Real Brokerage (NASDAQ:REAX) Rating Lowered to "Hold" at Wall Street Zen

Real Brokerage (NASDAQ:REAX - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday.

Other research analysts have also issued reports about the company. Jones Trading reissued a "buy" rating and issued a $6.00 price objective on shares of Real Brokerage in a research report on Thursday, March 6th. B. Riley initiated coverage on Real Brokerage in a research note on Wednesday, June 25th. They set a "buy" rating and a $7.00 target price for the company.

Real Brokerage Trading Up 0.2%

Shares of REAX traded up $0.01 during trading hours on Friday, hitting $4.51. The stock had a trading volume of 820,032 shares, compared to its average volume of 901,565. The company's fifty day simple moving average is $4.27 and its 200 day simple moving average is $4.54. Real Brokerage has a 12-month low of $3.80 and a 12-month high of $6.75.

Real Brokerage (NASDAQ:REAX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. The business had revenue of $353.98 million for the quarter, compared to analyst estimates of $332.92 million. Real Brokerage had a negative return on equity of 49.13% and a negative net margin of 1.09%. On average, equities research analysts forecast that Real Brokerage will post -0.1 earnings per share for the current year.

Real Brokerage announced that its Board of Directors has authorized a stock repurchase plan on Friday, May 30th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to purchase up to 17.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Institutional Trading of Real Brokerage

Several large investors have recently modified their holdings of the business. AWM Investment Company Inc. grew its stake in shares of Real Brokerage by 1.2% during the first quarter. AWM Investment Company Inc. now owns 2,317,865 shares of the company's stock valued at $9,411,000 after acquiring an additional 27,437 shares in the last quarter. Geode Capital Management LLC grew its stake in Real Brokerage by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 1,264,640 shares of the company's stock worth $5,817,000 after purchasing an additional 40,457 shares in the last quarter. Nuveen LLC acquired a new position in Real Brokerage in the first quarter worth about $4,660,000. Jacobs Levy Equity Management Inc. grew its stake in Real Brokerage by 33.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,036,363 shares of the company's stock worth $4,208,000 after purchasing an additional 259,334 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Real Brokerage by 31.6% in the fourth quarter. JPMorgan Chase & Co. now owns 831,829 shares of the company's stock worth $3,826,000 after purchasing an additional 199,913 shares in the last quarter. 53.28% of the stock is currently owned by institutional investors and hedge funds.

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.