Principal Financial Group Inc. Acquires 59,614 Shares of The Real Brokerage Inc. (NASDAQ:REAX)

Principal Financial Group Inc. increased its holdings in shares of The Real Brokerage Inc. (NASDAQ:REAX) by 463.8% in the third quarter, Holdings Channel.com reports. The firm owned 72,467 shares of the company’s stock after purchasing an additional 59,614 shares during the quarter. Principal Financial Group Inc.’s holdings in Real Brokerage were worth $402,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Jane Street Group LLC grew its holdings in shares of Real Brokerage by 488.7% during the third quarter. Jane Street Group LLC now owns 134,089 shares of the company’s stock worth $744,000 after buying an additional 111,312 shares in the last quarter. Barclays PLC boosted its position in Real Brokerage by 337.7% during the 3rd quarter. Barclays PLC now owns 141,188 shares of the company’s stock worth $782,000 after acquiring an additional 108,928 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Real Brokerage by 106.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 595,055 shares of the company’s stock worth $3,303,000 after acquiring an additional 307,016 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Real Brokerage in the second quarter valued at approximately $1,091,000. Finally, Franklin Resources Inc. bought a new stake in shares of Real Brokerage in the third quarter worth $138,000. 53.28% of the stock is currently owned by institutional investors and hedge funds.

Real Brokerage Stock Performance

Shares of REAX stock opened at $4.48 on Monday. The Real Brokerage Inc. has a 52-week low of $1.62 and a 52-week high of $6.75. The stock has a market cap of $885.94 million, a price-to-earnings ratio of -24.89 and a beta of 0.95. The firm’s 50-day moving average is $5.17 and its 200-day moving average is $5.36.

Real Brokerage (NASDAQ:REAX) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.03. Real Brokerage had a negative return on equity of 73.22% and a negative net margin of 2.91%. The firm had revenue of $372.49 million for the quarter, compared to analyst estimates of $334.61 million. During the same quarter in the prior year, the company earned ($0.02) earnings per share. Sell-side analysts predict that The Real Brokerage Inc. will post -0.1 EPS for the current fiscal 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 issued a “buy” rating and a $6.00 target price for the company.

Real Brokerage Profile

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.