El interés en corto de RE/MAX Hldgs da a los inversores una idea del grado en que los inversores apuestan por la caída de las acciones de RE/MAX Hldgs. Los datos de interés en corto se actualizan cada dos semanas.

RE/MAX Hldgs (NYSE:RMAX) Bolsa, Informe de interés en corto

RE/MAX Hldgs

RE/MAX Holdings Inc operates as a franchisor of real estate brokerage services. It recruits and retains agents and sells franchises. The company's operating segments include Real Estate, Mortgage, Marketing Funds, and Others. It generates maximum revenue from the Real Estate segment.

RE/MAX Holdings, Inc. Class A Common Stock

RE/MAX Holdings Inc

WIIM

RMAX

RE/MAX Holdings shares are trading lower. The company reported Q3 financial results.

RE/MAX Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMAX#NYSE">RMAX</a>) reported quarterly earnings of $0.38 per share which beat the analyst consensus estimate of $0.36 by 5.56 percent. This is a 5 percent decrease over earnings of $0.40 per share from the same period last year. The company reported quarterly sales of $78.478 million which beat the analyst consensus estimate of $78.185 million by 0.38 percent. This is a 3.38 percent decrease over sales of $81.223 million the same period last year.

Earnings

Earnings Beats

News

RE/MAX Hldgs Q3 2024 Adj. EPS $0.38 Beats $0.36 Estimate, Sales $78.478M Beat $78.185M Estimate

RE/MAX Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMAX#NYSE">RMAX</a>) sees Q4 sales of $71.000 million-76.000 million vs $76.00 million estimate.

Guidance

RE/MAX Hldgs Sees Q4 Sales $71.000M-76.000M vs $76.00M Est

RE/MAX Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMAX#NYSE">RMAX</a>) narrows FY2024 sales outlook from $305.00 million-315.00 million to $306.00 million-311.00 million.

RE/MAX Hldgs Narrows FY2024 Sales Guidance from $305.00M-315.00M to $306.00M-311.00M (Est $310.8M)

