Walker & Dunlop (NYSE:WD) Hits New 52-Week High Following Dividend Announcement

Walker & Dunlop, Inc. (NYSE:WD)’s share price hit a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The stock traded as high as $118.19 and last traded at $116.84, with a volume of 4900 shares traded. The stock had previously closed at $110.89.

The newly announced dividend which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 2.33%. Walker & Dunlop’s dividend payout ratio is currently 100.39%.

Wall Street Analyst Weigh In

WD has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their price target on Walker & Dunlop from $105.00 to $112.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Wolfe Research raised shares of Walker & Dunlop to a “strong-buy” rating in a research report on Tuesday, September 24th. StockNews.com raised shares of Walker & Dunlop from a “sell” rating to a “hold” rating in a report on Sunday, August 11th. Finally, Wedbush lifted their target price on shares of Walker & Dunlop from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th.

Walker & Dunlop Stock Performance

The company has a market capitalization of $3.77 billion, a P/E ratio of 43.38 and a beta of 1.55. The company has a 50-day simple moving average of $110.18 and a 200 day simple moving average of $102.83.

Walker & Dunlop (NYSE:WD) last released its earnings results on Thursday, November 7th. The financial services provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.10). The company had revenue of $292.30 million for the quarter, compared to analyst estimates of $294.24 million. Walker & Dunlop had a net margin of 8.41% and a return on equity of 9.65%. Walker & Dunlop’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.11 earnings per share. As a group, sell-side analysts forecast that Walker & Dunlop, Inc. will post 5.32 earnings per share for the current year.

Insider Activity at Walker & Dunlop

In other news, COO Stephen P. Theobald sold 13,870 shares of Walker & Dunlop stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $106.10, for a total transaction of $1,471,607.00. Following the sale, the chief operating officer now owns 53,869 shares of the company’s stock, valued at approximately $5,715,500.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.47% of the stock is owned by corporate insiders.

Institutional Trading of Walker & Dunlop

Institutional investors have recently made changes to their positions in the business. Castleark Management LLC bought a new position in shares of Walker & Dunlop during the first quarter valued at $4,297,000. UniSuper Management Pty Ltd acquired a new stake in shares of Walker & Dunlop during the first quarter worth approximately $795,000. SG Americas Securities LLC raised its stake in shares of Walker & Dunlop by 144.3% in the second quarter. SG Americas Securities LLC now owns 9,192 shares of the financial services provider’s stock valued at $903,000 after acquiring an additional 5,430 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Walker & Dunlop by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,319,434 shares of the financial services provider’s stock worth $129,566,000 after acquiring an additional 20,739 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Walker & Dunlop during the 1st quarter worth approximately $1,444,000. 80.97% of the stock is currently owned by institutional investors and hedge funds.

Walker & Dunlop Company Profile

Walker & Dunlop, Inc, through its subsidiaries, originates, sells, and services a range of multifamily and other commercial real estate financing products and services for owners and developers of real estate in the United States. It operates through three segments: Capital Markets, Servicing & Asset Management, and Corporate.