SEC filings reveal BlackRockÕ substantial interest in housing

Ownership disclosures show breadth of empire

Over the last few weeks, HousingWire has chronicled the stock ownership disclosures of BlackRock (BLK), revealing that the company holds significant interest in many of housing’s biggest names, including Altisource Residential Corporation (RESI), Home Loan Servicing Solutions (HLSS), CoreLogic (CLGX) and Lowe’s (LOW).

As it turns out, those disclosures only scratch the surface of how deep BlackRock’s roots extend into housing.

New filings with the Securities and Exchange Commission show that BlackRock holds a substantial stake in at least seven of the biggest players in housing, including Trulia (TRLA), Fidelity National Financial (FNF), Walter Investment Management Corp. (WAC), Radian (RDN), Home Depot (HD), MGIC Investment Corp. (MTG), and PHH Corporation (PHH).

Of those seven companies, BlackRock’s ownership stake in Home Depot is the largest, by far. According to SEC filings, BlackRock holds 83,613,413 shares of Home Depot, which represents 6.4% of Home Depot’s total outstanding shares.

And with Home Depot trading at $108.69 as of 12:04 p.m. Eastern on Monday, BlackRock’s stake in Home Depot is worth $9.1 billion.

Interestingly, BlackRock also holds a multi-billion-dollar stake in Home Depot’s largest competitor, Lowe’s. BlackRock currently owns 59,104,604 shares of the home improvement store’s stock, which represents 6.1% of the outstanding shares in Lowe’s. And with Lowe’s currently trading at $71.32 per share, BlackRock’s shares are worth $4.2 billion.

But in terms of monetary value, BlackRock’s stake in Home Depot exceeds its ownership stake in any of the other companies above by a massive margin.

BlackRock also owns 14,033,023 shares of Fidelity National, which marks 5.1% of the total outstanding shares of the company. And with Fidelity trading at $35.84, BlackRock’s shares are worth $502.94 million.

Additionally, BlackRock owns 10,701,436 shares of Radian, which represents 5.6% of the company’s total shares. With Radian trading at $16.82, BlackRock’s shares are worth just shy of $180 million.

BlackRock also owns 19,912,504 shares of MGIC, representing 5.9% of the company’s total shares. With MGIC trading at $8.93, BlackRock’s shares are worth $177.82 million.

BlackRock’s interest in Trulia is the smallest of these seven companies in terms of shares, with BlackRock owning 2,014,102 shares of the online real estate listing service. But with Trulia trading at $44.84, BlackRock’s shares are worth just over $90 million.

As for PHH, BlackRock owns 2,928,568 shares, which represents 5.8% of the company’s outstanding shares. With the stock trading at $24.58, BlackRock’s shares of PHH are worth $71.98 million.

In terms of dollar amount, BlackRock’s ownership stake in Walter Investment is the smallest. According to the SEC filings, BlackRock owns 2,050,777 shares of Walter, representing 5.4% of the company’s outstanding shares. And with Walter trading at $18.87, BlackRock’s shares are worth $39.7 million.

But as previously reported by HousingWire, Walter Investment isn’t the only nonbank that BlackRock owns stock in.

BlackRock is also the owner of 7.5% of the stock in Altisource Residential, a company often considered as an associate of Ocwen Financial (OCN).

BlackRock also owns 4,811,797 shares in Home Loan Servicing Solutions, another Ocwen associate. Those shares represent 6.8% of Home Loan Servicing Solutions’ outstanding shares.

At a certain point, the question is going to become, which of housing’s biggest players doesn’t BlackRock own? 

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