Intrinsic value of Newmark Group - NMRK

Previous Close

$9.41

  Intrinsic Value

$67.40

stock screener

  Rating & Target

str. buy

+616%

Previous close

$9.41

 
Intrinsic value

$67.40

 
Up/down potential

+616%

 
Rating

str. buy

We calculate the intrinsic value of NMRK stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  18.30
  16.97
  15.77
  14.70
  13.73
  12.85
  12.07
  11.36
  10.73
  10.15
  9.64
  9.17
  8.76
  8.38
  8.04
  7.74
  7.46
  7.22
  7.00
  6.80
  6.62
  6.46
  6.31
  6.18
  6.06
  5.95
  5.86
  5.77
  5.70
  5.63
Revenue, $m
  1,889
  2,209
  2,558
  2,933
  3,336
  3,765
  4,219
  4,699
  5,202
  5,731
  6,283
  6,859
  7,460
  8,085
  8,735
  9,411
  10,114
  10,844
  11,603
  12,391
  13,211
  14,064
  14,951
  15,875
  16,837
  17,840
  18,885
  19,975
  21,113
  22,301
Variable operating expenses, $m
  1,659
  1,925
  2,215
  2,527
  2,862
  3,218
  3,595
  3,994
  4,412
  4,851
  5,221
  5,700
  6,199
  6,718
  7,259
  7,820
  8,404
  9,011
  9,641
  10,296
  10,977
  11,686
  12,423
  13,191
  13,991
  14,824
  15,692
  16,598
  17,544
  18,531
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,659
  1,925
  2,215
  2,527
  2,862
  3,218
  3,595
  3,994
  4,412
  4,851
  5,221
  5,700
  6,199
  6,718
  7,259
  7,820
  8,404
  9,011
  9,641
  10,296
  10,977
  11,686
  12,423
  13,191
  13,991
  14,824
  15,692
  16,598
  17,544
  18,531
Operating income, $m
  230
  284
  343
  406
  475
  547
  624
  705
  790
  879
  1,062
  1,160
  1,261
  1,367
  1,477
  1,591
  1,710
  1,833
  1,962
  2,095
  2,234
  2,378
  2,528
  2,684
  2,847
  3,016
  3,193
  3,377
  3,570
  3,770
EBITDA, $m
  380
  444
  514
  590
  671
  757
  848
  945
  1,046
  1,152
  1,263
  1,379
  1,500
  1,626
  1,757
  1,893
  2,034
  2,181
  2,333
  2,492
  2,657
  2,828
  3,007
  3,192
  3,386
  3,587
  3,798
  4,017
  4,246
  4,485
Interest expense (income), $m
  12
  78
  96
  116
  138
  161
  186
  213
  241
  271
  303
  336
  370
  406
  443
  482
  523
  565
  609
  654
  702
  751
  802
  855
  910
  968
  1,028
  1,090
  1,156
  1,223
  1,294
Earnings before tax, $m
  152
  188
  227
  268
  313
  361
  411
  463
  519
  577
  727
  790
  855
  923
  994
  1,068
  1,145
  1,224
  1,307
  1,393
  1,483
  1,576
  1,673
  1,774
  1,879
  1,988
  2,102
  2,222
  2,346
  2,476
Tax expense, $m
  41
  51
  61
  72
  85
  97
  111
  125
  140
  156
  196
  213
  231
  249
  268
  288
  309
  331
  353
  376
  400
  425
  452
  479
  507
  537
  568
  600
  633
  669
Net income, $m
  111
  137
  165
  196
  229
  263
  300
  338
  379
  421
  530
  576
  624
  674
  726
  780
  836
  894
  954
  1,017
  1,082
  1,150
  1,221
  1,295
  1,371
  1,451
  1,535
  1,622
  1,713
  1,807

