Zacks Investment Research upgraded shares of Reis Inc. (NASDAQ:REIS) from a sell rating to a hold rating in a report released on Thursday morning.
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 research analysts have also weighed in on REIS. B. Riley reissued a buy rating and set a $29.00 target price on shares of Reis in a research report on Saturday, August 6th. TheStreet lowered Reis from a buy rating to a hold rating in a research report on Friday, August 19th.
Reis (NASDAQ:REIS) traded down 1.532% during midday trading on Thursday, reaching $20.245. The company’s stock had a trading volume of 12,671 shares. The stock’s 50 day moving average is $20.00 and its 200 day moving average is $22.91. The stock has a market cap of $229.29 million, a P/E ratio of 31.194 and a beta of 1.02. Reis has a 12-month low of $18.16 and a 12-month high of $26.59.
Reis (NASDAQ:REIS) last issued its earnings results on Thursday, August 4th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by $0.02. Reis had a return on equity of 6.35% and a net margin of 14.89%. The business had revenue of $11.60 million for the quarter, compared to analyst estimates of $12.80 million. Analysts anticipate that Reis will post $0.35 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 8th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Tuesday, September 6th. Reis’s dividend payout ratio (DPR) is 104.62%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in REIS. BlackRock Advisors LLC raised its stake in shares of Reis by 1.4% in the second quarter. BlackRock Advisors LLC now owns 4,413 shares of the company’s stock worth $110,000 after buying an additional 59 shares in the last quarter. American International Group Inc. raised its stake in shares of Reis by 0.8% in the second quarter. American International Group Inc. now owns 5,034 shares of the company’s stock worth $125,000 after buying an additional 41 shares in the last quarter. Acrospire Investment Management LLC bought a new stake in shares of Reis during the first quarter worth $181,000. Wedge Capital Management L L P NC bought a new stake in shares of Reis during the second quarter worth $264,000. Finally, Suntrust Banks Inc. bought a new stake in shares of Reis during the second quarter worth $263,000. 59.50% of the stock is currently owned by 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.