Cambria Investment Management L.P. Has $354,000 Position in Realogy Holdings Corp (RLGY)

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Cambria Investment Management L.P. cut its stake in shares of Realogy Holdings Corp (NYSE:RLGY) by 4.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,075 shares of the financial services provider’s stock after selling 1,527 shares during the period. Cambria Investment Management L.P.’s holdings in Realogy were worth $354,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Hancock Whitney Corp acquired a new position in Realogy in the fourth quarter valued at about $407,000. Boston Partners lifted its holdings in shares of Realogy by 6.4% in the fourth quarter. Boston Partners now owns 1,614,112 shares of the financial services provider’s stock valued at $23,695,000 after purchasing an additional 96,402 shares in the last quarter. Gotham Asset Management LLC bought a new stake in shares of Realogy in the fourth quarter valued at about $678,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Realogy in the first quarter valued at about $25,000. Finally, Skylands Capital LLC lifted its holdings in shares of Realogy by 341.1% in the first quarter. Skylands Capital LLC now owns 215,050 shares of the financial services provider’s stock valued at $2,452,000 after purchasing an additional 166,300 shares in the last quarter.

In related news, CEO Ryan M. Schneider bought 119,300 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average price of $8.38 per share, for a total transaction of $999,734.00. Following the completion of the acquisition, the chief executive officer now owns 352,761 shares of the company’s stock, valued at approximately $2,956,137.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 122,520 shares of company stock worth $1,032,327 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.

A number of analysts have recently commented on RLGY shares. JPMorgan Chase & Co. cut their price target on Realogy to $14.00 and set an “underweight” rating on the stock in a report on Tuesday, March 5th. Compass Point started coverage on Realogy in a report on Thursday, January 24th. They issued a “neutral” rating and a $16.50 price target on the stock. Finally, Barclays cut 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 and two have issued a hold rating to the stock. Realogy has an average rating of “Sell” and an average price target of $13.60.

Shares of Realogy stock opened at $7.13 on Friday. The stock has a market capitalization of $895.43 million, a PE ratio of 4.75 and a beta of 1.39. Realogy Holdings Corp has a one year low of $7.39 and a one year high of $25.08. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.58 and a current ratio of 0.58.

Realogy (NYSE:RLGY) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported ($0.67) EPS for the quarter, meeting analysts’ consensus estimates of ($0.67). The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.16 billion. Realogy had a return on equity of 6.82% and a net margin of 1.76%. The company’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.38) earnings per share. Analysts predict that Realogy Holdings Corp will post 1.08 earnings per share for the current fiscal year.

Realogy announced that its board has initiated a stock repurchase program on Tuesday, February 26th that authorizes the company to buyback $175.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 8.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.09 per share. The ex-dividend date is Tuesday, May 14th. This represents a $0.36 annualized dividend and a yield of 5.05%. Realogy’s payout ratio is presently 24.00%.

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Realogy 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.

Read More: Understanding Price to Earnings Ratio (PE)

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Institutional Ownership by Quarter for Realogy (NYSE:RLGY)

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