Reis Inc. (NASDAQ:REIS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
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 research analysts have also recently issued reports on the stock. B. Riley restated a “buy” rating and issued a $28.00 target price on shares of Reis in a report on Monday, November 14th. TheStreet cut shares of Reis from a “buy” rating to a “hold” rating in a report on Friday, August 19th.
Shares of Reis (NASDAQ:REIS) opened at 22.00 on Tuesday. The stock’s 50 day moving average is $20.79 and its 200-day moving average is $22.19. The stock has a market cap of $248.62 million, a PE ratio of 40.15 and a beta of 1.06. Reis has a 1-year low of $18.16 and a 1-year high of $26.59.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Wednesday, December 7th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Monday, December 5th. Reis’s dividend payout ratio is currently 123.64%.
A number of hedge funds have recently modified their holdings of the company. Punch & Associates Investment Management Inc. boosted its stake in shares of Reis by 1.3% in the second quarter. Punch & Associates Investment Management Inc. now owns 286,515 shares of the company’s stock worth $7,134,000 after buying an additional 3,600 shares in the last quarter. Pembroke Management LTD acquired a new stake in shares of Reis during the second quarter worth $1,663,000. Strs Ohio boosted its stake in shares of Reis by 12.4% in the second quarter. Strs Ohio now owns 22,400 shares of the company’s stock worth $557,000 after buying an additional 2,477 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Reis by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 93,206 shares of the company’s stock worth $2,321,000 after buying an additional 3,034 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Reis by 1.5% in the second quarter. California State Teachers Retirement System now owns 18,338 shares of the company’s stock worth $457,000 after buying an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 59.30% of the company’s stock.
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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