Walker & Dunlop (WD) reported $274.34 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 3%. EPS of $1.42 for the same period compares to $1.41 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $265.47 million, representing a surprise of +3.34%. The company delivered an EPS surprise of +35.24%, with the consensus EPS estimate being $1.05.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wal ...

BETHESDA, Md.--(BUSINESS WIRE)--Walker & Dunlop, Inc. recently welcomed three CBRE veterans – Managing Directors, Steve LaMotte Jr. and Dane Wilson, as well as Associate Director Ross Wettersten to its Midwest Investment Sales team led by Todd Stofflet. The team will represent both institutional and private clients across the Midwestern markets, specializing in the valuation and disposition of multifamily properties. " In today's dynamic market landscape, clients seek honest strategic advice, meticulous in ...

BETHESDA, Md.--(BUSINESS WIRE)--Walker & Dunlop, Inc. (NYSE: WD) (the “Company,” “Walker & Dunlop,” or “W&D”) reported its strongest quarterly results of 2023 in the fourth quarter. Total revenues were $274.3 million in the fourth quarter, a decrease of 3% year over year. Fourth quarter total transaction volume was $9.3 billion, down 17% year over year. Net income for the fourth quarter of 2023 was $31.6 million, or $0.93 per diluted share, down 24% and 25%, respectively, year over year. Adjusted EBITDA was ...

BETHESDA, Md.--(BUSINESS WIRE)--Walker & Dunlop, Inc. has funded a new $380,000,000 credit facility for the refinance of 11 student housing properties on behalf of Scion Student Communities ("SSC"), a joint venture among The Scion Group LLC ("Scion"), General Investment Corporation of Singapore ("GIC") and Canada Pension Plan Investment Board ("CPPIB"). The Scion Group is the largest owner/operator of off-campus student housing communities globally, with over 80,000 beds in its portfolio. This latest financ ...

BETHESDA, Md.--(BUSINESS WIRE)--Walker & Dunlop Investors Partners (“WDIP”) announced that it has closed its latest fund, part of a planned series of funds focused on multifamily bridge financing. The WDIP team, led by Geoff Smith, Marcus Duley, and Mitch Resnick, will originate value-add multifamily bridge loans with a targeted Agency exit. The fund has $157,500,000 of equity commitments and intends to utilize leverage to support between $450 million and $600 million in lending capacity. The fund’s core s ...

BETHESDA, Md.--(BUSINESS WIRE)--Walker & Dunlop, Inc. (NYSE: WD) was recognized as the largest Fannie Mae DUS® lender by volume in 2023, making it Fannie Mae’s #1 partner, five years in a row. In addition to being Fannie Mae’s largest multifamily lending partner by volume at $6.6 billion, Walker & Dunlop was also recognized by Fannie Mae as: #1 Producer for Green Financing #1 Producer for Student Housing #3 Producer for Multifamily Affordable Housing #3 Producer for Small Loans #4 Producer for Str ...

BETHESDA, Md.--(BUSINESS WIRE)--Walker & Dunlop, Inc. announced today that it will release its fourth quarter and full-year 2023 results before the market opens on February 15, 2024. The Company will host a conference call to discuss the quarterly results on February 15, 2024, at 8:00 a.m. Eastern time. Listeners can access the call by dialing (888) 256-1007 from within the United States or (773) 305-6853 from outside the United States and are asked to reference the Confirmation Code: 8217003. A simultaneo ...

One stock that might be an intriguing choice for investors right now is Walker & Dunlop, Inc. (WD) . This is because this security in the Financial - Mortgage & Related Services space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably tak ...

BETHESDA, Md.--(BUSINESS WIRE)--Walker & Dunlop, Inc. announced today that it has expanded its Carolinas Investment Sales team with the addition of Managing Director Michael Saclarides. He will be focused on Walker & Dunlop's multifamily institutional brokerage activities in Charlotte and the rest of the Carolinas. Devin Bryan, who also joins Walker & Dunlop from Cushman & Wakefield, will work as a director on the team. Based out of the Charlotte office, Saclarides will lead Walker & Dunlop’s sales efforts ...

Financial Data and Key Metrics Changes - Walker & Dunlop's revenues fell 15% in Q3 2023, resulting in total revenues of $269 million, with total transaction volumes down 49% year-over-year to $8.6 billion [6][10] - Diluted earnings per share declined 54% to $0.64, while adjusted core EPS was down only 21% to $1.11 per share [93][108] - Adjusted EBITDA decreased by 1% to $74 million, demonstrating stability in recurring revenue streams [93][108] Business Line Data and Key Metrics Changes - The Servicing and Asset Management (SAM) segment saw revenues increase by 15% year-over-year to $148 million, with net income up 47% [8] - Debt brokerage volume declined 52% year-over-year to $3.1 billion, reflecting challenges in non-multifamily acquisitions and financing markets [7] - The asset management business generated over $110 million in annual revenues, indicating strong growth potential [23] Market Data and Key Metrics Changes - The multifamily acquisitions market improved slightly, with property sales of $2.5 billion, down 50% year-over-year but up 67% from Q2 2023 [15] - Fannie Mae and Freddie Mac have deployed only $74 billion of their $150 billion annual multifamily lending caps, indicating a lack of demand in the current market [15] - The overall commercial real estate transaction activity remained low, with Q3 2023 transaction volume down 49% compared to the same quarter last year [17] Company Strategy and Development Direction - The company is focused on building a sustainable business model that can withstand market cycles, emphasizing the importance of its servicing and asset management segments [14][20] - Walker & Dunlop aims to capitalize on its brand and scale as financing and sales volumes are expected to return in the coming years [7] - The company is committed to its five-year strategic plan, "The Drive to '25," targeting $2 billion in revenues and $13 per share of earnings [14][114] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about the current macroeconomic conditions, particularly the rising interest rates impacting transaction volumes [14][50] - The expectation is that the market will transition from a "wait and see" attitude in 2023 to a more active "I must move" market in 2024, driven by the need to refinance maturing loans [106][113] - Management remains optimistic about the company's positioning for growth when the market stabilizes, highlighting the strength of its servicing and asset management platform [21][100] Other Important Information - The company has reduced its headcount, resulting in annualized personnel-related savings of $25 million, which contributed to stabilizing financial results [20] - Walker & Dunlop's technology investments in small-balance lending and appraisals are expected to drive growth and efficiency in its operations [23][94] - The company has a strong cash position of $236 million at the end of the quarter, allowing it to maintain liquidity and pay dividends [111] Q&A Session Summary Question: Impact of GSEs' new restrictions on W&D - Management noted that the implications of new restrictions from Fannie Mae and Freddie Mac are minimal for Walker & Dunlop, as less than 10% of its deal flow comes through brokers [116] Question: Interest rate outlook and transaction volumes - Management indicated that stabilization of interest rates could lead to increased transaction volumes, but emphasized the need for cap rates to adjust accordingly [120] Question: Growth opportunities in asset management and affordable housing - Management highlighted the significant growth potential in the asset management space and the importance of affordable housing, particularly with the Alliant acquisition [71][135]