The Zacks Real Estate Operations industry constituents are poised to gain from the increased adoption of outsourced real estate services and emerging trends. The easing of monetary policy in many large markets is expected to result in a decrease in borrowing costs, more availability of credit and drive economic growth, in turn fueling transaction activity. Companies like Newmark Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nmrk#NASDAQ">NMRK</a>), Kennedy-Wilson Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kw#NYSE">KW</a>) and RE/MAX Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rmax#NYSE">RMAX</a>) are set to benefit from these positive trends.
However, the industry faces challenges such as macroeconomic uncertainty and geopolitical tensions. Customers remain focused on cost controls and for certain asset categories are delaying their decision-making with respect to leasing.
About the Industry
The Zacks Real Estate Operations industry comprises companies that provide leasing, property management, investment management, valuation, development services, facility management, project management, transaction and consulting services, among others. However, real estate investment trusts or REITs are excluded from this group. Economic trends and government policies impact the real estate market (global and regional), which determines the industry&#39;s performance. Economic activity, employment growth, office-based employment, interest-rate levels, costs and availability of credit, tax and regulatory policies, and the geopolitical environment are the major factors shaping the real estate market&#39;s fate. Also, pandemic-induced public health challenges and geopolitical issues have affected property sales and the leasing lines of businesses.
What&#39;s Shaping the Real Estate Operations Industry&#39;s Future?
Interest Rate Cut Provides Relief for Transaction-Based Business: The latest cut in the interest rates by the Federal Reserve and anticipations of future reductions are expected to drive transaction-based businesses in the United States. Along with the United States, the easing of monetary policy in many large markets is expected to result in a decrease in borrowing costs, more availability of credit, and drive economic growth. This is expected to help investors in better price discovery and consequently result in reduced transaction completion times. It is also expected to lead to a rise in the average deal size, thereby bolstering the industry&#39;s near-term revenue prospects.
Outsourcing of Real Estate Needs to Remain Strong: Real estate occupiers, including corporations, public sector entities, healthcare providers, and those in finance, industry, life sciences and technology, are increasingly preferring to outsource their real estate needs. They are entrusting third-party real estate experts to enhance execution and efficiency. Organizations are seeking strategic advice to reimagine their workplaces and workstyles to foster culture, attract talent and improve performance. These developments are creating opportunities for participants in the real estate operations industry. Major players in the industry are leveraging this transition, securing new clients and expanding relationships with existing ones. Also, companies in this industry continue to prioritize investments in technology as it consistently improves efficiency, delivers client services and supports market share growth.
Certain Real Estate Categories&#39; Demand Hurt: The pandemic has significantly reshaped the use of commercial real estate. Also, economic uncertainty continues to affect real estate sales and leasing activities. While companies are promoting the return to office, this transition is gradual, which is hindering tenants&#39; confidence in long-term commitments. As such, pre-pandemic office occupancy levels are likely to remain elusive in the near or intermediate term. Amid a volatile environment and geopolitical issues, customers remain focused on cost controls and delaying their decision-making with respect to leasing. As such, industrial real estate demand remains subdued and this trend is expected to continue in the near term. Additionally, the pace of business-related travel and in-person interactions has not fully rebounded to pre-pandemic norms.
Zacks Industry Rank Indicates Bright Prospects
The Zacks Real Estate Operations industry is housed within the broader Zacks Finance sector. It carries a Zacks Industry Rank #104, which places it in the top 42% of more than 250 Zacks industries.
The group&#39;s Zacks Industry Rank, which is the average of the Zacks Rank of all the member stocks, indicates robust near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one.
The industry&#39;s positioning in the top 50% of the Zacks-ranked industries is a result of the upward earnings per share outlook for the constituent companies in aggregate. Looking at the aggregate earnings per share estimate revisions, it appears that of late, analysts are gaining confidence in this group&#39;s growth potential. Over the past year, the industry&#39;s earnings per share estimates for 2024 and 2025 have moved 46.8% and 37.2% north, respectively.
Before we present a few stocks that you may want to consider for your portfolio, let&#39;s take a look at the industry&#39;s recent stock-market performance and valuation picture.
Industry Outperforms the Sector &amp; the S&amp;P 500
The Zacks Real Estate Operations industry has outperformed the broader Zacks Finance sector and the S&amp;P 500 composite over the past year.
The industry has advanced 40.8% during this period compared with the S&amp;P 500&#39;s growth of 32.5% and the broader Finance sector&#39;s rise of 31.2%.
<h3>One-Year Price Performance</h3>
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/priceperf.jpg" style="height:228px; width:620px" />
Industry&#39;s Current Valuation
On the basis of the forward 12-month price-to-earnings, which is a commonly used multiple for valuing Real Estate Operations stocks, we see that the industry is currently trading at 17.06X compared with the S&amp;P 500&#39;s forward 12-month price-to-earnings (P/E) of 22.08X. The industry is trading above the Finance sector&#39;s forward 12-month P/E of 16.66X. This is shown in the chart below.
<h3>Forward 12-Month Price-To-Earnings Ratio</h3>
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/ind_&amp;_s&amp;p.jpg" style="height:155px; width:620px" />
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/ind_&amp;_fin.jpg" style="height:153px; width:620px" />
Over the last five years, the industry has traded as high as 32.49X and as low as 11.45X, with a median of 17.26X.
3 Real Estate Operation Stocks to Bet On
RE/MAX Holdings: Headquartered in Denver, CO, it is a franchisor in the real estate industry. The company franchises real estate brokerages globally under the RE/MAX brand and mortgage brokerages within the United States under the Motto Mortgage brand. It also sells ancillary products and services, such as loan processing services, mainly to its Motto network.
RE/MAX is poised to benefit from its strategic growth initiatives. With its efforts to expand the mortgage business and its objective to maintain a strong liquidity position, RE/MAX is well-poised to ride the growth curve.
RE/MAX Holdings currently sports a Zacks Rank #1 (Strong Buy). The Zacks Consensus Estimate for the company&#39;s 2024 earnings per share currently stands at $1.24. The stock has increased 20.8% in the past three months.
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/rmax.jpg" style="height:214px; width:620px" />
Newmark Group, Inc.: Headquartered in New York City, Newmark is a leading commercial real estate services company that is rapidly expanding its presence globally. Together with its subsidiaries, Newmark Group advises and provides services to large institutional investors, global corporations and other owners and occupiers of commercial real estate.
With investments in talent and technology, the company is expected to experience decent performance going forward. It is poised to benefit from the opportunities from the large and highly fragmented market, institutional investor demand for commercial real estate and from the favorable trend toward outsourcing of commercial real estate services.
Newmark carries a Zacks Rank of 2 (Buy) at present. The Zacks Consensus Estimate for the company&#39;s 2024 EPS has remained unchanged at $1.15 over the past month. This also suggests 9.5% growth year over year. NMRK shares have gained 22.7% over the past three months.
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/nmrk.jpg" style="height:215px; width:620px" />
Kennedy Wilson: Headquartered in Beverly Hills, CA, Kennedy Wilson is a global real estate investment company that invests in high-growth markets across the United States, the U.K. and Ireland. KW is engaged in the ownership, operation and investment in real estate on its own and through its investment management platform.
The company is expected to benefit from the continued growth of its investment management business and healthy demand for its high-quality multifamily and commercial portfolio.
Kennedy Wilson has a Zacks Rank of 2 at present. The Zacks Consensus Estimate for 2024 EPS has moved significantly upward over the past two months to $2.96. This suggests a notable increase year over year. The company&#39;s shares have appreciated 32.1% in the past six months.
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/kw.jpg" style="height:213px; width:620px" />
<a href="https://www.zacks.com/commentary/2350419/3-stocks-to-buy-on-the-real-estate-operations-industry-s-recovery?cid=CS-BENZ-FT-industry_outlook-2350419">To read this article on Zacks.com click here.</a>

