Realogy Corp. (NYSE: H) today announced that it plans to repurchase up to 11 million shares of its common stock through open market purchases. This is in addition to 37 million shares that the company has already repurchased.

The company, which formed as a spin-off of the real estate-related operations at Cendant Corp., also announced that it expects third-quarter results to be consistent with its most recent projections for full-year 2006, which were announced on Aug. 23 and reconfirmed Sept. 27.

These projections indicated that EBITDA (earnings before interest, taxes, depreciation, and amortization), excluding separation, restructuring and legacy costs of its former parent company that were incurred by Realogy, is expected to range from $800 million to $900 million for the full year, according to the announcement.

The company expects its third-quarter revenue to be in the range of $1.7 billion to $1.75 billion. EBITDA, excluding separation, restructuring and legacy costs of its former parent incurred by Realogy, is expected in the range of $265 million to $280 million; and net income, on the same basis, is expected to range between $125 million to $135 million.

Net income, after deducting estimated separation, restructuring and legacy costs of our former parent incurred by us, is expected to range from $65 million to $90 million for the quarter. The majority of the aggregate separation, restructuring and legacy costs of the company’s former parent incurred by Realogy are noncash expenses, according to the report.

The New York Times reported that several private equity firms are interested in a possible takeover of Realogy, which owns and franchises such major brands as Century 21, Coldwell Banker, ERA and Sotheby’s International Realty. And the newspaper also reported, “Some analysts say that the company’s decision to buy back nearly 20 percent of its shares may be a prelude to an acquisition by a private equity firm.”

Realogy’s price per share has ranged between $19.90 and $26.20 since the company was launched, and it was trading at $23.16 as of 10:34 a.m. today, up 22 cents for the day.

The company plans to release third-quarter results after the market closes on Nov. 1. The company will also hold a conference call to review the results at 5 p.m. Eastern Time on Nov. 1. The call will be hosted by Henry R. Silverman, chairman and CEO; Richard A. Smith, vice chairman and president; and Anthony E. Hull, executive vice president, CFO and treasurer.

Investors can access the conference call live at or by calling (888) 577-8991 and referencing “Realogy.” International participants can dial (210) 234-0010. The company recommends that callers dial in at least five to 10 minutes prior to the start of the call.

A Web replay will be available at following the call. A telephone replay will be available from 8 p.m. EST on Nov. 1 until 10 p.m. EST on Nov. 8 at (800) 251-9790; international participants can dial (402) 220-9702, the announcement states.

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