RLGY
Realogy Holdings Corp.
TMT, Finance/Real Estate
03/07/2013
Presented
| Date | 03/01/2013 |
| Price | $44.85 |
| Market Cap | $6.52B |
| Ent Value | $10.77B |
| P/E Ratio | 46.84x |
| Book Value | $14.89 |
| Div Yield | N/A |
| Shares O/S | 145.37M |
| Ave Daily Vol | 810,000 |
| Short Int | 3.03% |
Current
| Price | $4.67 |
| Market Cap | $0.52B |
| Realogy Holdings Corp. provides real estate and relocation services worldwide. The companys Real Estate Franchise Services segment franchise its real estate brokerage franchise systems under the Century 21, Coldwell Banker, Coldwell Banker Commercial, ERA, Sothebys International Realty, and Better Homes and Gardens Real Estate brand names to real estate brokerage businesses. As of December 31, 2014, this segments real estate franchise systems had approximately 13,500 offices; and approximately 251,300 independent sales associates worldwide. Its Company Owned Real Estate Brokerage Services segment owns and operates a full-service real estate brokerage business primarily under the Coldwell Banker, Corcoran Group, Sothebys International Realty, ZipRealty, and Citi Habitats brand names to assist home buyers and sellers in listing, marketing, selling, and finding homes. This segment also assists landlords and tenants through property management and leasing services. Its Relocation Services segment offers outsourced employee relocation services, such as homesale assistance, home equity advances to transferees, home finding and other destination services, expense processing, relocation policy counseling and consulting services, arranging household goods moving services, visa and immigration support, intercultural and language training, and group move management services to corporate clients for the transfer of their employees, as well as home buying and selling assistance to members of affinity clients. The companys Title and Settlement Services segment provides title, settlement, and vendor management services to real estate companies, affinity groups, corporations, and financial institutions. This segment also serves as an underwriter of title insurance policies in connection with residential and commercial real estate transactions. Realogy Holdings Corp. is headquartered in Madison, New Jersey. |
Please note, this idea was updated on 7/9/2013 and can be read here: LONG — Realogy Holdings Corp (RLGY) (Update).
Highlights
The timing of Cendent’s 2006 spin-off of RLGY, and the subsequent acquisition by Apollo, could not have been worse; however, Apollo was able to keep the company afloat while management ripped costs out of the business, and the presenter believes RLGY shares have more upside following its successful IPO this past October. He reviewed the following factors supporting his optimistic outlook for the real estate brokerage and franchising company:
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