Newmark Group (NASDAQ:NMRK) Price Target Increased to $13.50 by Analysts at Keefe, Bruyette & Woods

Newmark Group (NASDAQ:NMRK) had its price objective increased by Keefe, Bruyette & Woods from $13.00 to $13.50 in a report released on Thursday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Newmark Group Stock Performance

Shares of NMRK stock traded down $0.04 during trading on Thursday, reaching $12.27. The company had a trading volume of 955,790 shares, compared to its average volume of 1,062,110. The firm’s 50 day simple moving average is $10.93 and its two-hundred day simple moving average is $10.60. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.56 and a quick ratio of 0.56. Newmark Group has a one year low of $5.09 and a one year high of $13.25. The company has a market capitalization of $2.12 billion, a PE ratio of 55.77 and a beta of 2.02.

Newmark Group (NASDAQ:NMRK) last released its earnings results on Friday, August 2nd. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $633.40 million for the quarter, compared to analyst estimates of $630.27 million. Newmark Group had a return on equity of 17.03% and a net margin of 1.47%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. Sell-side analysts forecast that Newmark Group will post 1.13 earnings per share for the current year.

Newmark Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Friday, August 16th. Newmark Group’s dividend payout ratio (DPR) is currently 54.55%.

Institutional Trading of Newmark Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NMRK. Vanguard Group Inc. grew its holdings in shares of Newmark Group by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company’s stock worth $227,067,000 after purchasing an additional 702,233 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Newmark Group by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,686,191 shares of the company’s stock worth $68,399,000 after purchasing an additional 480,047 shares in the last quarter. Paulson & CO. Inc. grew its holdings in shares of Newmark Group by 133.5% during the 4th quarter. Paulson & CO. Inc. now owns 3,000,000 shares of the company’s stock worth $32,880,000 after purchasing an additional 1,715,375 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Newmark Group by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,969,167 shares of the company’s stock worth $21,582,000 after purchasing an additional 81,209 shares in the last quarter. Finally, Leeward Investments LLC MA grew its holdings in shares of Newmark Group by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 1,907,574 shares of the company’s stock worth $19,514,000 after purchasing an additional 101,426 shares in the last quarter. Institutional investors and hedge funds own 58.42% of the company’s stock.

Newmark Group Company Profile

Newmark Group, Inc provides commercial real estate services in the United States, the United Kingdom, and internationally. The company offers capital markets consisting of investment sales and commercial mortgage brokerage; landlord or agency representation leasing; valuation and advisory; property management; commercial real estate technology platform and capabilities; the United Kingdom business rates services; due diligence, consulting, and other advisory services; GSEs and the Federal Housing Administration lending services comprising multifamily lending and loan servicing; asset management; and flexible workspace solutions for owners.