Zacks Investment Research lowered shares of Reis (NASDAQ:REIS) from a hold rating to a sell rating in a report published on Saturday.
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. “
Separately, ValuEngine lowered shares of Reis from a hold rating to a sell rating in a research note on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $23.33.
Reis (NASDAQ:REIS) last announced its quarterly earnings results on Thursday, March 8th. The business services provider reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.01). Reis had a positive return on equity of 2.06% and a negative net margin of 6.55%. The company had revenue of $12.26 million for the quarter, compared to analyst estimates of $12.40 million. research analysts expect that Reis will post 0.26 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Wednesday, March 7th will be given a dividend of $0.19 per share. This is an increase from Reis’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 3.44%. The ex-dividend date is Tuesday, March 6th. Reis’s dividend payout ratio (DPR) is presently 447.06%.
In other Reis news, CEO Lloyd Lynford sold 4,250 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $18.86, for a total transaction of $80,155.00. Following the transaction, the chief executive officer now directly owns 1,303,235 shares of the company’s stock, valued at approximately $24,579,012.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO William Sander sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $20.26, for a total transaction of $101,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 33,785 shares of company stock worth $624,486 over the last three months. 21.60% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of REIS. Rodgers Brothers Inc. purchased a new stake in shares of Reis in the fourth quarter valued at about $257,000. Deutsche Bank AG boosted its holdings in shares of Reis by 147.5% in the fourth quarter. Deutsche Bank AG now owns 20,034 shares of the business services provider’s stock valued at $413,000 after acquiring an additional 11,941 shares in the last quarter. Ranger Investment Management L.P. boosted its holdings in shares of Reis by 9.6% in the fourth quarter. Ranger Investment Management L.P. now owns 135,000 shares of the business services provider’s stock valued at $2,788,000 after acquiring an additional 11,869 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Reis by 9.5% in the second quarter. Northern Trust Corp now owns 134,745 shares of the business services provider’s stock valued at $2,863,000 after acquiring an additional 11,724 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Reis by 8.6% in the second quarter. State Street Corp now owns 130,971 shares of the business services provider’s stock valued at $2,784,000 after acquiring an additional 10,393 shares in the last quarter. 59.03% of the stock is currently owned by institutional investors.
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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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