|Bid||24.05 x 2500|
|Ask||25.80 x 200|
|Day's range||24.40 - 25.14|
|52-week range||19.18 - 33.49|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||24.60|
Shares of the online real estate broker have dipped this year as the housing market has gotten tougher and growth has slowed.
Shares of Redfin Corp. (rdfn) fell more than 4% late Monday after the Seattle-based residential real-estate brokerage said it plans to start public offerings of 3.5 million shares of common stock and $125 million in convertible notes due 2023. Underwriters of the stock offering would have a 30-day option to buy an additional 525,000 shares, and the underwriters of the notes offering a 30-day option to get an additional $18.75 million in notes, Redfin said.
The most active real estate broker in the Pacific Northwest this year is a former Microsoft Corp. program manager who used to work on Bing. The idea is relatively simple: A house hunter hires FlyHomes as her broker. Stories of house hunters “losing” several homes before getting a bid accepted are legion in greater Seattle, where prices have shot up faster than any other big metro area in the country for 20 months.
Redfin’s CEO said in February that he expects housing-market conditions to get worse before they get betterMarketWatch photo illustration/ZillowNow Zillow won’t just show you houses and steer you to real estate agents - it will also sell you some directly. Goldman Sachs on Monday downgraded two real-estate stocks as housing-market challenges persist and the end of the spring selling season looms. In a research note, Goldman equity analysts call Zillow Group(ZG)and Redfin Corp.(RDFN)“online real estate stocks” but note that, despite their internet origins, both companies are still at the mercy of the real-world housing backdrop: tight supply, rising prices and a challenging mortgage lending environment in which credit remains tight even as rates rise.
Shares of Redfin (RDFN) and Zillow Group (ZG) are trading lower on Monday, after Goldman Sachs downgraded the online real-estate stocks. Analyst Heath Terry cut his rating on Zillow to Neutral, and Redfin to Sell, leaving his $21 price target on the latter unchanged. He writes that the move comes ahead of a period of historical underperformance for the stocks, as well as his concern about housing trends--tighter supply, higher prices, and higher mortgage rates--that will weigh on the shares. To wit, he writes that the downgrades aren't a bearish call on Zillow’s launch of Instant Offers or growth in Redfin Now, both of which are initiatives that he believes are "necessary given the growing impact of technology on the traditional agent commission model." Zillow Instant Offer, much like it sounds, allows users selling their home to get instant offers, which they can accept in lieu of using a traditional real estate agent.
Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against Redfin Corporation .
Investors seeking to increase their exposure to growth should consider companies such as Trevena and Redfin. Analysts are generally optimistic about the future of these stocks, based on how muchRead More...
It’s not just tech-heavy Seattle and San Francisco that have stolen for many the so-called American Dream of homeownership with their steep housing prices. Glenn Kelman, CEO of Seattle-based national real estate brokerage Redfin(RDFN) blasted the state of the national housing market on a post-earnings call with analysts Thursday.
On a per-share basis, the Seattle-based company said it had a loss of 44 cents. The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research ...
The Seattle-based company said it had a loss of 2 cents per share. The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss ...
Prices for luxury homes, fueled by the surging stock market and a shrinking inventory of properties on the market, are rising faster than more-modest residences across much of the U.S.
Apr.17 -- Nela Richardson, chief economist at Redfin, examines U.S. new-home construction data for March. She speaks on "Bloomberg Daybreak: Americas."
Mar.16 -- Nela Richardson, chief economist at Redfin, and Bloomberg's Michael McKee discuss U.S. housing data. They speak with Lisa Abramowicz and David Westin on "Bloomberg Daybreak: Americas."