|Over a month ago|
Walker & Dunlop acquires TapCap, terms undisclosed » 06:3206/2506/25/21
Walker & Dunlop…
Walker & Dunlop announced that it acquired TapCap, a technology firm with proprietary web-based software that provides real-time, online quotes for commercial real estate debt to streamline the loan application and origination process. TapCap's technology is designed to remove friction from the borrower experience. Zac Rosenberg, founder and CEO of TapCap, will join Walker & Dunlop as a leader in their technology group.
Walker & Dunlop initiated with an Outperform at Wolfe Research » 16:4506/1406/14/21
Wolfe Research analyst…
Wolfe Research analyst Andrew Rosivach initiated coverage of Walker & Dunlop with an Outperform rating and $147 price target. The analyst believes the company will continue to produce its "impressive track record" of double-digit earnings growth, similar to that of brokers and above that of real estate investment trusts.
Walker & Dunlop structures $55.68M in financing for three nursing facilities » 06:3705/1305/13/21
Walker & Dunlop…
Walker & Dunlop announced that it structured $55.68M in financing for three skilled nursing facilities in the Chicago, Illinois area.
Walker & Dunlop announces John Ducey as affordable chief production officer » 06:5205/1105/11/21
Walker & Dunlop…
Walker & Dunlop announced that it has hired John Ducey as affordable chief production officer. Ducey will lead Walker & Dunlop's affordable housing financing efforts across all capital sources, including Fannie Mae, Freddie Mac, and private capital providers as the company seeks to expand its affordable lending footprint across the United States. Prior to joining Walker & Dunlop, Ducey served as director of multifamily LIHTC equity investments at Fannie Mae, where he was responsible for investing LIHTC equity and managing the relationships with eight LIHTC Syndicators.
Walker & Dunlop price target raised to $130 from $70 at JMP Securities » 06:2105/0605/06/21
WD, JPM, WFC
JMP Securities analyst…
JMP Securities analyst Steven Delaney raised the firm's price target on Walker & Dunlop (WD) to $130 from $70 and keeps an Outperform rating on the shares ahead of its Q1 results today. The company's growth across business lines is continuing at a "staggering pace" with plenty of room left, the analyst tells investors in a research note. Delaney further cites Walker & Dunlop passing JPMorgan (JPM) and Wells Fargo (WFC) to become the largest multifamily lender in the U.S. in 2020.
Walker & Dunlop reports Q1 EPS $1.79, consensus $1.94 » 06:0805/0605/06/21
Reports Q1 revenue…
Reports Q1 revenue $224.29M, consensus $246.03M. First quarter total transaction volume of $9B was down 20% from Q1 of 2020, predominantly due to lower multifamily financing volumes after originating the largest deal in Walker & Dunlop's history in the first quarter of 2020. Willy Walker, chairman and CEO, commented, "Walker & Dunlop is today the largest provider of capital to the multifamily industry and the fourth largest lender on commercial real estate in the United States thanks to our investments in people, brand, and technology. $9 billion of total transaction volume and $224 million in revenues during Q1 2021 resulted in diluted earnings per share of $1.79, which includes a $0.25 benefit from a reduction in our allowance for credit losses that we do not consider to be core or recurring profit. W&D's proprietary, actionable technology platform continued to expand our client base during the quarter, with 79% of the loans we refinanced during the quarter new loans to Walker & Dunlop, and 27% of our total transaction volume from new clients to Walker & Dunlop. With the economy reopening, we are seeing a dramatic upswing in activity across all our lending and brokerage products."
Walker & Dunlop to acquire Zelman & Associates, terms undisclosed » 06:5005/0505/05/21
Walker & Dunlop…
Walker & Dunlop announced that it has entered into an agreement to acquire a controlling interest in Zelman & Associates, a housing research and investment banking firm in the United States. Founded in 2007 by Ivy Zelman and Dennis McGill, Zelman also operates an investment bank, led by Tony McGill, focused exclusively on the housing sector. The Zelman team has experience in the M&A, debt and equity transaction markets, including private debt and equity placements, IPOs and secondary equity offerings, public debt underwritings, project and platform-specific capital raises, corporate valuations and buy and sell-side M&A advisory services. Completion of the transaction is subject to customary consents and regulatory approvals and is expected to close during Q3.
