Newmark Group (NASDAQ:NMRK) Downgraded by Wolfe Research to “Peer Perform”

Wolfe Research downgraded shares of Newmark Group (NASDAQ:NMRK) from an outperform rating to a peer perform rating in a report released on Monday morning, MarketBeat.com reports.

Several other research firms also recently weighed in on NMRK. Piper Sandler lifted their target price on shares of Newmark Group from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Keefe, Bruyette & Woods raised shares of Newmark Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $13.50 to $16.50 in a research report on Thursday, September 5th.

Newmark Group Stock Performance

Newmark Group stock opened at $15.52 on Monday. The firm’s 50 day simple moving average is $15.11 and its 200-day simple moving average is $12.82. The company has a market cap of $2.66 billion, a P/E ratio of 51.73 and a beta of 2.01. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.42 and a quick ratio of 0.42. Newmark Group has a fifty-two week low of $7.73 and a fifty-two week high of $16.10.

Newmark Group (NASDAQ:NMRK) last released its earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $685.90 million for the quarter, compared to the consensus estimate of $682.07 million. Newmark Group had a net margin of 2.00% and a return on equity of 18.95%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. As a group, equities research analysts predict that Newmark Group will post 1.15 EPS for the current year.

Newmark Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Thursday, November 21st. Newmark Group’s payout ratio is presently 40.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its stake in Newmark Group by 1,017.4% in the third quarter. Principal Financial Group Inc. now owns 2,137,630 shares of the company’s stock valued at $33,197,000 after acquiring an additional 1,946,322 shares during the last quarter. Vision Capital Corp acquired a new stake in Newmark Group in the third quarter valued at approximately $17,203,000. Vanguard Group Inc. lifted its stake in Newmark Group by 3.6% in the first quarter. Vanguard Group Inc. now owns 20,474,932 shares of the company’s stock valued at $227,067,000 after acquiring an additional 702,233 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Newmark Group by 1,595.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 713,621 shares of the company’s stock valued at $7,914,000 after acquiring an additional 671,521 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Newmark Group by 251.0% in the second quarter. Assenagon Asset Management S.A. now owns 708,300 shares of the company’s stock valued at $7,246,000 after acquiring an additional 506,510 shares during the last quarter. 58.42% of the stock is owned by hedge funds and other institutional investors.

About Newmark Group

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.