New York State Teachers Retirement System Makes New Investment in Newmark Group, Inc. (NASDAQ:NMRK)

New York State Teachers Retirement System acquired a new position in shares of Newmark Group, Inc. (NASDAQ:NMRK) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,348 shares of the company’s stock, valued at approximately $135,000.

Several other institutional investors and hedge funds also recently bought and sold shares of NMRK. Tower Research Capital LLC TRC boosted its stake in Newmark Group by 65.4% during the third quarter. Tower Research Capital LLC TRC now owns 5,157 shares of the company’s stock worth $33,000 after buying an additional 2,040 shares during the period. Captrust Financial Advisors lifted its position in shares of Newmark Group by 44.0% during the second quarter. Captrust Financial Advisors now owns 3,849 shares of the company’s stock worth $37,000 after purchasing an additional 1,176 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Newmark Group by 6,298.8% during the fourth quarter. Bessemer Group Inc. now owns 5,183 shares of the company’s stock worth $41,000 after purchasing an additional 5,102 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Newmark Group during the third quarter worth $44,000. Finally, Lazard Asset Management LLC lifted its position in shares of Newmark Group by 117.8% during the third quarter. Lazard Asset Management LLC now owns 7,161 shares of the company’s stock worth $46,000 after purchasing an additional 3,873 shares during the last quarter. 58.42% of the stock is owned by hedge funds and other institutional investors.

Newmark Group Stock Performance

NMRK stock opened at $9.57 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.59 and a quick ratio of 0.59. The business has a 50-day moving average price of $10.63 and a 200 day moving average price of $9.19. The company has a market capitalization of $1.65 billion, a P/E ratio of 38.28 and a beta of 1.97. Newmark Group, Inc. has a 1-year low of $5.07 and a 1-year high of $11.51.

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

Newmark Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a $0.03 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.12 annualized dividend and a dividend yield of 1.25%. Newmark Group’s payout ratio is currently 48.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NMRK. Keefe, Bruyette & Woods lifted their target price on Newmark Group from $11.00 to $11.25 and gave the stock a “market perform” rating in a research report on Monday, February 26th. Piper Sandler reiterated an “overweight” rating and set a $13.00 target price on shares of Newmark Group in a research report on Tuesday, March 26th.

Newmark Group 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.