Vision Capital Corp Buys Shares of 1,107,714 Newmark Group, Inc. (NASDAQ:NMRK)

Vision Capital Corp bought a new position in Newmark Group, Inc. (NASDAQ:NMRK) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 1,107,714 shares of the company’s stock, valued at approximately $17,203,000. Newmark Group comprises approximately 2.8% of Vision Capital Corp’s portfolio, making the stock its 12th biggest position.

A number of other hedge funds have also recently modified their holdings of NMRK. Fifth Third Bancorp purchased a new position in Newmark Group during the second quarter worth about $33,000. EntryPoint Capital LLC raised its position in shares of Newmark Group by 35.5% during the 1st quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock valued at $49,000 after buying an additional 1,159 shares during the period. Assetmark Inc. acquired a new position in Newmark Group in the third quarter valued at approximately $93,000. SG Americas Securities LLC acquired a new position in Newmark Group in the third quarter valued at approximately $112,000. Finally, Blue Trust Inc. grew its position in Newmark Group by 408.2% in the third quarter. Blue Trust Inc. now owns 9,401 shares of the company’s stock worth $146,000 after acquiring an additional 7,551 shares during the period. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Newmark Group Stock Performance

Shares of Newmark Group stock opened at $15.18 on Monday. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 50.93 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. The business has a 50-day moving average of $15.11 and a 200 day moving average of $12.82. Newmark Group, Inc. has a 12 month low of $7.73 and a 12 month high of $16.10.

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

Newmark Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be issued a $0.03 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.79%. Newmark Group’s dividend payout ratio (DPR) is presently 40.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wolfe Research downgraded Newmark Group from an “outperform” rating to a “peer perform” rating in a research report on Monday. Keefe, Bruyette & Woods raised shares of Newmark Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $13.50 to $16.50 in a research note on Thursday, September 5th. Finally, Piper Sandler boosted their price target on shares of Newmark Group from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd.

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.