Walker & Dunlop (NYSE:WD) Hits New 12-Month High After Dividend Announcement

Walker & Dunlop, Inc. (NYSE:WD) shares reached a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $118.19 and last traded at $116.84, with a volume of 4900 shares changing hands. The stock had previously closed at $110.89.

The newly announced dividend which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, November 22nd. Walker & Dunlop’s dividend payout ratio is presently 100.39%.

Analyst Upgrades and Downgrades

WD has been the subject of a number of research reports. StockNews.com raised shares of Walker & Dunlop from a “sell” rating to a “hold” rating in a report on Sunday, August 11th. Keefe, Bruyette & Woods upped their price target on Walker & Dunlop from $105.00 to $112.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Wolfe Research upgraded Walker & Dunlop to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Wedbush upped their target price on shares of Walker & Dunlop from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th.

Walker & Dunlop Stock Performance

The company has a 50-day moving average price of $110.18 and a 200-day moving average price of $102.83. The firm has a market capitalization of $3.77 billion, a P/E ratio of 43.38 and a beta of 1.55.

Walker & Dunlop (NYSE:WD) last issued its earnings results on Thursday, November 7th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.10). The company had revenue of $292.30 million for the quarter, compared to the consensus estimate of $294.24 million. Walker & Dunlop had a return on equity of 9.65% and a net margin of 8.41%. Walker & Dunlop’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $1.11 EPS. Equities analysts predict that Walker & Dunlop, Inc. will post 5.32 EPS for the current year.

Insider Buying and Selling

In other news, COO Stephen P. Theobald sold 13,870 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $106.10, for a total value of $1,471,607.00. Following the completion of the transaction, the chief operating officer now owns 53,869 shares of the company’s stock, valued at $5,715,500.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.47% of the stock is owned by insiders.

Hedge Funds Weigh In On Walker & Dunlop

Institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. lifted its holdings in shares of Walker & Dunlop by 33.1% in the third quarter. Victory Capital Management Inc. now owns 1,415,479 shares of the financial services provider’s stock valued at $160,784,000 after purchasing an additional 351,957 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Walker & Dunlop by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,319,434 shares of the financial services provider’s stock worth $129,566,000 after acquiring an additional 20,739 shares during the last quarter. Impactive Capital LP grew its stake in shares of Walker & Dunlop by 242.0% during the 1st quarter. Impactive Capital LP now owns 1,034,093 shares of the financial services provider’s stock worth $104,505,000 after acquiring an additional 731,714 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Walker & Dunlop by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 377,417 shares of the financial services provider’s stock valued at $37,062,000 after purchasing an additional 2,815 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Walker & Dunlop by 10.1% in the second quarter. American Century Companies Inc. now owns 351,022 shares of the financial services provider’s stock worth $34,470,000 after purchasing an additional 32,192 shares in the last quarter. 80.97% of the stock is currently owned by institutional investors and hedge funds.

About Walker & Dunlop

Walker & Dunlop, Inc, through its subsidiaries, originates, sells, and services a range of multifamily and other commercial real estate financing products and services for owners and developers of real estate in the United States. It operates through three segments: Capital Markets, Servicing & Asset Management, and Corporate.