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,488
  2,911
  3,370
  3,865
  4,395
  4,960
  5,559
  6,190
  6,854
  7,550
  8,278
  9,037
  9,829
  10,652
  11,509
  12,400
  13,325
  14,287
  15,287
  16,326
  17,406
  18,529
  19,699
  20,916
  22,183
  23,504
  24,882
  26,318
  27,817
  29,382
Adjusted assets (=assets-cash), $m
  2,488
  2,911
  3,370
  3,865
  4,395
  4,960
  5,559
  6,190
  6,854
  7,550
  8,278
  9,037
  9,829
  10,652
  11,509
  12,400
  13,325
  14,287
  15,287
  16,326
  17,406
  18,529
  19,699
  20,916
  22,183
  23,504
  24,882
  26,318
  27,817
  29,382
Revenue / Adjusted assets
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
  0.759
Average production assets, $m
  568
  665
  770
  883
  1,004
  1,133
  1,270
  1,414
  1,566
  1,725
  1,891
  2,065
  2,245
  2,434
  2,629
  2,833
  3,044
  3,264
  3,492
  3,730
  3,977
  4,233
  4,500
  4,778
  5,068
  5,370
  5,684
  6,013
  6,355
  6,713
Working capital, $m
  -225
  -263
  -304
  -349
  -397
  -448
  -502
  -559
  -619
  -682
  -748
  -816
  -888
  -962
  -1,040
  -1,120
  -1,204
  -1,290
  -1,381
  -1,475
  -1,572
  -1,674
  -1,779
  -1,889
  -2,004
  -2,123
  -2,247
  -2,377
  -2,512
  -2,654
Total debt, $m
  1,782
  2,152
  2,554
  2,988
  3,453
  3,948
  4,472
  5,025
  5,607
  6,217
  6,854
  7,519
  8,212
  8,934
  9,684
  10,465
  11,275
  12,118
  12,994
  13,904
  14,850
  15,834
  16,859
  17,925
  19,035
  20,192
  21,399
  22,657
  23,970
  25,341
Total liabilities, $m
  2,180
  2,550
  2,952
  3,386
  3,850
  4,345
  4,870
  5,423
  6,004
  6,614
  7,251
  7,917
  8,610
  9,331
  10,082
  10,862
  11,673
  12,515
  13,391
  14,301
  15,248
  16,232
  17,256
  18,322
  19,433
  20,590
  21,796
  23,055
  24,368
  25,739
Total equity, $m
  309
  361
  418
  479
  545
  615
  689
  768
  850
  936
  1,026
  1,121
  1,219
  1,321
  1,427
  1,538
  1,652
  1,772
  1,896
  2,024
  2,158
  2,298
  2,443
  2,594
  2,751
  2,915
  3,085
  3,263
  3,449
  3,643
Total liabilities and equity, $m
  2,489
  2,911
  3,370
  3,865
  4,395
  4,960
  5,559
  6,191
  6,854
  7,550
  8,277
  9,038
  9,829
  10,652
  11,509
  12,400
  13,325
  14,287
  15,287
  16,325
  17,406
  18,530
  19,699
  20,916
  22,184
  23,505
  24,881
  26,318
  27,817
  29,382
Debt-to-equity ratio
  5.780
  5.960
  6.110
  6.240
  6.340
  6.420
  6.490
  6.550
  6.600
  6.640
  6.680
  6.710
  6.740
  6.760
  6.790
  6.810
  6.820
  6.840
  6.850
  6.870
  6.880
  6.890
  6.900
  6.910
  6.920
  6.930
  6.940
  6.940
  6.950
  6.960
Adjusted equity ratio
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124
  0.124

