Geode Capital Management LLC Boosts Position in Walker & Dunlop, Inc. (NYSE:WD)
Geode Capital Management LLC increased its stake in shares of Walker & Dunlop, Inc. (NYSE:WD) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 438,915 shares of the financial services provider’s stock after purchasing an additional 25,524 shares during the quarter. Geode Capital Management LLC’s holdings in Walker & Dunlop were worth $18,982,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in Walker & Dunlop in the fourth quarter valued at approximately $19,215,000. Nordea Investment Management AB lifted its stake in Walker & Dunlop by 0.9% in the fourth quarter. Nordea Investment Management AB now owns 45,400 shares of the financial services provider’s stock valued at $1,963,000 after acquiring an additional 400 shares during the last quarter. APG Asset Management N.V. lifted its stake in Walker & Dunlop by 15.6% in the fourth quarter. APG Asset Management N.V. now owns 584,500 shares of the financial services provider’s stock valued at $22,114,000 after acquiring an additional 78,700 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Walker & Dunlop by 3.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 8,832 shares of the financial services provider’s stock valued at $382,000 after acquiring an additional 257 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Walker & Dunlop by 213.1% in the fourth quarter. Millennium Management LLC now owns 74,341 shares of the financial services provider’s stock valued at $3,215,000 after acquiring an additional 50,596 shares during the last quarter. Institutional investors and hedge funds own 77.70% of the company’s stock.
In other news, EVP Richard C. Warner sold 8,800 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $52.22, for a total value of $459,536.00. Following the sale, the executive vice president now owns 60,600 shares in the company, valued at approximately $3,164,532. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Howard W. Smith III sold 25,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $51.28, for a total transaction of $1,282,000.00. Following the completion of the sale, the president now owns 106,851 shares in the company, valued at approximately $5,479,319.28. The disclosure for this sale can be found here. Insiders sold a total of 118,776 shares of company stock worth $6,216,386 in the last three months. Insiders own 10.37% of the company’s stock.
Walker & Dunlop (NYSE:WD) last announced its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.34. The firm had revenue of $187.44 million for the quarter, compared to analyst estimates of $161.10 million. Walker & Dunlop had a net margin of 22.05% and a return on equity of 18.67%. The business’s revenue for the quarter was up 27.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 EPS. Analysts expect that Walker & Dunlop, Inc. will post 5.48 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Friday, May 17th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, May 16th. Walker & Dunlop’s dividend payout ratio (DPR) is presently 23.81%.
A number of analysts have recently weighed in on the stock. JMP Securities boosted their price objective on shares of Walker & Dunlop from $60.00 to $65.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 21st. ValuEngine upgraded shares of Walker & Dunlop from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Zacks Investment Research cut shares of Walker & Dunlop from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 18th. Finally, BTIG Research began coverage on shares of Walker & Dunlop in a research report on Wednesday, March 13th. They set a “buy” rating and a $70.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $63.20.
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About Walker & Dunlop
Walker & Dunlop, Inc, through its subsidiaries, originates, sells, and services a range of multifamily and other commercial real estate loans for owners and developers of real estate in the United States. The company offers multifamily properties and commercial real estate finance products, such as first mortgage, second trust, supplemental, construction, mezzanine, preferred equity, small-balance, and bridge/interim loans.
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