Newmark Group, Inc. (NMRK) to Issue Quarterly Dividend of $0.03 on March 22nd

Newmark Group, Inc. (NASDAQ:NMRKGet Free Report) declared a quarterly dividend on Wednesday, February 21st, Wall Street Journal reports. Investors of record on Friday, March 8th will be paid a dividend of 0.03 per share on Friday, March 22nd. This represents a $0.12 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Thursday, March 7th.

Newmark Group has decreased its dividend by an average of 2.6% annually over the last three years. Newmark Group has a payout ratio of 9.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Newmark Group to earn $1.29 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 9.3%.

Newmark Group Stock Up 2.2 %

Shares of NMRK opened at $11.00 on Tuesday. Newmark Group has a 52 week low of $5.07 and a 52 week high of $11.35. The firm has a market cap of $1.90 billion, a P/E ratio of 44.00 and a beta of 1.97. The firm’s 50-day simple moving average is $10.38 and its 200 day simple moving average is $8.31. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.59 and a current ratio of 0.59.

Newmark Group (NASDAQ:NMRKGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. The business had revenue of $747.70 million for the quarter, compared to analyst estimates of $743.53 million. Newmark Group had a net margin of 1.72% and a return on equity of 17.03%. During the same quarter last year, the business posted $0.32 EPS. On average, analysts forecast that Newmark Group will post 1.1 earnings per share for the current year.

Institutional Trading of Newmark Group

A number of institutional investors have recently modified their holdings of NMRK. Vanguard Group Inc. grew its holdings in shares of Newmark Group by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 26,213,288 shares of the company’s stock valued at $417,315,000 after purchasing an additional 1,309,242 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Newmark Group by 0.5% during the 1st quarter. BlackRock Inc. now owns 11,063,026 shares of the company’s stock valued at $176,123,000 after purchasing an additional 50,137 shares during the last quarter. FMR LLC boosted its position in Newmark Group by 1.5% during the 1st quarter. FMR LLC now owns 4,738,989 shares of the company’s stock valued at $33,552,000 after buying an additional 70,314 shares during the period. Dimensional Fund Advisors LP boosted its position in Newmark Group by 16.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,675,895 shares of the company’s stock valued at $33,104,000 after buying an additional 668,808 shares during the period. Finally, State Street Corp boosted its position in Newmark Group by 1.0% during the 2nd quarter. State Street Corp now owns 3,301,776 shares of the company’s stock valued at $31,928,000 after buying an additional 32,090 shares during the period. 53.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NMRK has been the subject of several research reports. Keefe, Bruyette & Woods increased their price objective on shares of Newmark Group from $11.00 to $11.25 and gave the company a “market perform” rating in a research note on Monday, February 26th. Piper Sandler raised shares of Newmark Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $7.00 to $13.00 in a research note on Wednesday, December 20th.

Get Our Latest Research Report on Newmark Group

Newmark Group Company Profile

(Get Free Report)

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.

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Dividend History for Newmark Group (NASDAQ:NMRK)

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