Shares of real estate brokerage Redfin Corporation (RDFN) are climbing more than 4% Monday morning.
Today, the company said it has completed its previously announced acquisition of home mortgage lender Bay Equity Home Loans for $137.8 million in cash.
Redfin expects the transaction to add to its earnings per share in 2022.
"As homebuyers struggle with affordability and bidding wars, it's more important than ever for lenders and brokers to work together on every customer's offer," said Redfin CEO Glenn Kelman.
RDFN is at $18.25 currently. It has traded in the range of $16.23-$72.69 in the past 52 weeks.
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