Newmark Group (NMRK) Declares $0.03 Dividend
Newmark Group said on February 21, 2024 that its board of directors declared a regular quarterly dividend of $0.03 per share ($0.12 annualized). Previously, the company paid $0.03 per share.
Shares must be purchased before the ex-div date of March 7, 2024 to qualify for the dividend. Shareholders of record as of March 8, 2024 will receive the payment on March 22, 2024.
At the current share price of $10.29 / share, the stock's dividend yield is 1.17%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.95%, the lowest has been 0.22%, and the highest has been 12.82%. The standard deviation of yields is 2.12 (n=233).
The current dividend yield is 0.37 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.49. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is 2.00%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 446 funds or institutions reporting positions in Newmark Group. This is an increase of 15 owner(s) or 3.48% in the last quarter. Average portfolio weight of all funds dedicated to NMRK is 0.11%, an increase of 33.29%. Total shares owned by institutions increased in the last three months by 3.33% to 113,840K shares. 
The put/call ratio of NMRK is 0.10, indicating a bullish outlook.
Analyst Price Forecast Suggests 18.95% Upside
As of February 23, 2024, the average one-year price target for Newmark Group is 12.24. The forecasts range from a low of 11.11 to a high of $13.65. The average price target represents an increase of 18.95% from its latest reported closing price of 10.29.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Newmark Group is 2,995MM, an increase of 21.24%. The projected annual non-GAAP EPS is 1.71.
What are Other Shareholders Doing?
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 6,005K shares representing 3.48% ownership of the company. In it's prior filing, the firm reported owning 6,097K shares, representing a decrease of 1.53%. The firm decreased its portfolio allocation in NMRK by 4.16% over the last quarter.
Empyrean Capital Partners holds 4,360K shares representing 2.52% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,973K shares representing 2.30% ownership of the company. In it's prior filing, the firm reported owning 3,952K shares, representing an increase of 0.51%. The firm increased its portfolio allocation in NMRK by 7.85% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 3,523K shares representing 2.04% ownership of the company. In it's prior filing, the firm reported owning 3,560K shares, representing a decrease of 1.05%. The firm increased its portfolio allocation in NMRK by 7.26% over the last quarter.
River Road Asset Management holds 3,485K shares representing 2.02% ownership of the company. In it's prior filing, the firm reported owning 4,038K shares, representing a decrease of 15.89%. The firm increased its portfolio allocation in NMRK by 43.45% over the last quarter.
Newmark Group Background Information
(This description is provided by the company.)
Newmark Group, Inc., together with its subsidiaries ('Newmark'), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Its integrated platform seamlessly powers every phase of owning or occupying a property. its services is tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. n 2019, Newmark generated revenues in excess of $2.2 billion.
Additional reading:
- Select Balance Sheet Data (USD millions) December 31, 2023 December 31, 2022 Cash and cash equivalents $164.9 $233.0 Total corporate debt $547.3 $547.8 Total Equity $1,594.9 $1,541.4
- REGISTRATION RIGHTS AGREEMENT
- SECOND SUPPLEMENTAL INDENTURE Dated as of January 12, 2024 Supplementing that Certain Dated as of November 6, 2018 NEWMARK GROUP, INC., as Issuer REGIONS BANK, as Trustee 7.500% SENIOR NOTES DUE 2029
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