Realogy Holdings Corp. (RLGY) Stake Raised by Riverpark Capital Management LLC
Riverpark Capital Management LLC boosted its stake in Realogy Holdings Corp. (NYSE:RLGY) by 15.4% during the second quarter, Holdings Channel reports. The institutional investor owned 628,008 shares of the financial services provider’s stock after buying an additional 83,910 shares during the period. Realogy Holdings Corp. accounts for about 2.3% of Riverpark Capital Management LLC’s portfolio, making the stock its 23rd largest position. Riverpark Capital Management LLC’s holdings in Realogy Holdings Corp. were worth $20,378,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Realogy Holdings Corp. by 2,352.2% in the first quarter. BlackRock Inc. now owns 6,789,662 shares of the financial services provider’s stock valued at $202,264,000 after buying an additional 6,512,779 shares in the last quarter. Wellington Management Group LLP purchased a new position in Realogy Holdings Corp. during the first quarter valued at $44,039,000. Schwab Charles Investment Management Inc. raised its position in Realogy Holdings Corp. by 83.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,286,364 shares of the financial services provider’s stock valued at $41,743,000 after buying an additional 586,928 shares in the last quarter. FMR LLC raised its position in Realogy Holdings Corp. by 5.0% in the first quarter. FMR LLC now owns 11,213,250 shares of the financial services provider’s stock valued at $334,043,000 after buying an additional 535,210 shares in the last quarter. Finally, Scopus Asset Management L.P. purchased a new position in Realogy Holdings Corp. during the first quarter valued at $8,472,000.
Realogy Holdings Corp. (NYSE:RLGY) opened at 34.58 on Tuesday. The company has a 50-day moving average of $33.33 and a 200 day moving average of $30.10. Realogy Holdings Corp. has a 52 week low of $21.43 and a 52 week high of $35.18. The company has a market cap of $4.71 billion, a P/E ratio of 20.15 and a beta of 1.40.
Realogy Holdings Corp. (NYSE:RLGY) last announced its earnings results on Thursday, August 3rd. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. Realogy Holdings Corp. had a net margin of 4.06% and a return on equity of 9.53%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the business posted $0.74 earnings per share. Realogy Holdings Corp.’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts forecast that Realogy Holdings Corp. will post $1.71 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $0.36 annualized dividend and a yield of 1.04%. Realogy Holdings Corp.’s payout ratio is presently 21.05%.
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A number of brokerages recently commented on RLGY. Compass Point lowered shares of Realogy Holdings Corp. from a “buy” rating to a “neutral” rating and upped their price target for the company from $31.00 to $32.00 in a research note on Tuesday, May 9th. Zacks Investment Research lowered shares of Realogy Holdings Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. BidaskClub upgraded shares of Realogy Holdings Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Deutsche Bank AG upgraded shares of Realogy Holdings Corp. from a “hold” rating to a “buy” rating and upped their price target for the company from $32.00 to $38.00 in a research note on Monday, May 15th. Finally, TheStreet raised shares of Realogy Holdings Corp. from a “c+” rating to a “b-” rating in a report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Realogy Holdings Corp. has a consensus rating of “Buy” and a consensus target price of $35.56.
In other Realogy Holdings Corp. news, SVP Timothy B. Gustavson sold 3,093 shares of Realogy Holdings Corp. stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $34.84, for a total transaction of $107,760.12. Following the completion of the sale, the senior vice president now directly owns 8,705 shares in the company, valued at $303,282.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.80% of the company’s stock.
Realogy Holdings Corp. Company Profile
Realogy Holdings Corp. is an integrated provider of residential real estate services in the United States. The Company is the franchisor of residential real estate brokerages with some of the recognized brands in the real estate industry, the owner of United States residential real estate brokerage offices, the global provider of outsourced employee relocation services and a provider of title and settlement services.
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