Newmark Group (NASDAQ:NMRK) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Newmark Group (NASDAQ:NMRK) from a hold rating to a strong-buy rating in a research note published on Thursday morning,Zacks.com reports.

NMRK has been the subject of a number of other research reports. Keefe, Bruyette & Woods increased their price objective on shares of Newmark Group from $18.00 to $18.50 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Piper Sandler restated an “overweight” rating and set a $19.00 price target on shares of Newmark Group in a research note on Monday, June 29th. Weiss Ratings upgraded Newmark Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Citizens Jmp lifted their price objective on Newmark Group from $21.00 to $22.00 and gave the company a “market outperform” rating in a research note on Friday, May 1st. Finally, Wall Street Zen cut Newmark Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Newmark Group presently has an average rating of “Buy” and an average target price of $19.62.

Newmark Group Stock Up 2.3%

Shares of NMRK opened at $15.39 on Thursday. The company’s 50-day moving average price is $14.97 and its 200 day moving average price is $15.49. Newmark Group has a 12-month low of $13.31 and a 12-month high of $19.83. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.50. The firm has a market cap of $2.73 billion, a P/E ratio of 19.00 and a beta of 1.68.

Newmark Group (NASDAQ:NMRK) last announced its earnings results on Friday, May 8th. The company reported $0.08 earnings per share for the quarter. Newmark Group had a net margin of 4.30% and a return on equity of 26.23%. The company had revenue of $846.52 million during the quarter. On average, sell-side analysts forecast that Newmark Group will post 1.99 earnings per share for the current year.

Newmark Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Thursday, May 14th were paid a dividend of $0.06 per share. The ex-dividend date was Thursday, May 14th. This is a positive change from Newmark Group’s previous quarterly dividend of $0.03. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.6%. Newmark Group’s payout ratio is currently 29.63%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. increased its position in shares of Newmark Group by 422.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,039,976 shares of the company’s stock valued at $35,373,000 after purchasing an additional 1,649,189 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Newmark Group during the 2nd quarter worth $14,580,000. Ameriprise Financial Inc. grew its stake in shares of Newmark Group by 88.9% during the second quarter. Ameriprise Financial Inc. now owns 2,520,314 shares of the company’s stock worth $30,622,000 after purchasing an additional 1,186,191 shares in the last quarter. Wellington Management Group LLP increased its holdings in Newmark Group by 194.1% in the third quarter. Wellington Management Group LLP now owns 1,575,475 shares of the company’s stock valued at $29,383,000 after buying an additional 1,039,798 shares during the last quarter. Finally, Raymond James Financial Inc. increased its holdings in Newmark Group by 84.5% in the second quarter. Raymond James Financial Inc. now owns 1,336,702 shares of the company’s stock valued at $16,241,000 after buying an additional 612,363 shares during the last quarter. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Newmark Group Company Profile

Newmark Group, Inc is a publicly traded commercial real estate advisory firm headquartered in New York City. The company provides a comprehensive suite of services to real estate investors, occupiers and developers, including leasing advisory, property management, capital markets placement, loan servicing, valuation and advisory services. Newmark’s platform integrates local market expertise with national reach to support clients across diverse property types such as office, industrial, retail, multifamily and specialty assets.

Operating across two principal segments—global corporate services and capital markets & property-level services—Newmark delivers tailored solutions encompassing tenant representation, landlord leasing, investment sales, debt and equity financing, and appraisal services.