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Macro Economic Events

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Regulations

Small Cap

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Analyst Ratings

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NMRK

3 Stocks to Buy on the Real Estate Operations Industry's Recovery

RE/MAX Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMAX#NYSE">RMAX</a>) released its National Housing Report for September 2024, which showed home sales slowed 13.3% from August and the median sales price <a href="https://www.benzinga.com/pressreleases/24/10/n41330285/remax-national-housing-report-for-september-2024">dropped 1.4% from August to $429,000.&nbsp;</a>
The Details: RE/MAX explained the September home sales dip was a seasonal norm and pointed to prior decreases of 13.8% and 9.7% from August to September in 2023 and 2022, respectively. However, sales were 3.1% below September 2023 <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41249628/mortgage-rates-make-dramatic-u-turn-freezing-homebuyers-applications-fall-5-as-ma">levels while the median home price</a> was 4.6% higher than in September 2023.
&#8220;While we&#8217;re seeing a slight cooling in sales, it&#8217;s encouraging to note that home inventory has been steadily increasing, giving buyers more options in the market,&#8221; said RE/MAX President Amy Lessinger.&nbsp;
&#8220;The consistency in sales prices and the fact that buyers are still paying 99% of asking price demonstrates the resiliency in today&#8217;s housing market. Lower rates could generate some increased activity as we end 2024 and start 2025,&#8221; Lessinger added.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/24/10/41321699/oil-prices-drop-after-netanyahu-says-israel-will-attack-military-not-oil-or-nuclear-targets-in-iran">Oil Prices Drop After Netanyahu Says Israel Will Attack Military, Not Oil Or Nuclear Targets In Iran</a>
Hot Markets: The markets with the biggest year-over-year increase in median sales price were Hartford, Connecticut, up 11.9%; Cleveland, Ohio, up 9.1% and Providence, Rhode Island, up 8.9%. New listings were up 35.9% year-over-year in Bozeman, Montana; up 32.8% in Phoenix, Arizona and Las Vegas, Nevada, saw the number of new listings rise 27.5%.
Cooling Markets: The markets with the biggest year-over-year decrease in median sales price were Coeur d&#8217;Alene, Idaho, down 4.7%; San Antonio, Texas, down 3.1% and Tampa, Florida, down 2.6%. Tampa also saw the number of <a href="https://www.benzinga.com/real-estate/24/10/41332284/floridas-housing-market-faces-major-setback-as-high-insurance-costs-and-storm-concerns-drive-buyers">new listings</a> fall 12.3% from September 2023 and new listings in San Antonio decreased 9.1%.
Real Estate ETFs: Though inventory is increasing, the U.S. housing market remains tight with buyers paying 99% of the asking price in September. Another way to invest in the housing market is through ETFs which track the U.S. real estate market, usually through Real Estate Investment Trusts (REITs). 
The Vanguard Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) has gained 20% over the past six months and the Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) is up nearly 22% since April 2024. 
RMAX, VNQ, XLRE Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, RE/MAX shares are up 3.03% at $12.23, Vanguard Real Estate shares are up 1.92% at $97.09 and Real Estate Select Sector SPDR shares are up 1.81% at $44.52 at the time of publication Tuesday.
Read Also:&nbsp;
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<li><a href="https://www.benzinga.com/news/24/10/41321567/teslas-optimus-robots-were-remotely-assisted-by-humans-at-we-robot-event">Tesla&#8217;s Optimus Robots Were Remotely Assisted By Humans At &#8216;We, Robot&#8217; Event</a></li>
</ul>
Photo: Shutterstock&nbsp;

REIT

Sector ETFs

ETFs

XLRE

September Sales Chill, Prices Cool — But What Markets Are Hot?

Inventory Grows as Home Sales Cool, Prices Dip Slightly
DENVER, Oct. 15, 2024 /PRNewswire/ --&nbsp;The number of homes for sale climbed for the seventh consecutive month across the 52 metro areas surveyed – 6.4% higher than August and 33.6% above September 2023 levels. New listings also increased 9.7% compared to September 2023.

RE/MAX Reports The Number Of Homes For Sale Climbed For The Seventh Consecutive Month Across The 52 Metro Areas Surveyed – 6.4% Higher Than August And 33.6% Above September 2023 Levels. New Listings Also Increased 9.7% Compared To September 2023.

