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 paid a dividend of 0.03 per share on Wednesday, December 6th. This represents a $0.12 dividend on an annualized basis 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% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Newmark Group has a payout ratio of 11.9% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 1.7 %

Shares of NMRK opened at $7.83 on Monday. Newmark Group has a 12-month low of $5.07 and a 12-month high of $9.36. The firm has a fifty day moving average price of $6.38 and a 200-day moving average price of $6.49. The firm has a market capitalization of $1.35 billion, a P/E ratio of 87.00 and a beta of 1.74. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.41.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). Newmark Group had a return on equity of 14.67% and a net margin of 0.66%. The business had revenue of $616.30 million during the quarter, compared to analysts’ expectations of $606.27 million. During the same period last year, the company earned $0.35 earnings per share. The firm’s revenue was down 7.3% compared to the same quarter last year. Equities research analysts expect that Newmark Group will post 1.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NMRK. Raymond James lowered shares of Newmark Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 4th. Keefe, Bruyette & Woods decreased their price target on shares of Newmark Group from $7.50 to $7.00 in a research report on Tuesday, October 3rd.

Hedge Funds Weigh In On Newmark Group

Hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors increased its holdings 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 valued at $37,000 after acquiring an additional 1,176 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Newmark Group by 65.4% during the third quarter. Tower Research Capital LLC TRC now owns 5,157 shares of the company’s stock valued at $33,000 after acquiring an additional 2,040 shares in the last quarter. Bessemer Group Inc. increased its holdings 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 valued at $41,000 after acquiring an additional 5,102 shares in the last quarter. Lazard Asset Management LLC increased its holdings 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 valued at $46,000 after acquiring an additional 3,873 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Newmark Group by 23.1% during the first quarter. Great West Life Assurance Co. Can now owns 9,971 shares of the company’s stock valued at $168,000 after acquiring an additional 1,868 shares in the last quarter. Institutional investors and hedge funds 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.