BTIG Research Initiates Coverage on Real Brokerage (NASDAQ:REAX)

BTIG Research initiated coverage on shares of Real Brokerage (NASDAQ:REAX) in a research report issued on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $6.00 price target on the stock. BTIG Research’s price objective would indicate a potential upside of 30.15% from the stock’s previous close.

Real Brokerage Stock Performance

Shares of NASDAQ:REAX opened at $4.61 on Wednesday. The business has a fifty day moving average of $5.29 and a 200-day moving average of $5.31. Real Brokerage has a twelve month low of $1.46 and a twelve month high of $6.75. The firm has a market cap of $911.65 million, a PE ratio of -25.61 and a beta of 0.95.

Real Brokerage (NASDAQ:REAX) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. Real Brokerage had a negative net margin of 2.91% and a negative return on equity of 73.22%. The firm had revenue of $372.49 million for the quarter, compared to analyst estimates of $334.61 million. During the same quarter in the prior year, the firm earned ($0.02) EPS. On average, analysts anticipate that Real Brokerage will post -0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. State Street Corp increased its stake in shares of Real Brokerage by 48.0% in the 3rd quarter. State Street Corp now owns 1,364,358 shares of the company’s stock valued at $7,572,000 after buying an additional 442,612 shares during the period. Geode Capital Management LLC boosted its holdings in Real Brokerage by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,224,183 shares of the company’s stock valued at $6,794,000 after acquiring an additional 14,045 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in Real Brokerage by 106.6% in the third quarter. Harbor Capital Advisors Inc. now owns 595,055 shares of the company’s stock worth $3,303,000 after purchasing an additional 307,016 shares during the period. Charles Schwab Investment Management Inc. increased its position in Real Brokerage by 30.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 294,284 shares of the company’s stock worth $1,633,000 after purchasing an additional 69,343 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Real Brokerage during the 2nd quarter worth about $1,091,000. Institutional investors and hedge funds own 53.28% of the company’s stock.

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.