
• REAX opened at $20.28 and has traded between $15.50 and $52.50 over the past year. The company reported quarterly revenue of $700.58 million and a loss of $0.30 per share, while analysts expect a full-year loss of $0.45 per share.

Bank of New York Mellon Corp bought a new position in The Real Brokerage Inc. (NASDAQ:REAX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 373,597 shares of the company's stock, valued at approximately $680,000. Bank of New York Mellon Corp owned 0.17% of Real Brokerage as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of REAX. Quarry LP increased its position in Real Brokerage by 1,615.9% in the 3rd quarter. Quarry LP now owns 11,256 shares of the company's stock worth $47,000 after purchasing an additional 10,600 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Real Brokerage during the 2nd quarter valued at about $47,000. Lido Advisors LLC bought a new stake in shares of Real Brokerage in the 3rd quarter valued at approximately $42,000. Hudson Bay Capital Management LP bought a new stake in shares of Real Brokerage in the 4th quarter valued at approximately $41,000. Finally, Royal Bank of Canada increased its holdings in Real Brokerage by 126.1% in the first quarter. Royal Bank of Canada now owns 20,754 shares of the company's stock worth $52,000 after buying an additional 11,573 shares during the last quarter. Hedge funds and other institutional investors own 53.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Zelman & Associates raised Real Brokerage to an "outperform" rating in a research report on Friday, August 7th. Edward Jones dropped their price target on shares of Real Brokerage from $50.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. BTIG Research restated a "buy" rating and issued a $35.00 price objective (up from $4.25) on shares of Real Brokerage in a research note on Thursday, August 27th. Wall Street Zen raised shares of Real Brokerage to a "hold" rating in a report on Saturday, September 5th. Finally, Weiss Ratings upgraded shares of Real Brokerage from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Real Brokerage currently has a consensus rating of "Moderate Buy" and an average target price of $50.00.

Real Brokerage Trading Up 9.4%

NASDAQ REAX opened at $20.28 on Friday. The Real Brokerage Inc. has a 1-year low of $15.50 and a 1-year high of $52.50. The company has a 50 day moving average of $20.91 and a 200-day moving average of $21.42. The firm has a market cap of $441.90 million, a price-to-earnings ratio of -28.97 and a beta of 0.79.

Real Brokerage (NASDAQ:REAX - Get Free Report) last announced its earnings results on Tuesday, June 30th. The company reported ($0.30) earnings per share for the quarter. Real Brokerage had a negative return on equity of 25.32% and a negative net margin of 0.72%.The company had revenue of $700.58 million during the quarter. On average, analysts forecast that The Real Brokerage Inc. will post -0.45 earnings per share for the current year.

Real Brokerage Profile

Real Brokerage Inc is a publicly traded, cloud-based residential real estate brokerage headquartered in Toronto, Canada, with operations across the United States and Canada. The company’s platform offers licensed real estate professionals a fully integrated suite of digital tools designed to streamline every phase of the property transaction process, from lead generation to closing.

Through its proprietary technology, Real Brokerage provides agents with transaction management, customer relationship management, digital marketing automation and real-time analytics in a single, user-friendly interface.

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