New Listings Pick Up, While Fewer Homes Sell and For Less
DENVER, Sept. 16, 2024 /PRNewswire/ -- August's new listings inched up 1.6% over the previous month after decreasing 9.4% in July and 5.2% in June. Up 7.9% year over year, new listings have remained above 2023 levels in seven of eight months year to date.
Meanwhile, home sales declined 3.3% from July across the 49 metro areas surveyed. Home sale transactions were also down 3.8% year over year – just the third month of 2024 thus far to trail 2023.
The median sales price dropped for the second consecutive month to $440,000, 1.1% below July but remained 3.5% higher than the $425,000 median recorded in August 2023. Overall, the median sales price has remained higher year over year for 14 consecutive months since June 2023.
Inventory continued to grow for the sixth consecutive month. It was up 2.4% from July and contributed to the 37.6% increase in homes for sale in August 2024 compared to August 2023.

Econ #s

RE/MAX Says August's New Listings Inched Up 1.6% Over The Previous Month After Decreasing 9.4% In July And 5.2% In June. Up 7.9% YoY, New Listings Have Remained Above 2023 Levels In Seven Of Eight Months Year To Date; New Listings Pick Up, While Fewer Homes Sell And For Less

With the long-anticipated decline in interest rates finally starting to materialize, early indicators from RE/MAX brokers and agents across Canada suggest steady housing market activity this fall. Average sale prices across all housing types are expected to increase between one and six per cent in the majority of regions by year's end, according to RE/MAX's&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4244172-1&amp;h=1198855962&amp;u=https%3A%2F%2Fblog.remax.ca%2Fcanadian-housing-market-outlook%2F&amp;a=2024+Fall+Housing+Market+Outlook">2024 Fall Housing Market Outlook</a>.
&nbsp;
Ahead of the next Bank of Canada (BoC) interest rate announcement on September 4, two in 10 Canadians (16 per cent) said they will feel more comfortable engaging in the real estate market once they see there is more than a 100-basis-point cut to the BoC's lending rate between now and the end of the year, according to a Leger survey commissioned by RE/MAX as part of the report.

RE/MAX Predicts Steady Canadian Housing Market with Price Gains Amid Falling Interest Rates

The addition of Inside Real Estate's best-in-class back-office suite, enhanced for RE/MAX&#xAE; brokerages, transforms MAX/Techsm into a comprehensive and fully integrated end-to-end platform.
DENVER, Aug. 20, 2024 /PRNewswire/ --&nbsp;RE/MAX, LLC, a global leader in residential real estate, is significantly enhancing the value of its technology through an expanded strategic partnership with Inside Real Estate. The move will bring the acclaimed&nbsp;BoldTrail platform to brokerages in all RE/MAX company-owned regions across the U.S. and Canada via a rolling launch starting this fall.

RE/MAX Expands Strategic Partnership With Inside Real Estate, To Bring The Acclaimed BoldTrail Platform To Brokerages In All RE/MAX Company-Owned Regions Across The U.S. And Canada Via A Rolling Launch Starting This Fall

Home Sales Rise 3.8% While Prices Dip, Inventory Grows
DENVER&nbsp;, Aug. 15, 2024 /PRNewswire/ -- July home sales rebounded 3.8% from June while the median sales price dropped for the first time this year across the 51 metro areas surveyed. The median price of $425,000 was $5,000 – or 1.2% – lower than June's. Compared to one year ago, July home sales were up 6.7% and the median sales price increased 3.7%.

Re/Max Issues National Housing Report For July 2024; Compared To One Year Ago, July Home Sales Were Up 6.7% And The Median Sales Price Increased 3.7%

Stephens &amp; Co. analyst John Campbell maintains RE/MAX Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMAX#NYSE">RMAX</a>) with a Equal-Weight and raises the price target from $9 to $10.5.

Price Target

Stephens & Co. Maintains Equal-Weight on RE/MAX Hldgs, Raises Price Target to $10.5

RE/MAX Sees Q3 2024 Revenue $75M-$80M Vs $77.79M Estimate; Sees FY24 Revenue $305M-$315M Vs $309.35M Estimate

RE/MAX Holdings shares are trading higher after the company reported better-than-expected Q2 financial results.

RE/MAX Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMAX#NYSE">RMAX</a>) reported quarterly earnings of $0.41 per share which beat the analyst consensus estimate of $0.35 by 17.14 percent. This is a 2.5 percent increase over earnings of $0.40 per share from the same period last year. The company reported quarterly sales of $78.453 million which beat the analyst consensus estimate of $77.794 million by 0.85 percent. This is a 4.84 percent decrease over sales of $82.447 million the same period last year.

