Zacks Investment Research upgraded shares of Reis, Inc (NASDAQ:REIS) from a hold rating to a strong-buy rating in a report published on Saturday morning. Zacks Investment Research currently has $21.00 target price on the business services provider’s stock.
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. “
Other equities research analysts also recently issued reports about the company. B. Riley reaffirmed a buy rating and set a $26.00 price target on shares of Reis in a report on Thursday, August 3rd. TheStreet downgraded Reis from a b- rating to a c+ rating in a report on Friday, August 4th. Finally, ValuEngine raised Reis from a sell rating to a hold rating in a report on Friday, September 22nd. One research analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $23.33.
Shares of Reis (NASDAQ REIS) traded up $0.15 during midday trading on Friday, hitting $18.45. The company had a trading volume of 2,800 shares, compared to its average volume of 9,434. Reis has a 52-week low of $15.95 and a 52-week high of $23.63. The firm has a market capitalization of $211.58, a P/E ratio of 184.50 and a beta of 1.14.
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In other Reis news, COO William Sander sold 5,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $18.00, for a total value of $90,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 21.60% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in REIS. Vanguard Group Inc. raised its stake in shares of Reis by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 359,643 shares of the business services provider’s stock worth $6,438,000 after buying an additional 14,994 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Reis by 5.0% during the 1st 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. Dimensional Fund Advisors LP raised its stake in shares of Reis by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 851,253 shares of the business services provider’s stock worth $15,237,000 after buying an additional 5,222 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Reis by 4.7% during the 1st quarter. Renaissance Technologies LLC now owns 311,700 shares of the business services provider’s stock worth $5,579,000 after buying an additional 13,900 shares during the last quarter. Finally, Strs Ohio raised its stake in shares of Reis by 6.0% during the 2nd quarter. Strs Ohio now owns 22,900 shares of the business services provider’s stock worth $486,000 after buying an additional 1,300 shares during the last quarter. 59.71% of the stock is owned by institutional investors and hedge funds.
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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