|Over a quarter ago|
Fly Intel: Top five weekend stock stories » 20:0103/1403/14/21
AZN, LLY, GME, AMC, VIAC, JOAN, CNK, MAT, BNED, PBI, FOSL, HRB, WW, DIS, WD, CPNG, HGV, TNL, VAC
Catch up on the…
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. AstraZeneca (AZN) said in a statement that, "Following a recent concern raised around thrombotic events, AstraZeneca would like to offer its reassurance on the safety of its COVID-19 vaccine based on clear scientific evidence... A careful review of all available safety data of more than 17 million people vaccinated in the European Union and UK with COVID-19 Vaccine AstraZeneca has shown no evidence of an increased risk of pulmonary embolism, deep vein thrombosis or thrombocytopenia, in any defined age group, gender, batch or in any particular country." 2. Eli Lilly (LLY) announced that Phase 2 TRAILBLAZER-ALZ results presented at the International Conference on Alzheimer's & Parkinson Diseases and published simultaneously in the New England Journal of Medicine expand on previously reported top-line data that found donanemab met its primary endpoint and showed slowing of decline on the integrated Alzheimer's Disease Rating Scale, a composite measure of cognition and daily function, in patients with early symptomatic Alzheimer's disease compared to placebo. Additionally, data from secondary analyses showed donanemab consistently slowed cognitive and functional decline, with ranges between 20%-40% in all secondary endpoints with nominal statistical significance at multiple times compared to placebo, Lilly said in a statement. Further, prespecified exploratory analyses showed donanemab slowed the accumulation of tau across key brain regions in patients affected by Alzheimer's disease, it added. Specifically, at 76 weeks compared to baseline, treatment with donanemab slowed decline by 32% compared to placebo as measured by the iADRS, which was statistically significant. As early as nine months after initiation of treatment, a significant difference in decline by iADRS was observed, Lilly said. In addition, 40% of participants treated with donanemab achieved amyloid negativity as early as six months after starting treatment and 68% achieved this target by 18 months. 3. This past week, GameStop (GME) soared 9% after the naming of Ryan Cohen to a board committee dedicated to the company's transformation, Alex Eule wrote in this week's edition of Barron's. But at its core, the GameStop phenomenon feels like a rush of nostalgia, the author contended, adding that it is a vote for bricks and mortar over e-commerce, and physical over digital, and the nostalgic sentiment goes deeper than GameStop and fellow meme stock AMC (AMC). The best performing stock in the S&P 500 index in 2021 is ViacomCBS (VIAC). Sticking with the old media theme, there's also Gannett (GCI), whose shares are up 69% this year, Eule noted. Meanwhile, Deluxe (DLX) stock is up 42% in 2021, while Joann (JOAN) returned to the market for the first time in a decade. In addition to these, the author also highlighted Cinemark (CNK), Mattel (MAT), Barnes & Noble (BNED), Pitney Bowes (PBI), Fossil Group (FOSL), H&R Block (HRB) and WW International (WW). 4. Disney's (DIS) "Raya and the Last Dragon" stayed atop the domestic box office chart with $55M in its second weekend, falling only 35% with about half of indoor theaters in North American now open. The movie sports an A CinemaScore. Overseas, "Raya and the Last Dragon" earned another $11.5M from 32 markets for a global total of $52.6M. 5. Walker & Dunlop (WD), Coupang (CPNG), Hilton Grand Vacations (HGV), Travel + Leisure (TNL) and Marriott Vacations Worldwide (VAC) saw positive mentions in this week's edition of Barron's.
Walker & Dunlop stock cheap, plenty of room to grow, Barron's says » 08:3503/1303/13/21
Trends in the residential…
Trends in the residential mortgage market look troubling, with rising interest rates stoking fears that lending activity will slow, hitting the refinancing business particular hard, Daren Fonda writes in this week's edition of Barron's. Yet another side of the mortgage market - commercial loans for the acquisition and refinancing of apartment buildings appears to be on the upswing, the author notes. A rising star in financing the multifamily market is Walker & Dunlop, Fonda contends. Reference Link
Wolfe Research to hold a virtual forum » 10:2603/0903/09/21
FOUR, FISV, JPM, MA, RPAY, DFS, FIS, PYPL, SQ, JKHY, SY, PAYX, WD
Wolfe Virtual FinTech…
Wolfe Virtual FinTech Forum 2021 will be held on March 9-11. Webcast Link