Investment firm BlackRock upped its stake in Realogy to roughly 16 percent with the purchase of approximately 8 million shares, the company announced in an SEC filing Friday.

The doubling down from BlackRock comes amid a time of equity market turmoil for the nation’s largest real estate holding company. Shares of Realogy are trading below $6 per share this week for the first time since the company’s 2012 initial public offering.

The vast majority of BlackRock’s equity holdings on behalf of clients are in index strategies, colloquially known as passive funds, which track the investment results of third-party indices, according to another investor source. Index providers determine which companies are included in the index, so the change in share ownership may not necessarily be a reflection of a portfolio manager’s view on the merits of a specific company.

Realogy was changed from the S&P Mid-Cap 400 to the SmallCap 600 on June 4 of this year, so it’s possible that could have led to the change in holdings, although BlackRock did not confirm whether that is the case.

BlackRock owns a significant stake in RE/MAX as well, with more than 2.6 million shares, or roughly a 15 percent stake in the company, according to data from investment research firm Morningstar. Meanwhile, BlackRock also owns 2.3 million shares in Zillow for a 1.1 percent stake; a 0.78 percent stake in eXp World Holdings with 481,000 shares; and a 5.6 percent stake in Redfin, with 5.1 million shares, according to Morningstar.

BlackRock and Realogy both declined to comment. BlackRock will report its second quarter earnings on July 19.

Email Patrick Kearns

How do you stay ahead in a changing market? Inman Connect Las Vegas — featuring 250+ experts from across the industry sharing insight and tactics to navigate threat and seize opportunity in tomorrow’s real estate market. Join more than 4,000 top producers, brokers and industry leaders to network and discover what’s next, July 23-26 at the Aria Resort. Hurry! Tickets are going fast, register today!

Thinking of bringing your team? There are special onsite perks and discounts when you buy tickets together. Contact us to find out more.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Inman Connect is LIVE next week! Join us and thousands of your peers from wherever you are.Register Today×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription