Reis Inc (NASDAQ:REIS) Lifted to Hold at Zacks Investment Research
Reis Inc (NASDAQ:REIS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
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 brokerages have also issued reports on REIS. B. Riley reaffirmed a “buy” rating and set a $26.00 price target on shares of Reis in a report on Wednesday, May 10th. Canaccord Genuity reissued a “buy” rating and set a $23.00 target price on shares of Reis in a report on Tuesday, May 9th.
Reis (REIS) traded up 0.24% during mid-day trading on Wednesday, hitting $20.70. 7,477 shares of the stock traded hands. Reis has a one year low of $16.90 and a one year high of $26.57. The stock has a market capitalization of $238.36 million, a PE ratio of 138.00 and a beta of 1.08. The company has a 50 day moving average price of $19.76 and a 200-day moving average price of $19.68.
Reis (NASDAQ:REIS) last announced its quarterly earnings results on Tuesday, May 9th. The business services provider reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $12.13 million for the quarter, compared to analyst estimates of $11.80 million. Reis had a net margin of 4.41% and a return on equity of 2.20%. Equities analysts anticipate that Reis will post $0.26 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 14th. Shareholders of record on Wednesday, June 7th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Monday, June 5th. Reis’s payout ratio is 453.33%.
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In other Reis news, COO William Sander sold 3,525 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $20.79, for a total transaction of $73,284.75. Following the sale, the chief operating officer now directly owns 167,736 shares of the company’s stock, valued at approximately $3,487,231.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 21.60% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Martingale Asset Management L P raised its stake in 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 worth $188,000 after buying an additional 101 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Reis by 81.5% in the first quarter. Advisors Asset Management Inc. now owns 25,828 shares of the business services provider’s stock worth $462,000 after buying an additional 11,598 shares during the last quarter. Bahl & Gaynor Inc. raised its stake in Reis by 6.5% in the first quarter. Bahl & Gaynor Inc. now owns 63,966 shares of the business services provider’s stock worth $1,145,000 after buying an additional 3,905 shares during the last quarter. Geode Capital Management LLC raised its stake in Reis by 5.0% in the first quarter. Geode Capital Management LLC now owns 64,658 shares of the business services provider’s stock worth $1,157,000 after buying an additional 3,057 shares during the last quarter. Finally, State Street Corp raised its stake in Reis by 5.1% in the fourth quarter. State Street Corp now owns 114,542 shares of the business services provider’s stock worth $2,550,000 after buying an additional 5,559 shares during the last quarter. 59.72% of the stock is currently owned by hedge funds and other institutional investors.
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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