Reis (NASDAQ:REIS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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. “

A number of other analysts also recently commented on the stock. B. Riley set a $26.00 target price on shares of Reis and gave the stock a “buy” rating in a report on Monday, October 30th. ValuEngine upgraded shares of Reis from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $23.33.

Shares of Reis (REIS) opened at $20.15 on Wednesday. Reis has a fifty-two week low of $15.95 and a fifty-two week high of $23.00. The company has a market cap of $234.53, a P/E ratio of 201.50 and a beta of 1.22.

In other news, COO William Sander sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $20.26, for a total transaction of $101,300.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Mark P. Cantaluppi sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $20.25, for a total transaction of $81,000.00. Following the sale, the chief financial officer now owns 116,508 shares in the company, valued at approximately $2,359,287. The disclosure for this sale can be found here. Insiders sold a total of 12,000 shares of company stock worth $240,800 over the last quarter. Insiders own 21.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its holdings in shares of Reis by 57.7% during the third quarter. Wells Fargo & Company MN now owns 9,862 shares of the business services provider’s stock valued at $177,000 after acquiring an additional 3,607 shares during the period. Teachers Advisors LLC raised its holdings in shares of Reis by 17.8% during the second quarter. Teachers Advisors LLC now owns 15,209 shares of the business services provider’s stock valued at $323,000 after acquiring an additional 2,300 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Reis by 10.5% during the third quarter. Advisors Asset Management Inc. now owns 33,101 shares of the business services provider’s stock valued at $596,000 after acquiring an additional 3,146 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Reis by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 101,042 shares of the business services provider’s stock valued at $2,147,000 after acquiring an additional 1,417 shares during the period. Finally, State Street Corp raised its holdings in shares of Reis by 8.6% during the second quarter. State Street Corp now owns 130,971 shares of the business services provider’s stock valued at $2,784,000 after acquiring an additional 10,393 shares during the period. Institutional investors and hedge funds own 59.16% of the company’s stock.

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About Reis

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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