RDFN - Redfin Corporation

NasdaqGS - NasdaqGS Real-time price. Currency in USD
23.52
-0.70 (-2.89%)
At close: 4:00PM EST
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Previous close24.22
Open24.33
Bid23.05 x 1800
Ask24.37 x 800
Day's range23.39 - 24.37
52-week range14.70 - 24.37
Volume852,737
Avg. volume1,010,771
Market cap2.17B
Beta (5Y monthly)1.42
PE ratio (TTM)N/A
EPS (TTM)-0.94
Earnings date05 Nov 2019
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target est23.85
  • Trump Tax Perk Fuels San Jose Development as Google Moves In
    Bloomberg

    Trump Tax Perk Fuels San Jose Development as Google Moves In

    (Bloomberg) -- San Francisco’s towers and Silicon Valley’s sprawling tech campuses have long overshadowed downtown San Jose in the Bay Area. But developer Erik Hayden says the time has finally come for the city -- thanks, in part, to a Trump-era tax break meant to help low-income communities.He and his partners at Urban Catalyst just unveiled their latest purchase in the city: a $24 million deal for a shuttered movie theater, which they plan to convert into an office development called Paseo.In just a few months, Urban Catalyst has become one of the most-active developers in California’s third-largest city, laying out plans for apartments, offices, a Marriott-branded hotel and even a senior-living facility -- much of it just steps from where Google is planning a new campus for 20,000 workers.And they have more coming as part of an effort to raise as much as $250 million to tap generous new federal subsidies for investing in areas designated as “opportunity zones.”“We definitely would not have as much interest in San Jose, especially in downtown, were it not for the opportunity zone,” Hayden said. “It was crucial.”That assertion is at the heart of a debate over one of the most controversial incentives in the tax package that President Donald Trump signed into law in late 2017: Would investment in opportunity zones have happened were it not for the tax breaks?Critics of the program have pointed to zones in areas that were already up-and-coming to argue they’re a waste of tax dollars. Proponents, meanwhile, have highlighted investments that have come together faster, and bigger, because of the incentives. Teasing out who’s right may never be possible, said Nate Jensen, a professor of government at the University of Texas at Austin, who studies economic development incentives.“The bottom line is we are not going to be able to evaluate this, even if we had all the project-level data,” he said.San Jose makes for an interesting case study. Long a bedroom community for Silicon Valley, the city has been trying to flip the script by bringing jobs and businesses downtown to bolster its tax base. Transit upgrades years in the making are moving forward. Roughly three years ago, Google began snapping up properties for its eventual campus.It’s all had the effect of spurring projects. Almost no new office space was finished in San Jose’s central business district in the past 10 years, according to research from CBRE Group Inc. In the coming decade, however, developers may deliver nearly 14 million square feet. And that doesn’t count the as much as 7.3 million square feet Google is planning.Construction costs remain high, so the opportunity zone benefits are “without question” important for some new developments, said Erik Hallgrimson, a broker with Cushman & Wakefield in San Jose.The real estate boom has provoked a backlash, with many residents worried that the arrival of thousands of tech workers will put housing out of reach in one of the more affordable parts of the Bay Area. Median home prices in the city almost touched $1.2 million in the spring of 2018, before moderating. They were $938,000 in October, according to Redfin Corp.Hayden estimated his developments will contribute about $25 million toward affordable housing, enough to create more than 120 below-market units. Urban Catalyst’s projects will also add $100 million to local coffers in property taxes through 2030, he said, more than the tax breaks his investors will likely reap because of the opportunity-zone benefits.Hayden’s fund has also allowed investors who’ve made money in tech to parlay some of their capital gains into redeveloping San Jose -- something they might not have done absent the tax benefits. More than half of the $42 million Urban Catalyst has raised to date has come from the sale of stock, including from executives at Apple Inc. and Facebook Inc.“This is the whole impetus of the program -- get money off the sidelines and invest in lower-income areas,” he said.(Updates with lack of past development in 10th paragraph. An earlier version of this story corrected the penultimate paragraph to say more than half the money comes from stock sales)To contact the reporter on this story: Noah Buhayar in Seattle at nbuhayar@bloomberg.netTo contact the editors responsible for this story: Craig Giammona at cgiammona@bloomberg.net, David ScheerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Is Redfin (NASDAQ:RDFN) Weighed On By Its Debt Load?
    Simply Wall St.

    Is Redfin (NASDAQ:RDFN) Weighed On By Its Debt Load?

    Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...

  • What Rising Rates? Technology to Aid Housing ETFs Ahead
    Zacks

    What Rising Rates? Technology to Aid Housing ETFs Ahead

    The latest spike in long-term bond yields may be negative for housing ETFs, but gradual adoption of technology in the space could prove to be a shot in the arm.

  • Redfin (RDFN) Beats Q3 Earnings and Revenue Estimates
    Zacks

    Redfin (RDFN) Beats Q3 Earnings and Revenue Estimates

    Redfin (RDFN) delivered earnings and revenue surprises of 75.00% and 3.71%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?

  • Redfin (RDFN) Reports Next Week: What You Should Expect
    Zacks

    Redfin (RDFN) Reports Next Week: What You Should Expect

    Redfin (RDFN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • If You Had Bought Redfin (NASDAQ:RDFN) Stock A Year Ago, You Could Pocket A 17% Gain Today
    Simply Wall St.