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  111
  137
  165
  196
  229
  263
  300
  338
  379
  421
  530
  576
  624
  674
  726
  780
  836
  894
  954
  1,017
  1,082
  1,150
  1,221
  1,295
  1,371
  1,451
  1,535
  1,622
  1,713
  1,807
Depreciation, amort., depletion, $m
  150
  160
  171
  183
  196
  210
  225
  240
  256
  273
  201
  220
  239
  259
  280
  301
  324
  347
  372
  397
  423
  450
  479
  508
  539
  571
  605
  640
  676
  714
Funds from operations, $m
  261
  297
  337
  379
  425
  473
  524
  578
  635
  694
  732
  796
  863
  933
  1,006
  1,081
  1,160
  1,241
  1,326
  1,414
  1,505
  1,601
  1,700
  1,803
  1,911
  2,023
  2,140
  2,261
  2,389
  2,522
Change in working capital, $m
  -35
  -38
  -41
  -45
  -48
  -51
  -54
  -57
  -60
  -63
  -66
  -69
  -71
  -74
  -77
  -80
  -84
  -87
  -90
  -94
  -98
  -101
  -106
  -110
  -114
  -119
  -124
  -130
  -135
  -141
Cash from operations, $m
  296
  335
  378
  424
  473
  524
  578
  635
  695
  757
  797
  865
  935
  1,007
  1,083
  1,162
  1,243
  1,328
  1,416
  1,508
  1,603
  1,702
  1,805
  1,913
  2,025
  2,142
  2,264
  2,391
  2,524
  2,663
Maintenance CAPEX, $m
  -51
  -60
  -71
  -82
  -94
  -107
  -121
  -135
  -150
  -167
  -184
  -201
  -220
  -239
  -259
  -280
  -301
  -324
  -347
  -372
  -397
  -423
  -450
  -479
  -508
  -539
  -571
  -605
  -640
  -676
New CAPEX, $m
  -88
  -96
  -105
  -113
  -121
  -129
  -137
  -144
  -152
  -159
  -166
  -173
  -181
  -188
  -196
  -203
  -211
  -220
  -228
  -237
  -247
  -257
  -267
  -278
  -290
  -302
  -315
  -328
  -342
  -358
Cash from investing activities, $m
  -139
  -156
  -176
  -195
  -215
  -236
  -258
  -279
  -302
  -326
  -350
  -374
  -401
  -427
  -455
  -483
  -512
  -544
  -575
  -609
  -644
  -680
  -717
  -757
  -798
  -841
  -886
  -933
  -982
  -1,034
Free cash flow, $m
  156
  178
  203
  229
  258
  288
  321
  356
  393
  431
  448
  490
  534
  580
  628
  678
  730
  784
  840
  899
  959
  1,022
  1,088
  1,156
  1,227
  1,301
  1,378
  1,458
  1,542
  1,629
Issuance/(repayment) of debt, $m
  339
  370
  402
  434
  465
  495
  524
  553
  582
  610
  637
  665
  693
  722
  750
  780
  811
  843
  876
  910
  946
  984
  1,024
  1,066
  1,110
  1,157
  1,206
  1,258
  1,313
  1,371
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  339
  370
  402
  434
  465
  495
  524
  553
  582
  610
  637
  665
  693
  722
  750
  780
  811
  843
  876
  910
  946
  984
  1,024
  1,066
  1,110
  1,157
  1,206
  1,258
  1,313
  1,371
Total cash flow (excl. dividends), $m
  495
  548
  605
  663
  722
  783
  846
  909
  974
  1,041
  1,085
  1,155
  1,227
  1,302
  1,379
  1,459
  1,541
  1,627
  1,716
  1,809
  1,906
  2,007
  2,112
  2,222
  2,338
  2,458
  2,584
  2,717
  2,855
  3,000
Retained Cash Flow (-), $m
  -48
  -52
  -57
  -61
  -66
  -70
  -74
  -78
  -82
  -86
  -90
  -94
  -98
  -102
  -106
  -110
  -115
  -119
  -124
  -129
  -134
  -139
  -145
  -151
  -157
  -164
  -171
  -178
  -186
  -194
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  447
  496
  548
  602
  657
  713
  771
  831
  892
  955
  995
  1,061
  1,129
  1,200
  1,273
  1,348
  1,426
  1,508
  1,592
  1,680
  1,772
  1,867
  1,967
  2,071
  2,180
  2,294
  2,414
  2,539
  2,669
  2,806
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  428
  454
  477
  495
  509
  518
  521
  519
  512
  500
  472
  453
  429
  403
  374
  343
  310
  278
  245
  213
  183
  155
  129
  106
  85
  67
  52
  39
  29
  21
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Newmark Group, Inc. is a commercial real estate services company. The Company is focused on offering products and services to both owners and occupiers across the entire commercial real estate industry. Its investor/owner services and products include capital markets, which consists of investment sales, debt and structured finance and loan sales, agency leasing, property management, valuation and advisory, diligence and underwriting and government-sponsored enterprise lending and loan servicing. Its occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management.