RE/MAX Hldgs Q2 2024 Adj. EPS $0.41 Beats $0.35 Estimate, Sales $78.453M Beat $77.794M Estimate

Although U.S. stocks closed mixed on Wednesday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Tilly&#8217;s</h3>
<ul>
<li>The Trade: Tilly&#8217;s, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TLYS#NYSE">TLYS</a>) 10% owner Pleasant Lake Partners LLC <a href="https://www.benzinga.com/quote/TLYS/analyst-ratings">acquired a total of 116,675 shares</a> at an average price of $5.56. To acquire these shares, it cost around $649,067.</li>
<li>What's Happening: On June 6, Tilly&#8217;s posted a wider-than-expected quarterly loss.</li>
<li>What Tilly&#8217;s Does: Tilly&#8217;s Inc works as a specialty retailer of casual apparel, footwear, and accessories for young men, young women, boys, and girls.</li>
</ul>
<h3 class="wp-block-heading">RE/MAX Holdings</h3>
<ul>
<li>The Trade: RE/MAX Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMAX#NYSE">RMAX</a>) 10% owner MAGNOLIA GROUP, LLC acquired a total of 26,522 shares at an average price of $8.03. To acquire these shares, it cost around $212,914.</li>
<li>What's Happening: On May 2, RE/MAX posted upbeat quarterly results.</li>
<li>What RE/MAX Holdings Does: RE/MAX Holdings Inc operates as a franchisor of real estate brokerage services. It recruits and retains agents and sells franchises.</li>
</ul>
Don&#8217;t forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<h3 class="wp-block-heading">Citi Trends</h3>
<ul>
<li>The Trade: Citi Trends, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTRN#NASDAQ">CTRN</a>) 10% owner Pleasant Lake Partners LLC <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 24,000 shares</a> at an average price of $19.95. To acquire these shares, it cost around $478,756.</li>
<li>What's Happening: On June 4, Citi Trends posted a narrower-than-expected quarterly loss.</li>
<li>What Citi Trends Does: Citi Trends Inc is a retailer of urban fashion apparel and accessories in the United States.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/24/07/39617741/top-3-health-care-stocks-that-may-crash-this-quarter">Top 3 Health Care Stocks That May Crash This Quarter</a>

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Insider Trades

CTRN

TLYS

Insiders Buying Citi Trends And 2 Other Stocks

Sales of <a href="https://www.benzinga.com/real-estate/24/06/39465243/u-s-home-sales-decline-for-third-month-as-record-prices-pose-persistent-affordability-challenges-dur">new single‐family homes</a> declined last month as mortgage rates continued to remain elevated. 
 May sales came in at a seasonally adjusted annual rate of 619,000 homes, according to estimates released jointly on Wednesday by the U.S. Census Bureau and the Department of Housing and Urban Development.
That figure is 11.3% below the revised estimate of 698,000 houses for April and 16.5% below the May 2023 estimate of 741,000 homes.
Also Read: <a href="https://www.benzinga.com/real-estate/24/06/39227959/home-listings-surge-indicating-a-healthier-housing-market">Home Listings Surge, Indicating A Healthier Housing Market</a>
"Persistently high mortgage rates in May kept many prospective buyers on the sidelines," National Association of Home Builders Chairman Carl Harris said in a statement on Wednesday.
"However, significant unmet demand exists, and we expect mortgage rates to moderate in the coming months, which will bring more buyers into the market."
 The interest rate on a 30-year fixed-rate mortgage is 6.875% on Wednesday, which is unchanged from yesterday, Fox Business <a href="https://www.foxbusiness.com/personal-finance/todays-mortgage-rates-june-26-2024">reported</a>. Meanwhile, the interest rate on a 15-year fixed-rate mortgage is 6.000%, which is also unchanged from yesterday.&nbsp;
The Federal Reserve has kept its key interest rate <a href="https://www.benzinga.com/markets/bonds/24/06/39509605/bond-traders-expect-much-deeper-interest-rate-cuts-than-projected">between 5.25% and 5.50%</a> as it waits for the rate of inflation to fall to 2% and expects to cut rates only once this year.
<h1 class="wp-block-heading">Housing Shortage Fuels Unmet Demand</h1>
New home inventory in the U.S. stood at 481,000 homes in May, representing a 9.3-month supply of new homes at the current sales rate, according to the federal housing data. But the combined inventory for new and existing single-family homes remains lean at a 4.4 months' supply, NAHB estimates showed.
The median sales price of new houses sold in May was $417,400, while the average sales price was $520,000, according to data from the Census Bureau and Department of Housing and Urban Development. A year ago, the median sales price was $421,200, while the average sales price came in at $495,800.
In April, the median sales price was $417,900 and the average sales price was $503,700.
Price action: Redfin Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RDFN#NASDAQ">RDFN</a>) gained 1.02% on Wednesday, while Re/Max Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMAX#NYSE">RMAX</a>) jumped 2.24%. Anywhere Real Estate Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOUS#NYSE">HOUS</a>) improved 2.87%.
Read Next: • <a href="https://www.benzinga.com/real-estate/24/06/39488167/prospective-homebuyers-get-little-respite-as-mortgage-rates-expected-to-plateau-freddie-mac-predicts">Prospective Homebuyers Get Little Respite As Mortgage Rates Expected To Plateau, Freddie Mac Predicts</a>
Photo: Allison H. Smith via Shutterstock

