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

Piper Sandler reiterated their overweight rating on shares of Newmark Group (NASDAQ:NMRK) in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a $13.00 price target on the stock.

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

Newmark Group Stock Performance

NASDAQ:NMRK opened at $11.09 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.35. Newmark Group has a twelve month low of $5.07 and a twelve month high of $11.51. The stock has a market cap of $1.91 billion, a P/E ratio of 44.36 and a beta of 1.97. The firm’s fifty day simple moving average is $10.58 and its 200 day simple moving average is $8.77.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. Newmark Group had a net margin of 1.72% and a return on equity of 17.03%. The company had revenue of $747.70 million for the quarter, compared to analysts’ expectations of $743.53 million. During the same quarter in the previous year, the company earned $0.32 earnings per share. As a group, research analysts predict that Newmark Group will post 1.12 EPS for the current year.

Newmark Group Announces Dividend

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

Institutional Investors Weigh In On Newmark Group

Several hedge funds have recently added to or reduced their stakes in the stock. Paulson & CO. Inc. raised its position in shares of Newmark Group by 133.5% in 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 during the last quarter. American Century Companies Inc. raised its holdings 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 bought a new position in shares of Newmark Group in the fourth quarter worth approximately $10,548,000. Vanguard Group Inc. grew its holdings in shares of Newmark Group by 5.3% during the first quarter. Vanguard Group Inc. now owns 26,213,288 shares of the company’s stock valued at $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 shares of Newmark Group by 142.3% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,176,781 shares of the company’s stock valued at $34,654,000 after acquiring an additional 1,278,444 shares in the last quarter. 58.42% of the stock is owned by 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.