Newmark Group, Inc. Announces Quarterly Dividend of $0.03 (NASDAQ:NMRK)

Newmark Group, Inc. (NASDAQ:NMRK) announced a quarterly dividend on Tuesday, October 31st, Wall Street Journal reports. Stockholders of record on Wednesday, November 22nd will be given a dividend of 0.03 per share on Wednesday, December 6th. This represents a $0.12 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Tuesday, November 21st.

Newmark Group has decreased its dividend by an average of 36.5% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Newmark Group has a payout ratio of 11.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Newmark Group to earn $1.08 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 11.1%.

Newmark Group Stock Performance

NASDAQ NMRK opened at $7.83 on Friday. Newmark Group has a 1 year low of $5.07 and a 1 year high of $9.36. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 87.01 and a beta of 1.74. The company has a fifty day moving average price of $6.38 and a 200-day moving average price of $6.48.

Newmark Group (NASDAQ:NMRK) last posted its earnings results on Wednesday, November 1st. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.03). Newmark Group had a return on equity of 14.67% and a net margin of 0.66%. The firm had revenue of $616.30 million during the quarter, compared to the consensus estimate of $606.27 million. During the same quarter in the previous year, the company earned $0.35 EPS. The business’s revenue was down 7.3% compared to the same quarter last year. As a group, equities research analysts predict that Newmark Group will post 1.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Newmark Group from $7.50 to $7.00 in a research report on Tuesday, October 3rd. Raymond James lowered shares of Newmark Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 4th.

Hedge Funds Weigh In On Newmark Group

Institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC lifted its holdings in Newmark Group by 10.1% during the second quarter. ProShare Advisors LLC now owns 17,514 shares of the company’s stock valued at $109,000 after purchasing an additional 1,608 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Newmark Group by 117.9% during the third quarter. Tower Research Capital LLC TRC now owns 12,982 shares of the company’s stock valued at $105,000 after purchasing an additional 7,025 shares during the last quarter. Royal Bank of Canada lifted its holdings in Newmark Group by 41.6% during the third quarter. Royal Bank of Canada now owns 12,514 shares of the company’s stock valued at $101,000 after purchasing an additional 3,674 shares during the last quarter. XTX Topco Ltd purchased a new stake in Newmark Group during the first quarter valued at about $99,000. Finally, Ensign Peak Advisors Inc lifted its holdings in Newmark Group by 11.6% during the third quarter. Ensign Peak Advisors Inc now owns 12,230 shares of the company’s stock valued at $99,000 after purchasing an additional 1,270 shares during the last quarter. Institutional investors own 53.82% of the company’s stock.

About Newmark Group

Newmark Group, Inc provides commercial real estate services in the United States and internationally. The company's investor/owner services and products include capital markets, such as investment, debt and structured finance, and loan sales; agency leasing, property management, and valuation and advisory; and commercial real estate due diligence consulting and advisory services, as well as government sponsored enterprise lending, loan servicing, mortgage broking, and equity-raising services.