HOUS

RDFN

New Home Sales Dip In May As High Mortgage Rates Keep Buyers 'On The Sidelines'

Legal

RE/MAX Holdings Says Settlement Agreement Granted Final Approval In Antitrust Class Action Lawsuits; Does Not Expect Terms Of Settlement Agreement To Have A Material Impact On Its Results Of Operations And Cash Flows; Under Settlement Agreement, Agreed To Pay Total Settlement Amount Of $55M Into A Qualified Settlement Fund

Stephens &amp; Co. analyst John Campbell maintains RE/MAX Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMAX#NYSE">RMAX</a>) with a Equal-Weight and lowers the price target from $10 to $9.

Stephens & Co. Maintains Equal-Weight on RE/MAX Hldgs, Lowers Price Target to $9

U.S. stocks were higher, with the Dow Jones index gaining over 400 points on Friday.
Shares of Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) rose sharply during Friday's session after the company reported better-than-expected first-quarter financial results. Also, the company announced a $50 million milestone <a href="https://www.benzinga.com/general/biotech/24/05/38601856/amgen-reports-better-than-expected-q1-results-50m-milestone-payment">payment from Royalty Pharma</a>.
Amgen reported quarterly earnings of $3.96 per share, which beat the analyst consensus estimate of $3.87 by 2.33%. The company said EPS decreased by 1% due to higher operating and interest expenses driven by the Horizon acquisition, partially offset by higher revenues, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
The company reported quarterly sales of $7.447 billion, which beat the analyst consensus estimate of $7.436 billion and represents a 21.98% increase over sales of $6.105 billion in the same period last year.
Amgen shares surged 12.2% to $312.45 on Thursday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Tandem Diabetes Care, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNDM#NASDAQ">TNDM</a>) jumped 27.4% to $46.57 after the comapny reported better-than-expected first-quarter financial results.</li>
<li>WideOpenWest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOW#NYSE">WOW</a>) shares surged 26.1% to $4.7790 after the company received an unsolicited non-binding preliminary proposal from DigitalBridge Investments and various Crestview entities to purchase all of the outstanding shares of WOW! that Crestview does not currently own for $4.80 per share in cash.</li>
<li>El Pollo Loco Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOCO#NASDAQ">LOCO</a>) surged 24.8% to $10.73 after the company reported better-than-expected first-quarter results.</li>
<li>Twist Bioscience Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWST#NASDAQ">TWST</a>) jumped 22.8% to $39.31 after the company reported better-than-expected second-quarter financial results.</li>
<li>Alignment Healthcare, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALHC#NASDAQ">ALHC</a>) surged 22.1% to $6.42 after the company reported better-than-expected first-quarter revenue results and issued second-quarter revenue guidance above estimates. Also, the company raised its FY24 revenue guidance above estimates.</li>
<li>Clearfield, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLFD#NASDAQ">CLFD</a>) surged 21.8% to $38.89 after the company reported better-than-expected second-quarter results and increased its repurchase authorization.</li>
<li>RE/MAX Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMAX#NYSE">RMAX</a>) surged 21% to $8.66 following upbeat quarterly results.</li>
<li>Ardelyx, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARDX#NASDAQ">ARDX</a>) shares rose 20.7% to $8.19 after the company reported better-than-expected first-quarter financial results.</li>
<li>ModivCare Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MODV#NASDAQ">MODV</a>) rose 19.8% to $26.33 after the company reported better-than-expected quarterly sales results.</li>
<li>OneSpan Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSPN#NASDAQ">OSPN</a>) shares gained 19.6% to $13.09 after the company reported better-than-expected first-quarter adjusted EPS and sales.</li>
<li>IES Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IESC#NASDAQ">IESC</a>) gained 19% to $162.91 following second-quarter results.</li>
<li>Adtalem Global Education Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATGE#NASDAQ">ATGE</a>) rose 16.2% to $60.71 following upbeat quarterly results.</li>
<li>Paylocity Holding Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCTY#NASDAQ">PCTY</a>) gained 16% to $173.49 after the company reported better-than-expected third-quarter financial results and issued FY24 revenue guidance above estimates. The Board of Directors approve a $500 million share repurchase program.</li>
<li>MasTec, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) surged 14% to $103.86 after the company reported better-than-expected quarterly financial results.</li>
<li>CG Oncology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGON#NASDAQ">CGON</a>) gained 14% to $45.07.</li>
<li>ImmunityBio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBRX#NASDAQ">IBRX</a>) gained 11.2% to $9.97 after the company announced it signed an exclusive global arrangement with the Serum Institute of India. The company will be supplied with Bacillus Calmette-Guerin.</li>
<li>MercadoLibre, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>) surged 10.3% to $1,661.60 after the company reported better-than-expected first-quarter financial results.</li>
<li>Tidewater Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDW#NYSE">TDW</a>) rose 9.8% to $103.13 following upbeat results.</li>
<li>Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) gained 9.4% to $11.98.</li>
<li>Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) rose 9% to $115.59.</li>
<li>Universal Display Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OLED#NASDAQ">OLED</a>) gained 8.6% to $169.84 after the company reported better-than-expected first-quarter financial results.</li>
<li>XPO, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPO#NYSE">XPO</a>) gained 7.4% to $116.96 following better-than-expected first-quarter financial results.</li>
<li>Booking Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>) gained 6.7% to $3,705.00 after the company reported better-than-expected first-quarter financial results.</li>
<li>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) rose 6.4% to $184.09 after the company reported better reported better-than-expected results for its second quarter.</li>
<li>Workiva Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WK#NYSE">WK</a>) gained 5.9% to $84.76 following strong quarterly earnings and upbeat EPS guidance.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/05/38613217/top-3-energy-stocks-that-could-blast-off-this-month">Top 3 Energy Stocks That Could Blast Off This Month</a>

