Industry News

Who owns real estate giant Homestore?

Fund managers, corporate officers own chunks of online company

Most real estate professionals may not know much about FMR Corp. or Capital Research and Management Co., but these companies must know a fair amount about online real estate through their large ownership stakes in Homestore, the real estate media and technology company that operates Realtor.com, an official Web site of the National Association of Realtors. Capital Research, a 73-year-old investment management firm, owns 13.6 million common stock shares, or 11.1 percent, of Homestore, according to a Securities and Exchange Commission report the company filed Thursday. Capital Research manages 29 mutual funds and provides investment services for corporations, banks, trust companies and retirement plans. The company oversees more than $500 billion in assets. Capital Research's stake is worth $65.3 million, based on Homestore's (Nasdaq: HOMS) closing price Friday of $4.80 a share. FMR Corp., a mutual fund giant that is part of Fidelity Investments, owns 13.5 million shares, or 11 percen...