Okumus Fund Management Ltd. bought a new stake in Realogy Holdings Corp (NYSE:RLGY) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,743,361 shares of the financial services provider’s stock, valued at approximately $152,199,000. Realogy makes up about 37.8% of Okumus Fund Management Ltd.’s portfolio, making the stock its largest holding. Okumus Fund Management Ltd. owned about 4.27% of Realogy at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. purchased a new stake in Realogy during the fourth quarter worth approximately $175,000. Tocqueville Asset Management L.P. acquired a new stake in Realogy in the third quarter valued at $201,000. Country Club Trust Company n.a. acquired a new stake in Realogy in the fourth quarter valued at $203,000. State of Alaska Department of Revenue acquired a new stake in shares of Realogy during the fourth quarter worth $209,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Realogy during the fourth quarter worth $282,000.
Shares of Realogy Holdings Corp (NYSE:RLGY) traded down $0.22 during midday trading on Wednesday, hitting $26.50. The company’s stock had a trading volume of 1,664,598 shares, compared to its average volume of 1,956,924. The company has a market capitalization of $3,469.82, a PE ratio of 8.46, a PEG ratio of 0.70 and a beta of 1.30. Realogy Holdings Corp has a 12 month low of $23.86 and a 12 month high of $35.18. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.80 and a current ratio of 0.80.
Realogy (NYSE:RLGY) last released its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Realogy had a return on equity of 8.74% and a net margin of 7.05%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 earnings per share. equities analysts forecast that Realogy Holdings Corp will post 1.9 EPS for the current year.
Realogy declared that its board has authorized a stock buyback plan on Tuesday, February 27th that allows the company to buyback $350.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Monday, March 12th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, March 9th. This represents a $0.36 annualized dividend and a dividend yield of 1.36%. Realogy’s payout ratio is currently 11.39%.
Several research firms have recently commented on RLGY. JPMorgan Chase & Co. lowered their price target on shares of Realogy to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, December 6th. Piper Jaffray Companies restated a “buy” rating and set a $36.00 price target on shares of Realogy in a research report on Friday, December 22nd. TheStreet lowered shares of Realogy from a “b-” rating to a “c+” rating in a research report on Monday, January 8th. Zacks Investment Research raised shares of Realogy from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 7th. Finally, Stephens reissued a “buy” rating and issued a $33.00 price target on shares of Realogy in a research report on Friday, February 23rd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $33.60.
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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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