Vision Capital Corp Takes $17.20 Million Position in Newmark Group, Inc. (NASDAQ:NMRK)

Vision Capital Corp acquired a new position in Newmark Group, Inc. (NASDAQ:NMRK) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,107,714 shares of the company’s stock, valued at approximately $17,203,000. Newmark Group comprises about 2.8% of Vision Capital Corp’s holdings, making the stock its 12th largest holding. Vision Capital Corp owned approximately 0.64% of Newmark Group as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of NMRK. Miller Howard Investments Inc. NY grew its holdings in Newmark Group by 2.4% in the second quarter. Miller Howard Investments Inc. NY now owns 35,091 shares of the company’s stock worth $359,000 after purchasing an additional 823 shares during the last quarter. Diversified Trust Co grew its position in Newmark Group by 4.6% during the 2nd quarter. Diversified Trust Co now owns 24,329 shares of the company’s stock worth $249,000 after purchasing an additional 1,080 shares during the last quarter. Creative Planning raised its holdings in shares of Newmark Group by 3.0% in the second quarter. Creative Planning now owns 39,393 shares of the company’s stock worth $403,000 after buying an additional 1,131 shares during the last quarter. EntryPoint Capital LLC raised its holdings in shares of Newmark Group by 35.5% in the first quarter. EntryPoint Capital LLC now owns 4,422 shares of the company’s stock worth $49,000 after buying an additional 1,159 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Newmark Group by 6.1% during the second quarter. Hsbc Holdings PLC now owns 24,870 shares of the company’s stock valued at $253,000 after buying an additional 1,420 shares during the last quarter. Institutional investors own 58.42% of the company’s stock.

Analyst Upgrades and Downgrades

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

Newmark Group Stock Performance

NMRK opened at $15.18 on Monday. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 50.93 and a beta of 2.01. The firm’s fifty day simple moving average is $15.11 and its two-hundred day simple moving average is $12.82. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.52. Newmark Group, Inc. has a 52-week low of $7.73 and a 52-week high of $16.10.

Newmark Group (NASDAQ:NMRK) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Newmark Group had a return on equity of 18.95% and a net margin of 2.00%. The firm had revenue of $685.90 million for the quarter, compared to analyst estimates of $682.07 million. During the same period in the previous year, the company posted $0.27 earnings per share. The business’s revenue was up 11.3% on a year-over-year basis. Equities analysts anticipate that Newmark Group, Inc. will post 1.15 earnings per share for the current fiscal year.

Newmark Group Dividend Announcement

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

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.