    If You Had Bought Redfin (NASDAQ:RDFN) Stock A Year Ago, You Could Pocket A 17% Gain Today

    The simplest way to invest in stocks is to buy exchange traded funds. But you can significantly boost your returns by...

  • Taxes will likely hurt the New York City real estate market
    Yahoo Finance

    Taxes will likely hurt the New York City real estate market

    New York is seeing an exodus of people and taxes may just trigger more people to leave.

  • A recession may hit some U.S. metros worse than others
    Reuters

    A recession may hit some U.S. metros worse than others

    If the U.S. economy slips into a recession, homeowners in Riverside, California, will fare much worse than those in Rochester, New York, Seattle-based real estate brokerage Redfin predicts. Redfin economists crunched a range of risk factors across 50 U.S. metro areas to estimate which markets were most vulnerable in a severe economic downturn. One key factor was how global trade affects the local economy, given the ongoing U.S. China trade war.

  • Amazon Turns Northern Virginia Into Country’s Most Competitive Home Market
    Bloomberg

    Amazon Turns Northern Virginia Into Country’s Most Competitive Home Market

    (Bloomberg) -- Even before Amazon.com Inc. completes its northern Virginia office hub, the e-commerce giant has helped make the area the most competitive housing market in the U.S.It’s hardest for buyers to win a home in Alexandria and Arlington, cities near Washington’s Reagan National Airport and close to where Amazon is building its East Coast headquarters, according to a study by Redfin Corp. The brokerage’s analysis factored in bidding wars, waived contingencies, above-list-price offers and how fast properties went under contract.Homes that sold last month were on the market for a median 11 days in Arlington and 14 days in Alexandria, about a week less than in the previous July for both locations. That compares with 27 days in the Washington, D.C., metropolitan area and 38 days nationally. About 57% of homes near Amazon’s northern Virginia site were snapped up by buyers in two weeks or less.In Seattle, where Amazon is based, locals blamed the company’s rapid growth and big paychecks for helping to fuel a housing affordability crisis. In the area around the nation’s capital, investors are bidding up prices, anticipating that they’ll be rewarded over the next decade with the arrival of tens of thousands of workers earning an average of $150,000 each.“The Amazon HQ2 effect has become a permanent factor in the Arlington and Alexandria housing markets,” local Redfin listing agent Marcia Burgos-Stone said in the report. “Some sellers are still opting to hold on to their homes and wait until it becomes a more concrete reality in the hopes that they’ll get more money. This has led to a shortage of homes for sale, which puts pressure on buyers who are concerned that they’ll be left behind if they can’t find a home before things get too heated up.”In both Arlington and Alexandria, the number of homes for sale fell by about 50% in July from a year earlier, Redfin said.The brokerage’s analysis assessed a “compete score” on a scale of 0 to 100. In markets that score above 90, most listings get multiple offers, and contingencies -- such as appraisals or inspections -- are often waived. Arlington and Alexandria each scored 96, along with Grand Rapids, Michigan, a city with a strong economy, growing job market and relatively affordable prices, Redfin said. Following were Tacoma, Washington, with 95, and Oakland, California, with 93.To contact the reporter on this story: Prashant Gopal in Boston at pgopal2@bloomberg.netTo contact the editors responsible for this story: Debarati Roy at droy5@bloomberg.net, Christine MaurusFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Motley Fool

    Redfin's Plan to Disrupt Real Estate

    Redfin wants to make it easier to buy and sell homes online.

  • Zillow's stock plummets nearly 20% after Q2 earnings disappoint
    Yahoo Finance

    Zillow's stock plummets nearly 20% after Q2 earnings disappoint

    Zillow's stock is plummeting, as their path to profitability with their new Zillow Offers program is murky.

  • Why Redfin Stock Is a Buy -- No Matter What the Real Estate Market Does
    Motley Fool

    Why Redfin Stock Is a Buy -- No Matter What the Real Estate Market Does

    Rain or shine, this real estate broker is aiming for disruptive change.

  • Does The Redfin Corporation (NASDAQ:RDFN) Share Price Fall With The Market?
    Simply Wall St.

    Does The Redfin Corporation (NASDAQ:RDFN) Share Price Fall With The Market?

    If you own shares in Redfin Corporation (NASDAQ:RDFN) then it's worth thinking about how it contributes to the...

  • Redfin's Growth Accelerates
    Motley Fool

    Redfin's Growth Accelerates

    The real estate company's revenue climbed 39% in the second quarter.

  • Redfin Corporation (RDFN) Q2 2019 Earnings Call Transcript
    Motley Fool

    Redfin Corporation (RDFN) Q2 2019 Earnings Call Transcript

    RDFN earnings call for the period ending June 30, 2019.

  • Redfin (RDFN) Reports Q2 Loss, Tops Revenue Estimates
    Zacks

    Redfin (RDFN) Reports Q2 Loss, Tops Revenue Estimates

    Redfin (RDFN) delivered earnings and revenue surprises of 6.67% and 3.88%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?

  • 3 Top Small-Cap Stocks to Buy in August
    Motley Fool

    3 Top Small-Cap Stocks to Buy in August

    Upwork, Redfin, and Innovative Industrial Properties all offer investors high-growth potential.

  • Analysts Estimate Redfin (RDFN) to Report a Decline in Earnings: What to Look Out for
    Zacks

    Analysts Estimate Redfin (RDFN) to Report a Decline in Earnings: What to Look Out for

    Redfin (RDFN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Motley Fool

    IPO Dreams and Stocks to Watch

    So many companies are going public, but these gems unfortunately aren't among them.

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