Thu, May 5, 9:58 AM
- A weak commercial property market took a bite out of Walker & Dunlop's (NYSE:WD) Q1 results reported yesterday morning.
- The stock tumbled big-time out of the gates, but managed to recover much of that opening loss by the end of the session. It's higher by another 5.4% in early action today after JMP Securities upgrades to Outperform from Market Perform. The $25 price target is 15% upside from yesterday's close.
- Prior to yesterday's weak earnings result, WD had already dipped 24% YTD. We seem to recall learning something in school about markets being discounting mechanisms.
Tue, Feb. 16, 10:32 AM
- The near-30% decline this year on CMBS concern is unwarranted, says analyst Cheryl Pate, upgrading to Overweight with $31 price target (50% upside).
- CMBS, she says, comprises just 1% of company volume, and the company is poised for strong EPS growth thanks to its strong GSE share (roughly 11-12% last year) in its core multifamily business, diversification (services), and a $75M buyback.
- WD +3.7% to $21.15.
Nov. 4, 2015, 9:59 AM
- Q3 net income of $20.3M or $0.66 per share vs. $15.1M and $0.47 one year ago. Adjusted EBITDA of $31M up 50% Y/Y.
- Total transaction volume for the quarter rises 58% to $4.9B, an all-time high.
- Loan origination volume of $4.1B up 32% Y/Y. Investment sales volume of $824.7M in its first full quarter on the company platform.
- Servicing portfolio of $47.8B up 16% Y/Y. Servicing fees of $29.3M up 17%.
- Previously: Walker & Dunlop beats by $0.20, beats on revenue (Nov. 4)
- WD +4.85%
Sep. 21, 2015, 12:17 PM
- Since the Q2 earnings call at which it guided for Fannie Mae loan originations of $600M-$800M and Freddie Mac of $1B-$1.2B, loan volumes have increased significantly, and the company now sees Fannie Mae volume of $1.1B-$1.3B and Freddie Mac to come in at the high end of earlier $1B-$1.2B range.
- WD +3.4%
Aug. 5, 2015, 8:22 AM
- Q2 net income of $20.2M or $0.67 per share vs. $12.9M and $0.40 one year ago. Adjusted EBITDA of $28.9M vs. $20.9M.
- Loan origination volume of $3.5B up 45% Y/Y, and includes a 44% increase in lending with the GSEs.
- Mortgage banking gain of $70M up 34%. Servicing fees of $28.1M up 17% (portfolio of $47.7B up 20%). Net warehouse interest income of $6.6M up 70%. Other revenues of $8.1M up 100% (fees from investment sales and prepayment fees).
- Total expenses of $81.3M up 26% Y/Y, with personnel expense of $46M up 35%; as a percent of revenue unchanged at 40%.
- Conference call at 8:30 ET
- Previously: Walker & Dunlop beats by $0.15, beats on revenue (Aug. 5)
- WD +5.4% premarket in very thin trade.
Jul. 16, 2015, 10:23 AM| Jul. 16, 2015, 10:23 AM
May 6, 2015, 12:45 PM
May 6, 2015, 7:49 AM
- Q1 net income of $21.3M or $0.66 per share vs. $7.1M and $0.21 one year ago. Adjusted EBITDA of $35.4M up from $19.8M.
- Loan origination volume of $4.3B up 175%.
- "The wave has hit," says CEO Willy Walker, noting the company has been ramping up acquisitions of businesses and talent in anticipation of a commercial refinancing wave over the next few years.
- Servicing portfolio of $46.1B up 18% Y/Y. Servicing fees of $26.8M up 15%.
- Conference call at 8:30
- Previously: Walker & Dunlop beats by $0.32, beats on revenue (May 6)
- WD +7.2% premarket
Apr. 23, 2015, 10:46 PM
- Dunkin' Brands (NASDAQ:DNKN) will replace Riverbed Technology (set to be acquired) in the S&P MidCap 400 after Monday's close. Walker & Dunlop (NYSE:WD) will replace Entropic Communications (also set to be acquired) in the S&P SmallCap 600 after the April 30 close.
- Dunkin' rose to $52.71 in AH trading, after rising 7.9% in regular trading in response to its Q1 beat and guidance hike. Walker & Dunlop rose to $19.34.
Mar. 17, 2015, 8:52 AM
- The price is undisclosed, but Fortress Investment Group unloaded the rest of its stake in Walker & Dunlop (NYSE:WD) with a 8.25M share secondary offering and 3M shares sold directly to WD.
- The stock's lower by 1.6% premarket to $16.41.
- Previously: Walker & Dunlop -2% as Fortress Investment sells rest of stake (March 16)
Mar. 16, 2015, 4:23 PM
- Walker & Dunlop (NYSE:WD) announces a secondary offering of 8.25M shares held by funds managed by affiliates of Fortress Investment Group (NYSE:FIG). WD will not receive any proceeds from the sale.
- Fortress is selling another 3M shares to be purchased directly by Walker & Dunlop at the same price as the secondary offering price.
- At the completion of these deals, Fortress will no longer hold any stock in WD.
- Shares -2% after hours
Nov. 20, 2014, 11:19 AM
- Walker & Dunlop (WD -7.2%) priced a public offering a 2M shares for Fortress Investment at $15.50 each. The underwriter greenshoe is for another 300K shares at that price.
- Today's decline brings the stock to $15.15.
Nov. 20, 2014, 9:15 AM
Aug. 6, 2014, 10:39 AM
- Adjusted net income of $12.9M or $0.40 per share vs. $15.3M and $0.44 one year ago. Adjusted EBITDA of $20.9M vs. $14M.
- Loan originations of $2.4B in Q2 off 7% Y/Y, but CEL Willy Walker notes the commercial loan refinancing market is down 23% and the GSEs' origination volume YTD is down 48%. Loan originations with Frannie up 12% and comprise 65% of all action in Q2.
- Total revenue of $85.3M of 6% Y/Y, with a 17% decline in mortgage banking gains, partially offset by a big boost in net interest income from loans on the balance sheet. Servicing fees of $24M made up 28% of total revenue.
- Gains from mortgage banking of $52.2 down from $63.1M a year ago. Loan origination fees of $29.5M down 15%. Gains from MSRs or $22.8M down 20%.
- WD -2.1%
- Previously: Walker & Dunlop misses by $0.03, misses on revenue
Mar. 17, 2014, 11:29 AM
- Walker & Dunlop (WD +7.2%) late Friday agreed to repurchase all 2.45M shares of its common stock held by Column Guarantee (an affiliate of Credit Suisse) for a negotiated price of $14.50 each. The stock closed Friday at $15.45. Today's gain brings it to $16.65.
- The total float on the stock is 34M shares.
Oct. 1, 2013, 12:47 PM
Walker & Dunlop, Inc. through its subsidiary, Walker & Dunlop LLC provides commercial real estate financial services in the United States, with a primary focus on multifamily lending. The company originates, sells, and services a range of multifamily and other commercial real estate finance... More
Industry: Property Management
Country: United States
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