Longleaf Partners: “Anywhere Real Estate (HOUS) is in a Position to Be On Offense”

Longleaf Partners Fund, a Memphis-based fund under Southeastern Asset Management, published its “Longleaf Partners Small-Cap Fund” second quarter 2022 investor letter – a copy of which can be downloaded here. Longleaf Partners Small-Cap Fund declined 15.66% in the second quarter, outperforming the Russell 2000 Index, which declined 17.20%, and roughly in line with the Russell 2000 Value. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Longleaf Partners Small-Cap Fund mentioned Anywhere Real Estate Inc. (NYSE:HOUS) and explained its insights for the company. Founded in 2006, Anywhere Real Estate Inc. (NYSE:HOUS) is a Madison, New Jersey-based real estate services company with a $1.01 billion market capitalization. Anywhere Real Estate Inc. (NYSE:HOUS) delivered a -47.06% return since the beginning of the year, while its 12-month returns are down by -48.91%. The stock closed at $8.90 per share on September 20, 2022.

 Here is what Longleaf Partners Small-Cap Fund has to say about Anywhere Real Estate Inc. (NYSE:HOUS) in its Q2 2022 investor letter:

“Anywhere (previously Realogy) – Real estate brokerage franchisor Anywhere declined amid concerns over the housing market and spiking mortgage rates, in a sharp reversal from the last year. However, Anywhere is better positioned as a franchisor with franchised fees tied to home price appreciation, which should continue over the long-term. Multi-year demand fundamentals for the industry are strong with millennial home buying set to increase over the next decade. We also expect capital allocation to be another tailwind as the company is in a position to be on offense.”

sean-pollock-PhYq704ffdA-unsplash (1)

Our calculations show that Anywhere Real Estate Inc. (NYSE:HOUS) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds.  Anywhere Real Estate Inc. (NYSE:HOUS) delivered a -8.34% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.