Sep. 13 at 1:36 PM
$ALLE Institutional investors are trimming stakes, Allegion declared a routine quarterly dividend of
$0.51 per share, & quarterly revenue came in about 5.8% higher YoY. Shares trade above the 50-day moving average, which changes nothing about the fact that valuation remains far from cheap.
#RKT Notes: The Redfin purchase. Fifty million monthly visitors now feed into a mortgage machine already chained to rate cycles. A funnel. Falling rates. Rates down, volumes up. This is the entire “thesis.” It was true yesterday, it will be true tomorrow. Mr. Cooper synergies. They promise
$500 million in “synergies.” Redfin synergies. Over
$200 million projected. Allegedly from cost cuts & cross-selling. EPS boost. Analysts raised 2026 EPS forecasts by 11%. The uptick relies on rate declines & synergies.
