Franklin Resources Inc. Buys New Stake in The Real Brokerage Inc. (NASDAQ:REAX)

Franklin Resources Inc. purchased a new position in shares of The Real Brokerage Inc. (NASDAQ:REAX) in the third quarter, HoldingsChannel reports. The institutional investor purchased 26,402 shares of the company’s stock, valued at approximately $138,000.

A number of other institutional investors also recently added to or reduced their stakes in REAX. Harbor Capital Advisors Inc. grew its stake in Real Brokerage by 106.6% during the third quarter. Harbor Capital Advisors Inc. now owns 595,055 shares of the company’s stock worth $3,303,000 after buying an additional 307,016 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Real Brokerage during the 2nd quarter worth approximately $1,091,000. Barclays PLC increased its holdings in Real Brokerage by 337.7% during the 3rd quarter. Barclays PLC now owns 141,188 shares of the company’s stock valued at $782,000 after purchasing an additional 108,928 shares in the last quarter. Rhumbline Advisers acquired a new stake in Real Brokerage during the 2nd quarter valued at $474,000. Finally, GSA Capital Partners LLP bought a new position in Real Brokerage in the 3rd quarter valued at $220,000. 53.28% of the stock is owned by institutional investors and hedge funds.

Real Brokerage Price Performance

Real Brokerage stock opened at $4.60 on Friday. The company’s 50-day moving average is $5.18 and its 200-day moving average is $5.33. The firm has a market capitalization of $909.67 million, a PE ratio of -25.55 and a beta of 0.95. The Real Brokerage Inc. has a fifty-two week low of $1.54 and a fifty-two week high of $6.75.

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

Wall Street Analyst Weigh In

Separately, BTIG Research assumed coverage on shares of Real Brokerage in a research report on Wednesday, December 18th. They set a “buy” rating and a $6.00 target price on the stock.

About Real Brokerage

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.