Newmark Group (NASDAQ:NMRK) Given New $13.00 Price Target at Keefe, Bruyette & Woods

Newmark Group (NASDAQ:NMRK) had its price target boosted by Keefe, Bruyette & Woods from $11.25 to $13.00 in a research report released on Thursday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Newmark Group Stock Up 3.6 %

Shares of Newmark Group stock opened at $12.35 on Thursday. The business has a 50-day moving average of $10.56 and a 200-day moving average of $10.43. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $2.13 billion, a PE ratio of 56.14 and a beta of 2.02. Newmark Group has a 1-year low of $5.09 and a 1-year high of $12.69.

Newmark Group (NASDAQ:NMRK) last announced its earnings results on Friday, May 3rd. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). The business had revenue of $546.50 million for the quarter, compared to analyst estimates of $526.07 million. Newmark Group had a net margin of 1.47% and a return on equity of 17.03%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 earnings per share. As a group, equities analysts forecast that Newmark Group will post 1.12 EPS for the current fiscal year.

Newmark Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.12 annualized dividend and a dividend yield of 0.97%. Newmark Group’s dividend payout ratio is presently 54.55%.

Institutional Trading of Newmark Group

Several large investors have recently modified their holdings of the business. Tranquility Partners LLC grew its stake in shares of Newmark Group by 2.4% during the second quarter. Tranquility Partners LLC now owns 139,064 shares of the company’s stock valued at $1,423,000 after acquiring an additional 3,246 shares in the last quarter. Fifth Third Bancorp acquired a new position in Newmark Group in the second quarter worth about $33,000. Leeward Investments LLC MA grew its stake in Newmark Group by 5.6% in the second 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. Assenagon Asset Management S.A. grew 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 worth $7,246,000 after purchasing an additional 506,510 shares in the last quarter. Finally, Diversified Trust Co grew its stake in Newmark Group by 4.6% in the second quarter. Diversified Trust Co now owns 24,329 shares of the company’s stock worth $249,000 after purchasing an additional 1,080 shares in the last quarter. 58.42% of the stock is currently owned by institutional investors and hedge funds.

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.