Reis Inc (REIS) Upgraded at Zacks Investment Research
Reis Inc (NASDAQ:REIS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Reis provide commercial real estate market information and analytical tools to real estate professionals through its Reis Services subsidiary. Reis maintain a proprietary database containing detailed information on commercial properties in metropolitan markets and neighborhoods throughout the U.S. The database contains information on apartment, office, retail, warehouse/distribution, flex/research & development, self storage, seniors housing and student housing properties, and is used by real estate investors, lenders and other professionals to make informed buying, selling and financing decisions. In addition, Reis data is used by debt and equity investors to assess, quantify and manage the risks of default and loss associated with individual mortgages, properties, portfolios and real estate backed securities. Reis currently provide its information services to many of the nation’s leading lending institutions, equity investors, brokers and appraisers. “
Several other equities analysts have also recently weighed in on REIS. Canaccord Genuity reaffirmed a “buy” rating and issued a $23.00 price target on shares of Reis in a research report on Tuesday, May 9th. B. Riley reissued a “buy” rating and set a $26.00 target price on shares of Reis in a research report on Monday.
Shares of Reis (NASDAQ:REIS) opened at 18.40 on Friday. The company’s 50 day moving average price is $18.46 and its 200-day moving average price is $20.04. The firm has a market capitalization of $211.88 million, a PE ratio of 122.67 and a beta of 1.00. Reis has a 52 week low of $16.90 and a 52 week high of $26.57.
Reis (NASDAQ:REIS) last issued its quarterly earnings results on Tuesday, May 9th. The business services provider reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.03. Reis had a return on equity of 5.31% and a net margin of 12.72%. The firm had revenue of $12.13 million during the quarter, compared to the consensus estimate of $11.80 million. On average, equities research analysts expect that Reis will post $0.26 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Wednesday, June 7th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, June 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.70%. Reis’s dividend payout ratio (DPR) is currently 123.64%.
In related news, CFO Mark P. Cantaluppi sold 14,225 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $19.55, for a total value of $278,098.75. Following the completion of the transaction, the chief financial officer now directly owns 119,528 shares in the company, valued at $2,336,772.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO William Sander sold 2,414 shares of the company’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $17.97, for a total transaction of $43,379.58. Following the completion of the transaction, the chief operating officer now owns 180,515 shares of the company’s stock, valued at $3,243,854.55. The disclosure for this sale can be found here. Insiders have sold a total of 47,188 shares of company stock valued at $893,171 over the last 90 days. Company insiders own 22.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Martingale Asset Management L P raised its position in shares of Reis by 1.0% in the first quarter. Martingale Asset Management L P now owns 10,501 shares of the business services provider’s stock valued at $188,000 after buying an additional 101 shares during the period. Congress Asset Management Co. MA bought a new position in shares of Reis during the fourth quarter valued at about $420,000. Keybank National Association OH raised its position in shares of Reis by 8.2% in the fourth quarter. Keybank National Association OH now owns 20,838 shares of the business services provider’s stock valued at $464,000 after buying an additional 1,573 shares during the period. Advisors Asset Management Inc. raised its position in shares of Reis by 81.5% in the first quarter. Advisors Asset Management Inc. now owns 25,828 shares of the business services provider’s stock valued at $462,000 after buying an additional 11,598 shares during the period. Finally, Bahl & Gaynor Inc. raised its position in shares of Reis by 6.5% in the first quarter. Bahl & Gaynor Inc. now owns 63,966 shares of the business services provider’s stock valued at $1,145,000 after buying an additional 3,905 shares during the period. Institutional investors own 60.69% of the company’s stock.
Reis Company Profile
Reis, Inc (Reis) is engaged in providing commercial real estate market information and analytical tools to real estate professionals, through its Reis Services subsidiary. The Company operates through Reis Services segment. It maintains a database containing detailed information on commercial properties in metropolitan markets and neighborhoods throughout the United States.
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