FINANCIAL RATIOS  of  Newmark Group (NMRK)

Valuation Ratios
P/E Ratio 8.5
Price to Sales 1.1
Price to Book 1.5
Price to Tangible Book
Price to Cash Flow -2.2
Price to Free Cash Flow -2.1
Growth Rates
Sales Growth Rate 12.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 66.7%
Cap. Spend. - 3 Yr. Gr. Rate NaN%
Financial Strength
Quick Ratio 0
Current Ratio 0.1
LT Debt to Equity 0%
Total Debt to Equity 26.3%
Interest Coverage 15
Management Effectiveness
Return On Assets 8.6%
Ret/ On Assets - 3 Yr. Avg. 2.9%
Return On Total Capital 14%
Ret/ On T. Cap. - 3 Yr. Avg. 4.5%
Return On Equity 18.9%
Return On Equity - 3 Yr. Avg. 6%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 98.7%
Gross Margin - 3 Yr. Avg. 65.7%
EBITDA Margin 18.9%
EBITDA Margin - 3 Yr. Avg. 8.3%
Operating Margin 11.3%
Oper. Margin - 3 Yr. Avg. 3.4%
Pre-Tax Margin 12.7%
Pre-Tax Margin - 3 Yr. Avg. 4%
Net Profit Margin 12.4%
Net Profit Margin - 3 Yr. Avg. 4.1%
Effective Tax Rate 2.3%
Eff/ Tax Rate - 3 Yr. Avg. 23%
Payout Ratio 0%

NMRK stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the NMRK stock intrinsic value calculation we used $1596.45 million for the last fiscal year's total revenue generated by Newmark Group. The default revenue input number comes from 0001 income statement of Newmark Group. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our NMRK stock valuation model: a) initial revenue growth rate of 18.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for NMRK is calculated based on our internal credit rating of Newmark Group, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Newmark Group.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of NMRK stock the variable cost ratio is equal to 88.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for NMRK stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Newmark Group.

Corporate tax rate of 27% is the nominal tax rate for Newmark Group. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the NMRK stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for NMRK are equal to 30.1%.

Life of production assets of 9.4 years is the average useful life of capital assets used in Newmark Group operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for NMRK is equal to -11.9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $260.41 million for Newmark Group - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 138.922 million for Newmark Group is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Newmark Group at the current share price and the inputted number of shares is $1.3 billion.

COMPANY NEWS

▶ D.C.'s commercial real estate prognosticator hanging up his spurs   [12:24PM  American City Business Journals]
▶ NKF hires Broker of the Year Thad Mallory from Kidder Mathews   [Nov-14-18 05:56PM  American City Business Journals]
▶ BGC Partners Announces Spin-Off of Newmark   [Nov-13-18 08:30AM  PR Newswire]
▶ Newmark Group Announces Closing Of Senior Notes Offering   [Nov-06-18 04:30PM  PR Newswire]
▶ Newmark Group Announces Pricing Of Senior Notes   [Nov-02-18 06:00AM  PR Newswire]
▶ Newmark Group: 3Q Earnings Snapshot   [Oct-25-18 10:50AM  Associated Press]
▶ Newmarks Recent Acquisition Comes With Fewer Brokers   [Sep-11-18 07:47PM  The Wall Street Journal]
▶ Newmark's Recent Acquisition Comes With Fewer Brokers   [07:00AM  The Wall Street Journal]
▶ 9 Small-Cap Stocks to Sell Before Its Too Late   [Sep-10-18 03:00PM  InvestorPlace]
▶ Newmark Group: 2Q Earnings Snapshot   [10:49AM  Associated Press]
▶ Newmark Knight Frank scoops up 2 more realty offices, including one in Denver   [Jul-18-18 03:48PM  American City Business Journals]
▶ Chicago investor picks up once-troubled East Bay shopping center for $85.75 million   [Jul-10-18 05:23PM  American City Business Journals]
▶ Texas commercial brokerage acquired by New York real estate advisory firm   [Jul-02-18 08:00AM  American City Business Journals]
▶ Dallas commercial brokerage acquired by New York real estate advisory firm   [Jun-29-18 02:02PM  American City Business Journals]
▶ Exclusive: New leader takes over at one of D.C.'s top CRE shops   [Jun-19-18 04:10PM  American City Business Journals]
▶ [$$] Newmark Raids Eastdil Secured for Hotel Sales Team   [May-16-18 10:55AM  The Wall Street Journal]
▶ [$$] Newmark Raids Eastdil Secured for Hotel Sales Team   [May-15-18 11:23AM  The Wall Street Journal]
▶ Newmark Group: 1Q Earnings Snapshot   [May-03-18 09:42AM  Associated Press]
▶ Are Newmark Group Incs (NASDAQ:NMRK) Interest Costs Too High?   [Apr-11-18 08:07PM  Simply Wall St.]
▶ Pittsburgh office of Integra Realty Resources acquired   [12:42PM  American City Business Journals]

CONTACT US       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.