Teacher Retirement System of Texas Decreases Stake in Newmark Group, Inc. (NASDAQ:NMRK)

Teacher Retirement System of Texas decreased its holdings in shares of Newmark Group, Inc. (NASDAQ:NMRK) by 90.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,896 shares of the company’s stock after selling 177,522 shares during the quarter. Teacher Retirement System of Texas’ holdings in Newmark Group were worth $229,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in Newmark Group by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,152,232 shares of the company’s stock valued at $33,424,000 after acquiring an additional 85,728 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Newmark Group by 6.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 76,602 shares of the company’s stock worth $1,190,000 after purchasing an additional 4,834 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of Newmark Group in the third quarter valued at approximately $835,000. Edgestream Partners L.P. acquired a new stake in shares of Newmark Group in the third quarter valued at approximately $1,470,000. Finally, ClearAlpha Technologies LP purchased a new position in Newmark Group during the third quarter worth approximately $253,000. 58.42% of the stock is currently owned by institutional investors and hedge funds.

Newmark Group Stock Down 0.5 %

NMRK stock opened at $12.11 on Wednesday. The firm has a market cap of $2.19 billion, a PE ratio of 34.60 and a beta of 1.96. Newmark Group, Inc. has a one year low of $9.44 and a one year high of $16.10. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.42 and a current ratio of 0.42. The firm’s 50 day moving average price is $13.50 and its 200-day moving average price is $14.15.

Newmark Group (NASDAQ:NMRK) last announced its quarterly earnings results on Friday, February 14th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.48 by $0.07. The business had revenue of $888.30 million for the quarter, compared to analyst estimates of $790.76 million. Newmark Group had a return on equity of 20.74% and a net margin of 2.22%. The company’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 EPS. On average, equities research analysts anticipate that Newmark Group, Inc. will post 1.45 EPS for the current year.

Newmark Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Monday, March 3rd. Newmark Group’s dividend payout ratio (DPR) is 34.29%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group dropped their target price on Newmark Group from $19.50 to $17.00 and set a “buy” rating for the company in a report on Wednesday, March 19th.

Newmark Group Profile

Newmark Group, Inc provides commercial real estate services in the United States, the United Kingdom, and internationally. The company offers capital markets consisting of investment sales and commercial mortgage brokerage; landlord or agency representation leasing; valuation and advisory; property management; commercial real estate technology platform and capabilities; the United Kingdom business rates services; due diligence, consulting, and other advisory services; GSEs and the Federal Housing Administration lending services comprising multifamily lending and loan servicing; asset management; and flexible workspace solutions for owners.