Newmark Group (NASDAQ:NMRK) Upgraded at Zacks Research

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

A number of other research analysts also recently issued reports on NMRK. Piper Sandler reaffirmed an “overweight” rating and set a $19.00 price target on shares of Newmark Group in a report on Monday, June 29th. Keefe, Bruyette & Woods lifted their price objective on Newmark Group from $18.00 to $18.50 and gave the stock an “outperform” rating in a report on Friday, May 1st. Weiss Ratings raised Newmark Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Citizens Jmp upped their target price on shares of 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 downgraded shares of Newmark Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $19.62.

Newmark Group Trading Up 2.3%

NASDAQ: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 52 week low of $13.31 and a 52 week high of $19.83. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.50. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 19.00 and a beta of 1.68.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Friday, May 8th. The company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $846.52 million for the quarter. Newmark Group had a return on equity of 26.23% and a net margin of 4.30%. On average, equities research analysts forecast that Newmark Group will post 1.99 earnings per share for the current fiscal year.

Newmark Group Increases Dividend

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

Institutional Trading of Newmark Group

Several large investors have recently modified their holdings of the company. Millstone Evans Group LLC lifted its holdings in Newmark Group by 366.3% in the first quarter. Millstone Evans Group LLC now owns 1,646 shares of the company’s stock valued at $25,000 after acquiring an additional 1,293 shares during the period. Advisory Services Network LLC purchased a new position in Newmark Group in the third quarter worth about $29,000. Larson Financial Group LLC grew its stake in shares of Newmark Group by 98.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,840 shares of the company’s stock valued at $34,000 after purchasing an additional 915 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Newmark Group by 42.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,676 shares of the company’s stock valued at $46,000 after purchasing an additional 797 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in shares of Newmark Group by 4,587.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,687 shares of the company’s stock valued at $82,000 after purchasing an additional 4,587 shares during the last quarter. Institutional investors own 58.42% of the company’s stock.

About Newmark Group

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.