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Amgen Posts Upbeat Results, Joins OneSpan, Paylocity Holding, MercadoLibre And Other Big Stocks Moving Higher On Friday

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RE/MAX Holdings, Inc. (RMAX) Q3 2024 Earnings Call Transcript

Re/Max Holdings Inc ( ($RMAX) ) has released its Q3 earnings. Here is a breakdown of the information Re/Max Holdings Inc presented to its investors...

RE/MAX Holdings Inc. Reports Third Quarter 2024 Results

Real estate stocks fail to catch fire despite Trump's election victory

As the housing market recovers, key trends such as interest rate cuts, modernized office spaces, and increasing demand for senior housing are creating promising growth opportunities in the real estate sector. Hence, fundamentally sound real estate stocks AvalonBay Communities (AVB), RE/MAX (RMAX), and Equity Residential (EQR) might be wise picks. Keep reading... The real estate industry is experiencing a period of transition, driven by evolving trends that present new opportunities for growth and recovery. So, I present solid stocks AvalonBay Communities, Inc. (<a href="https://stocknews.com/stock/AVB/">AVB</a>), RE/MAX (<a href="https://stocknews.com/stock/RMAX/">RMAX</a>), and Equity Residential (<a href="https://stocknews.com/stock/EQR/">EQR</a>), which are well-positioned to capitalize on these trends, benefiting from the increasing demand for modern living and working spaces.
There is a noticeable shift toward modernizing office spaces with wellness-focused amenities, as well as a growing demand for housing catering to senior citizens. These changes reflect a broader shift in supply dynamics, with new housing and office developments leading the way. Additionally, the impact of interest rate cuts by the Federal Reserve is expected to facilitate market activity and increase transaction volumes.
As the market continues to recover, the global real estate market is projected to grow at a <a href="https://www.statista.com/outlook/fmo/real-estate/worldwide">CAGR of 2.8%</a>, reaching a market volume of $727.80 trillion by 2029.
Considering these conducive trends, let's examine the above-mentioned Real Estate stocks in detail.
AvalonBay Communities, Inc. (<a href="https://stocknews.com/stock/AVB/">AVB</a>)
AVB, a leading equity REIT and S&amp;P 500 member, specializes in developing, acquiring, and managing high-quality apartment communities. Catering primarily to urban residents and renters, AvalonBay provides premium living spaces across major U.S. metropolitan areas.
AVB's revenue has grown at a CAGR of 8.8% over the past three years, and its normalized net income has risen at a CAGR of 24.4% over the same time frame.
On September 20, 2024, AVB, announced a third-quarter cash dividend of $1.70 per share on its common stock, payable on October 15, 2024. It pays an annual dividend of $6.80, which translates to a dividend yield of 2.9% at the prevailing price levels.
On September 5, AVB announced the pricing of an underwritten public offering of 3.2 million shares of common stock. This offering, linked to forward sale agreements, is expected to generate gross proceeds of about $710.4 million.
During the fiscal third quarter that ended September 30, 2024, AVB's total revenue increased 5.3% year-over-year to $734.31 million. In addition, the company's net income attributable to common stockholders and core FFO came in at $372.52 million and $2.74, up 116.5% and 3% over the prior-year quarter, respectively.
Analysts expect AVB's <a href="https://www.investopedia.com/terms/f/fundsfromoperation.asp">FFO</a> and revenue for the fourth quarter ending December 31, 2024, to increase 3.4% and 5.3% year-over-year to $2.83 and $740.14 million, respectively. It surpassed the Street revenue estimates in each of the trailing four quarters, which is promising.
Over the past year, the stock has gained 40.5% to close the last trading session at $232.21. It soared 24% year-to-date.
AVB's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust outlook. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
AVB has a B grade in Sentiment, and Stability. It is ranked #5 out of 20 stocks in the <a href="https://stocknews.com/category/reits-residential/">REITs - Residential</a> industry.
Beyond what we have stated above, we also have given AVB grades for Momentum, Growth, Value, and Quality. Get all the AVB's ratings <a href="https://stocknews.com/stock/AVB/">here</a>.
RE/MAX Holdings, Inc. (<a href="https://stocknews.com/stock/RMAx/">RMAX</a>)
