1,147,729 Shares in The Real Brokerage Inc. $REAX Purchased by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake in The Real Brokerage Inc., purchasing 1,147,729 shares valued at approximately $4.66 million, representing 0.58% ownership of the company.
• Recent analyst ratings for Real Brokerage show a mix of opinions, with one firm downgrading the stock from "buy" to "hold," while another maintained a "buy" rating with a price target of $6.00.
• The company's board has authorized a significant $150 million stock buyback program, indicating confidence in the stock's value among its directors.

Nuveen LLC bought a new position in The Real Brokerage Inc. (NASDAQ:REAX - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund 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.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Real Brokerage by 694.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 92,781 shares of the company's stock worth $377,000 after buying an additional 81,107 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in Real Brokerage by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 12,000 shares of the company's stock valued at $49,000 after acquiring an additional 6,000 shares during the period. New York State Teachers Retirement System purchased a new position in Real Brokerage in the first quarter worth about $37,000. Avantax Advisory Services Inc. grew its stake in shares of Real Brokerage by 52.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 22,206 shares of the company's stock valued at $90,000 after purchasing an additional 7,621 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Real Brokerage by 20.7% during the 1st quarter. Rhumbline Advisers now owns 150,008 shares of the company's stock valued at $609,000 after purchasing an additional 25,684 shares during the last quarter. 53.28% of the stock is currently owned by hedge funds and other institutional investors.

Real Brokerage Trading Up 3.1%

Real Brokerage stock traded up $0.16 during midday trading on Monday, hitting $5.38. The stock had a trading volume of 1,829,449 shares, compared to its average volume of 2,315,009. The Real Brokerage Inc. has a 52-week low of $3.80 and a 52-week high of $6.61. The company has a market capitalization of $1.06 billion, a PE ratio of -107.60 and a beta of 1.05. The firm's fifty day moving average is $4.34 and its two-hundred day moving average is $4.40.

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

Real Brokerage declared that its Board of Directors has authorized a stock repurchase program on Friday, May 30th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to buy up to 17.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on REAX. B. Riley began coverage on shares of Real Brokerage in a research note on Wednesday, June 25th. They issued a "buy" rating and a $7.00 price objective on the stock. Jones Trading reiterated a "buy" rating and issued a $6.00 price target on shares of Real Brokerage in a research report on Thursday, August 7th. Finally, Wall Street Zen cut shares of Real Brokerage from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat.com, Real Brokerage has an average rating of "Buy" and an average target price of $6.33.

Real Brokerage 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.