BlackRock Inc. raised its holdings in shares of Reis Inc (NASDAQ:REIS) by 6.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 632,686 shares of the business services provider’s stock after acquiring an additional 36,472 shares during the period. BlackRock Inc. owned approximately 5.47% of Reis worth $13,792,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in REIS. The Manufacturers Life Insurance Company raised its stake in Reis by 82.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 7,800 shares of the business services provider’s stock valued at $168,000 after acquiring an additional 3,517 shares in the last quarter. Millennium Management LLC bought a new stake in Reis during the 1st quarter valued at $329,000. Strs Ohio raised its stake in Reis by 14.0% during the 2nd quarter. Strs Ohio now owns 26,100 shares of the business services provider’s stock valued at $568,000 after acquiring an additional 3,200 shares in the last quarter. Finally, Stanley Laman Group Ltd. raised its stake in Reis by 11.3% during the 2nd quarter. Stanley Laman Group Ltd. now owns 29,915 shares of the business services provider’s stock valued at $652,000 after acquiring an additional 3,038 shares in the last quarter. 58.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of REIS stock opened at $22.99 on Thursday. Reis Inc has a 1 year low of $16.74 and a 1 year high of $24.00. The firm has a market cap of $266.10 million, a PE ratio of 143.69 and a beta of 1.04.
Reis (NASDAQ:REIS) last issued its quarterly earnings results on Thursday, August 9th. The business services provider reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.05). Reis had a negative net margin of 10.19% and a positive return on equity of 1.03%. The firm had revenue of $11.98 million for the quarter, compared to analyst estimates of $11.91 million. Sell-side analysts predict that Reis Inc will post 0.06 earnings per share for the current year.
Several analysts have weighed in on REIS shares. B. Riley reaffirmed a “neutral” rating and set a $23.00 target price on shares of Reis in a research note on Friday, August 31st. ValuEngine downgraded Reis from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Zacks Investment Research raised Reis from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Finally, BidaskClub raised Reis from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Reis currently has a consensus rating of “Hold” and a consensus target price of $22.00.
In other news, major shareholder Corp /De/ Moodys purchased 11,570,797 shares of the stock in a transaction dated Saturday, October 13th. The shares were bought at an average cost of $23.00 per share, for a total transaction of $266,128,331.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 21.60% of the stock is currently owned by company insiders.
Reis, Inc, through its subsidiary, Reis Services, provides commercial real estate market information and analytical tools to real estate professionals in the United States. The company maintains a proprietary database containing information on commercial properties, including apartment, office, retail, warehouse/distribution, flex/research and development, self-storage, and seniors and student housing properties in the metropolitan markets and neighborhoods.
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