|Over a month ago|
Newmark secures $56M loan for 26-property, 9-state parking facility portfolio » 10:0306/2306/23/21
Newmark, on behalf of…
Newmark, on behalf of InterPark Holdings, announces the placement of a $565M, five-year loan secured by a portfolio of 26 cross-collateralized parking facilities located in nine U.S. cities, including Chicago, Philadelphia, St. Louis and Boston. Executive Managing Director Joel Simmons of Newmark's Debt and Structured Finance Group arranged the financing. "InterPark's quality portfolio of parking properties, customer-friendly touchless access and payment mobility systems position the company well for a robust recovery from the effects of the pandemic," said Marshall Peck, CEO of InterPark.
Newmark initiated with an Outperform at Wolfe Research » 16:5006/1406/14/21
Wolfe Research analyst…
Wolfe Research analyst Andrew Rosivach initiated coverage of Newmark with an Outperform rating and $22 price target. The analyst says the company is a "deeply discounted means" to participate in the brokerage sector, an industry with "significant upside in a recovery market."
Newmark directs sale of office complex in NJ for $88M » 18:0605/2405/24/21
The company states:…
The company states: "KBS announced the sale of Woodbridge Corporate Plaza, a six-building Class A office complex in Iselin, New Jersey. The property was sold to Ramapo, New York based Northeast Capital Group for $88 million. Newmark, a global commercial real estate services firm, directed the sale on behalf of KBS."
Newmark appoints Sridhar Potineni as CIO » 11:0905/1905/19/21
Newmark announces that…
Newmark announces that Sridhar Potineni has joined thecCompany as chief information officer. In his role, Potineni will be responsible for leading Newmark's information technology platforms and driving digital transformation, further advancing Newmark's platform of innovative solutions supporting its clients throughout the world. Prior to joining Newmark, Potineni served as Global CTO of JLL's Capital Markets group.
Newmark management to meet virtually with Piper Sandler » 10:3305/1805/18/21
Virtual Meeting to be…
Virtual Meeting to be held on May 18 hosted by Piper Sandler.
Newmark raises 2021 revenue growth to 20%-25% from double-digit growth » 08:2505/0605/06/21
Consensus for 2021…
Consensus for 2021 revenue is $2.07B.
Newmark sees Q2 revenue growth 37%-42%, consensus $459.45M » 08:2405/0605/06/21
Expects stable Adjusted…
Expects stable Adjusted EBITDA margins in Q2 relative to Q1.
Newmark reports Q1 adjusted EPS 20c, consensus 12c » 08:2205/0605/06/21
Reports Q1 revenue…
Reports Q1 revenue $504.0M, consensus $407.37M. CEO Barry Gosin commented: "We generated record first quarter revenues and Adjusted EBITDA despite lower industry volumes, reflecting the value of our preeminent, full service platform and the strategic investments we made before the onset of the global pandemic. As the recovery gains momentum, Newmark remains committed to executing our strategy of providing superior client service from the best advisors in the industry. In March, Newmark acquired the business of Knotel, a leading global provider of flexible office solutions. We are excited about this addition to the platform and the benefits to our clients."
|Over a quarter ago|
Newmark double-upgraded to Buy from Underperform at BofA » 06:4302/2502/25/21
BofA analyst Michael Funk…
BofA analyst Michael Funk double-upgraded Newmark to Buy from Underperform with a $20 price target. The analyst is citing the company's outperformance relative to expectations, capital markets strength, potential for a snap back recovery in leasing, and a potential returns to shareholders.
Newmark upgraded to Overweight from Neutral at Piper Sandler » 06:0902/1902/19/21
Piper Sandler analyst…
Piper Sandler analyst Alexander Goldfarb upgraded Newmark to Overweight from Neutral with a price target of $12, up from $7.50. Management "finally takes refinement initiatives to the next level" to align top-line and bottom-line growth by streamlining the organization and implementing an achievable stock buyback program, Goldfarb tells investors in a research note. With Newmark now free of its two-year tax-free spin window, there is "newfound flexibility" regarding stock buybacks, says the analyst.