RMAX is a global franchisor in the real estate industry, offering brokerage services under the RE/MAX brand, mortgage solutions through Motto Mortgage, and loan processing with the wemlo software. It also provides the kvCORE platform for managing client relationships and RE/MAX University for professional development of agents and brokers.
RMAX's revenue has grown at CAGR of 3.31% over the past five years.
On July 9, 2024, BOSSCAT announced a new partnership with RMAX as an approved supplier. This collaboration provides RE/MAX's 75,000 agents across the U.S. and Canada.
In the fiscal third quarter ended September 30, 2024, RMAX's reported revenue $78.48 million. Its operating income was $15.21 million, compared to a loss of $21 million in the prior year quarter. Moreover, its net income and EPS stood at $3.41 million and $0.05, respectively, compared to a loss of $82.67 million and $3.28, respectively in the prior year quarter.
Street expects 's revenue and FFO for the quarter ending December 31, 2024, to be $75.06 million and $0.05, respectively. It surpassed the consensus revenue estimates in three of the trailing four quarters.
The stock climbed 24.2% over six months and has returned 34.5% over the past year to close the last trading session at $12.08.
RMAX's POWR Ratings reflect strong prospects. It has a B for Growth and Value. It is ranked #6 out of 47 stocks in the <a href="https://stocknews.com/category/real-estate-services/">Real Estate Services</a> industry.
To access RMAX's Momentum, Stability, Sentiment, and Quality ratings, click <a href="https://stocknews.com/stock/RMAX/">here</a>.
Equity Residential (<a href="https://stocknews.com/stock/EQR/">EQR</a>)
EQR is dedicated to developing and managing premium residential properties that foster thriving communities. Focused on affluent, long-term renters, it operates 299 properties with nearly 80,000 apartment units in key U.S. cities like New York, Boston, and San Francisco and is expanding into markets such as Denver, Atlanta, and Austin.
EQR's revenue has grown at a CAGR of 6.5% over the past three years, and its normalized net income has risen at a CAGR of 36.1% over the same time frame.
On August 7, 2024, EQR announced a $964 million acquisition of 11 apartment properties from the Blackstone Group Inc. (<a href="https://stocknews.com/stock/BX/">BX</a>), expanding its footprint in growth markets like Atlanta, Dallas/Ft. Worth, and Denver. This strategic move aims to increase the company's income from these high-growth areas.
It pays an annual dividend of $2.70, which translates to a dividend yield of 3.7% at the prevailing price levels.
EQR's rental income increased 3.4% year-over-year to $748.35 million in the fiscal 2024 third quarter that ended on September 30, 2024. Its net income came in at $148.52 million, while its normalized FFO increased by 2.1% from the year-ago value to $0.98.
Street expects EQR's revenue for the fiscal fourth quarter (ending December 2024) to increase 3.3% year-over-year to $751.35 million. Its FFO for the same quarter is expected to grow 0.6% from the prior year to $1.01. In addition, it surpassed the consensus FFO estimates in each of the trailing four quarters.
Shares of EQR have gained 36.7% over the past year and 20.2% over the past year to close the last trading session at $73.50.
EQR's bright prospects are apparent in its POWR Ratings.
It has a B grade for Stability. Within the REITs - Residential industry, it is ranked #10.
Click <a href="https://stocknews.com/stock/EQR/">here</a> to see EQR's ratings for Growth, Value, Momentum, Sentiment, and Quality.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
AVB shares were unchanged in premarket trading Tuesday. Year-to-date, AVB has gained 27.21%, versus a 27.16% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Kritika Sarmah</h2> <img src='https:/wp-content/uploads/2022/08/Kritika-Sarmah_Image-3.jpg' style="float:left; padding:5px;width:125px;">Her interest in risky instruments and passion for writing made Kritika an analyst and financial journalist. She earned her bachelor's degree in commerce and is currently pursuing the CFA program. With her fundamental approach, she aims to help investors identify untapped investment opportunities.<a href="https://stocknews.com/authors/?author=kritika-sarmah">More...</a>The post <a href=https://stocknews.com/news/avb-rmax-eqr-3-real-estate-stocks-poised-for-growth-amid-housing-recovery/>3 Real Estate Stocks Poised for Growth Amid Housing Recovery</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Real Estate Stocks Poised for Growth Amid Housing Recovery

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