Historic low in US home sales
American home sales hit a 30-year low, delivering bad news for News Corp and its 61% owned Australian US property listings REA Group.
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Rea Group Ltd
REA Group is a digital media business with more than 1,400 people working across three continents to change the way the world experiences property.
Our purpose is to change the way the world experiences property. We want to help people with all aspects of their property experience – not just buying, selling, and renting. So, we provide our customers and consumers with the most up to date property news, renovation tips, lifestyle content and property estimates.
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DNR Capital: Talking Stock – REA Group (ASX:REA)
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News
Everything Clicking for REA Group
The latest half year figures from News Corp’s digital house listings arm REA Group has confirmed that it’s the middlemen that make a lot of money - and not just the banks.
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REA Group Continues Asian Retreat
News Corp’s 61% owned property listing business REA Group is continuing to withdraw from involvement in Asian markets that once were seen as key to its future growth outside Australia.
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REA Group: The great Australian internet start-up
REA Group holds one of the most privileged positions in real-estate of any company in the world. Within its home market of Australia, ~65% of the adult population visit the website every month, a number that keeps growing!
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REA Looking to Put a Mortgage on Listings
News Corp controlled REA Group is buying Mortgage Choice for $244 million, as the real estate listings company seeks to expand the size of its mortgage broking business.
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Analyst Views
REA – UBS rates the stock as Buy
The analyst upgrades the rating to Buy from Neutral. At the same time, the target falls to $130 from $155.
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REA – Morgans rates the stock as Add
Morgans lowers its target price for REA Group to $145.40 from $156.30. As the amended target price is still more than 10% above the prevailing share price, the broker raises its rating to Add from Hold.
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REA – Macquarie rates the stock as Neutral
The Neutral rating is maintained on downside risk to the consensus forecast in the medium term. The target price eases to $158 from $162.
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REA – Morgans rates the stock as Hold
Morgans lifts its target price to $160.4 from $139.4.
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REA – Credit Suisse rates the stock as Neutral
Neutral maintained. Target rises to $152 from $148.
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