Pennymac Mortgage Investment Trust, Offerpad Solutions in real estate losers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 21 2024
0mins
Source: SeekingAlpha
- Gainers: Fangdd Network Group (DUO) and Gaucho Group Holdings (VINO) rose by 12% and 7%, respectively.
- Losers: Offerpad Solutions (OPAD), Pennymac Mortgage Investment Trust (PMT), The Real Brokerage (REAX), and Fathom Holdings (FTHM) experienced declines of 7%, 7%, 6%, and 5%, respectively.
- Market Performance: S&P 500 Real Estate Sector dropped by 0.32% to 240.34.
- Real Estate Trends: Real estate stocks are surging due to soft inflation reports fueling rate cut hopes.
- Additional Information: There is a focus on the quality over quantity in real estate, REITs have seen a marginal increase in short interest, and there are dividend scorecards available for the Real Estate Select Sector SPDR ETF.
Analyst Views on REAX
Wall Street analysts forecast REAX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for REAX is 7.00 USD with a low forecast of 6.00 USD and a high forecast of 8.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 3.860
Low
6.00
Averages
7.00
High
8.00
Current: 3.860
Low
6.00
Averages
7.00
High
8.00
About REAX
The Real Brokerage Inc. is a real estate technology company that operates as a software-based brokerage across approximately 50 states in United Stated, the District of Columbia, and four Canadian provinces. Its platform leverages artificial intelligence (AI) and automation to enhance agent productivity while maintaining a lean operating model. The Company operates as a fully digital brokerage, offering agents a more flexible, efficient, and financially compelling model. Its technology platform is reZEN, is a proprietary transaction management and brokerage operations software. The Company’s services include end-to-end transaction management, automated compliance & brokerage oversight, integrated payment & financial services, Leo CoPilot: AI-powered agent support, and open application programming interface (API) for customization.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
