Reis, Inc (REIS) Shares Sold by Granite Investment Partners LLC
Granite Investment Partners LLC reduced its position in shares of Reis, Inc (NASDAQ:REIS) by 4.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 87,964 shares of the business services provider’s stock after selling 4,180 shares during the period. Granite Investment Partners LLC’s holdings in Reis were worth $1,869,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in REIS. Martingale Asset Management L P boosted its position in Reis by 1.0% in the first quarter. Martingale Asset Management L P now owns 10,501 shares of the business services provider’s stock worth $188,000 after buying an additional 101 shares during the last quarter. Mraz Amerine & Associates Inc. purchased a new position in Reis during the second quarter worth approximately $200,000. Advisors Asset Management Inc. boosted its position in Reis by 81.5% in the first quarter. Advisors Asset Management Inc. now owns 25,828 shares of the business services provider’s stock worth $462,000 after buying an additional 11,598 shares during the last quarter. Strs Ohio boosted its position in Reis by 6.0% in the second 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. Finally, Bahl & Gaynor Inc. boosted its position in Reis by 6.5% in the first quarter. Bahl & Gaynor Inc. now owns 63,966 shares of the business services provider’s stock worth $1,145,000 after buying an additional 3,905 shares during the last quarter. Institutional investors own 60.43% of the company’s stock.
Reis, Inc (REIS) opened at 18.35 on Friday. Reis, Inc has a 52-week low of $16.90 and a 52-week high of $23.63. The company’s 50-day moving average price is $20.45 and its 200-day moving average price is $19.47. The company has a market cap of $211.25 million, a price-to-earnings ratio of 183.50 and a beta of 1.08.
Reis (NASDAQ:REIS) last posted its earnings results on Tuesday, August 1st. The business services provider reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $11.71 million during the quarter, compared to analyst estimates of $12.20 million. Reis had a return on equity of 1.20% and a net margin of 2.49%. Equities research analysts expect that Reis, Inc will post $0.16 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Wednesday, June 7th were issued a dividend of $0.17 per share. The ex-dividend date was Monday, June 5th. This represents a $0.68 dividend on an annualized basis and a yield of 3.71%. Reis’s dividend payout ratio is currently 680.07%.
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A number of research analysts have recently commented on REIS shares. TheStreet upgraded Reis from a “c” rating to a “b-” rating in a research note on Monday, July 3rd. B. Riley reaffirmed a “buy” rating and set a $26.00 price objective on shares of Reis in a research report on Wednesday, May 10th. Canaccord Genuity reaffirmed a “buy” rating and set a $23.00 price objective on shares of Reis in a research report on Tuesday, May 9th. Finally, Zacks Investment Research raised Reis from a “sell” rating to a “hold” rating in a research report on Friday, May 19th.
In other Reis news, COO William Sander sold 3,525 shares of the company’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $20.79, for a total transaction of $73,284.75. Following the completion of the sale, the chief operating officer now owns 167,736 shares in the company, valued at $3,487,231.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 21.60% of the stock is owned by corporate insiders.
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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