"CoStar Group is focused on executing our proven playbook to build on our momentum as we enter our next chapter of margin expansion and profitable growth. We look forward to continuing to engage with stockholders as we continue to unlock the tremendous value of our digital ecosystem."
"Third Point sent a letter to CoStar's board of directors calling on the firm to replace the majority of the board with more qualified directors, refocus on the firm's core commercial real estate business and consider strategic alternatives for Homes.com."
"CoStar has said that divesting Homes.com would cause the firm and its investors irreparable harm. This letter came nearly a year after Third Point called on CoStar to embark on a journey of meaningful self-help."
"While the update painted a fairly rosy picture for the firm as a whole in 2026, with estimated 18% year-over-year revenue growth, things did not look quite as strong for CoStar's Homes.com."
Third Point divested its shares of CoStar Group following dissatisfaction with the board's performance and strategic direction. The firm had previously urged CoStar to replace board members and refocus on its core business. CoStar responded by emphasizing its commitment to growth and value creation. Despite Homes.com showing subscriber growth, CoStar expressed concerns about its future profitability. Third Point's actions reflect ongoing tensions regarding corporate governance and strategic priorities within CoStar Group.
Read at www.housingwire.com
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