Realogy Holdings Corp (NYSE:RLGY) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $6.60 and last traded at $6.63, with a volume of 78224 shares changing hands. The stock had previously closed at $6.99.
A number of research firms have issued reports on RLGY. Stephens cut Realogy from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $16.00 to $8.00 in a research note on Monday. Barclays set a $9.00 target price on Realogy and gave the company a “sell” rating in a research note on Friday, May 3rd. Compass Point cut Realogy from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $12.50 to $8.00 in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on Realogy from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Sell” and a consensus target price of $12.67.
The company has a debt-to-equity ratio of 1.83, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a market capitalization of $748.10 million, a price-to-earnings ratio of 4.62 and a beta of 1.77.
Realogy (NYSE:RLGY) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported ($0.67) earnings per share for the quarter, hitting the consensus estimate of ($0.67). The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Realogy had a return on equity of 6.82% and a net margin of 1.76%. Realogy’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.38) earnings per share. On average, equities research analysts predict that Realogy Holdings Corp will post 1.08 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Wednesday, May 15th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.36 annualized dividend and a dividend yield of 5.19%. Realogy’s dividend payout ratio is currently 24.00%.
Realogy declared that its board has authorized a stock repurchase program on Tuesday, February 26th that permits the company to buyback $175.00 million in shares. This buyback authorization permits the financial services provider to repurchase up to 8.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
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. 1.20% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hancock Whitney Corp bought a new stake in Realogy during the fourth quarter worth about $407,000. Boston Partners raised its holdings in Realogy by 6.4% during the fourth quarter. Boston Partners now owns 1,614,112 shares of the financial services provider’s stock worth $23,695,000 after acquiring an additional 96,402 shares in the last quarter. Gotham Asset Management LLC bought a new stake in Realogy during the fourth quarter worth about $678,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Realogy during the first quarter worth about $25,000. Finally, Skylands Capital LLC raised its holdings in Realogy by 341.1% during the first quarter. Skylands Capital LLC now owns 215,050 shares of the financial services provider’s stock worth $2,452,000 after acquiring an additional 166,300 shares in the last quarter.
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Realogy Company Profile (NYSE:RLGY)
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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