Piper Sandler Reiterates Overweight Rating for Newmark Group (NASDAQ:NMRK)

Piper Sandler reaffirmed their overweight rating on shares of Newmark Group (NASDAQ:NMRK) in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a $13.00 price objective on the stock.

Separately, Keefe, Bruyette & Woods raised their target price on Newmark Group from $11.00 to $11.25 and gave the stock a market perform rating in a research note on Monday, February 26th.

Newmark Group Trading Up 0.1 %

Shares of NMRK stock opened at $11.09 on Tuesday. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 44.36 and a beta of 1.97. The stock has a 50-day moving average of $10.60 and a 200-day moving average of $8.80. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.35. Newmark Group has a 1-year low of $5.07 and a 1-year high of $11.51.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. The company had revenue of $747.70 million during the quarter, compared to analysts’ expectations of $743.53 million. Newmark Group had a return on equity of 17.03% and a net margin of 1.72%. During the same quarter in the prior year, the firm posted $0.32 earnings per share. On average, equities research analysts forecast that Newmark Group will post 1.12 earnings per share for the current year.

Newmark Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.12 annualized dividend and a yield of 1.08%. Newmark Group’s dividend payout ratio is currently 48.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Paulson & CO. Inc. lifted its holdings in shares of Newmark Group by 133.5% in the fourth quarter. Paulson & CO. Inc. now owns 3,000,000 shares of the company’s stock valued at $32,880,000 after purchasing an additional 1,715,375 shares in the last quarter. American Century Companies Inc. increased its position in Newmark Group by 410.2% in the third quarter. American Century Companies Inc. now owns 1,672,287 shares of the company’s stock worth $10,753,000 after buying an additional 1,344,514 shares during the last quarter. Norges Bank purchased a new stake in Newmark Group in the fourth quarter worth $10,548,000. Vanguard Group Inc. increased its position in Newmark Group by 5.3% in the first quarter. Vanguard Group Inc. now owns 26,213,288 shares of the company’s stock worth $417,315,000 after buying an additional 1,309,242 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its position in Newmark Group by 142.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,176,781 shares of the company’s stock worth $34,654,000 after buying an additional 1,278,444 shares during the last quarter. Institutional investors 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.