Deutsche Bank AG Has $12.64 Million Stake in Realogy Holdings Corp (RLGY)
Deutsche Bank AG boosted its holdings in Realogy Holdings Corp (NYSE:RLGY) by 112.6% during the 4th quarter, HoldingsChannel reports. The fund owned 861,055 shares of the financial services provider’s stock after buying an additional 456,117 shares during the period. Deutsche Bank AG’s holdings in Realogy were worth $12,639,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Enlightenment Research LLC bought a new position in Realogy in the 4th quarter valued at approximately $31,000. Panagora Asset Management Inc. lifted its position in Realogy by 87.6% in the 3rd quarter. Panagora Asset Management Inc. now owns 6,638 shares of the financial services provider’s stock valued at $137,000 after acquiring an additional 3,100 shares in the last quarter. Quantamental Technologies LLC bought a new position in Realogy in the 4th quarter valued at approximately $151,000. Great Lakes Advisors LLC bought a new position in Realogy in the 3rd quarter valued at approximately $214,000. Finally, Dupont Capital Management Corp bought a new position in Realogy in the 4th quarter valued at approximately $189,000.
Several equities analysts have recently weighed in on RLGY shares. Compass Point raised Realogy from a “sell” rating to a “neutral” rating and increased their price target for the company from $11.25 to $12.50 in a report on Wednesday, April 10th. JPMorgan Chase & Co. lowered their price target on Realogy from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. Finally, Barclays lowered their price target on Realogy from $17.00 to $13.00 and set an “underweight” rating on the stock in a report on Wednesday, February 27th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Realogy presently has a consensus rating of “Hold” and a consensus price target of $19.93.
Realogy (NYSE:RLGY) last released its quarterly earnings results on Tuesday, February 26th. The financial services provider reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.08). The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.41 billion. Realogy had a net margin of 2.25% and a return on equity of 7.77%. Realogy’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 earnings per share. As a group, analysts forecast that Realogy Holdings Corp will post 1.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 11th were issued a dividend of $0.09 per share. The ex-dividend date was Friday, March 8th. This represents a $0.36 annualized dividend and a dividend yield of 2.82%. Realogy’s payout ratio is 24.00%.
Realogy declared that its board has authorized a stock repurchase plan on Tuesday, February 26th that permits the company to buyback $175.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 8.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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Realogy 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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