Welcome to our dedicated page for Walker & Dunlop news (Ticker: WD), a resource for investors and traders seeking the latest updates and insights on Walker & Dunlop stock.
Walker & Dunlop, Inc. (NYSE: WD) is a commercial real estate finance and advisory services firm that regularly announces significant transactions and platform developments. This news page aggregates company-issued updates so readers can follow how Walker & Dunlop originates, arranges, and services financing across multifamily and other commercial real estate assets in the United States.
Recent news releases highlight Walker & Dunlop’s Capital Markets Institutional Advisory practice arranging large loans for hotel refinancings, mixed-use office and retail properties, office-to-residential conversions, and major multifamily and mixed-income developments in markets such as New York City, Miami, Cambridge, and Newark. These updates illustrate the firm’s role in connecting developers, owners, and operators with institutional and non-agency capital providers.
Company announcements also cover the growth of specialized platforms. Apprise by Walker & Dunlop, a valuation and data analytics platform focused on U.S. commercial real estate, reports new practice groups such as a national HUD/FHA multifamily valuation and market study team. In affordable housing, Walker & Dunlop has publicized the launch of Walker & Dunlop Affordable Bridge Capital, a joint venture with Pretium designed to originate flexible, short-term first-mortgage bridge loans for affordable multifamily properties preparing for long-term government-affordable programs.
Governance and corporate finance developments appear in both SEC filings and press releases, including amendments to repurchase facilities and changes to the board of directors. Investors, real estate professionals, and other stakeholders can use this page to review Walker & Dunlop’s latest financings, platform expansions, and strategic initiatives as disclosed in its official communications.
Walker & Dunlop reported Q2 2024 financial results with total transaction volume of $8.4 billion, flat year-over-year. Total revenues decreased 1% to $270.7 million, while net income dropped 18% to $22.7 million and EPS was $0.67, also down 18%. However, adjusted EBITDA rose 15% to $80.9 million, and adjusted core EPS increased 26% to $1.23. The servicing portfolio grew 5% to $132.8 billion. A quarterly dividend of $0.65 per share was declared. Year-to-date results show a 2% decline in total revenues to $498.7 million and a 36% drop in net income to $34.5 million, with diluted EPS decreasing by 37% to $1.02. Adjusted EBITDA grew 12% to $155.1 million, and adjusted core EPS increased 12% to $2.39. The company attributes the revenue decline to lower Fannie Mae loan originations and higher loan loss provisions, but highlights growth in recurring revenue streams and increased transaction volumes.
Walker & Dunlop, Inc. (NYSE: WD) has expanded its Investment Sales team in the Midwest by adding Jeff Stingley as managing director in Kansas City. Stingley, with over 20 years of experience, specializes in multifamily property valuation and disposition. He joins from CBRE, where he was a top producer for 10 out of 12 years, facilitating the sale of 45,000 multifamily units totaling over $5 billion in transaction volume.
This expansion follows recent additions to Walker & Dunlop's Midwest team, including managing directors Steve LaMotte Jr. and Dane Wilson. The company aims to capitalize on the Midwest's growing investment landscape and attract additional capital as the regional economy strengthens. Walker & Dunlop has completed over $51 billion in property sales volume since 2021 and originated over $24 billion in debt financing volume in 2023.
Walker & Dunlop has successfully closed a $285,500,000 refinancing for two Class A student housing properties, Vantage and The View at Montgomery, located on Temple University's campus in Philadelphia. This represents one of the largest student housing financings in 2024 so far. The refinancing includes:
- $176 million for Vantage (368 units/984 beds)
- $109.5 million for The View at Montgomery (238 units/832 beds)
The deal involved Walker & Dunlop's Bethesda Multifamily Finance team and New York Capital Markets team, who secured seven-year fixed-rate loans through Freddie Mac. Walker & Dunlop Investment Partners (WDIP) also provided preferred equity investments for both properties.
Walker & Dunlop (WD) has announced the details for its second quarter 2024 earnings conference call. The company will release its Q2 2024 results before the market opens on August 8, 2024. A conference call to discuss the quarterly results is scheduled for the same day at 8:30 a.m. Eastern time. Investors and analysts can access the call by dialing (888) 256-1007 from within the United States or (773) 305-6853 from outside the US, using the Confirmation Code: 5034007. Additionally, a simultaneous webcast of the call will be available, and a replay can be accessed on the company's Investor Relations website.
Walker & Dunlop has arranged the $167,000,000 sale of Millennium PQ, a 331-unit multifamily community in San Diego's Rancho Penasquitos neighborhood. This transaction marks the largest suburban core sale and second-largest single-asset sale in California, as well as the fifth largest nationwide in 2024. The sale price equates to $504,532 per unit.
The property's location near top employment hubs, including Apple's future campus, and its high-end amenities contributed to its attractiveness. San Diego's market strength is highlighted by consistent rent growth and the influx of life science and tech companies. Walker & Dunlop's Investment Sales team represented both the seller and buyer in this significant transaction.
Walker & Dunlop announced it has successfully arranged a $148 million refinance loan for The Victoria, the tallest building in Harlem. The project, developed by Lam Group and Exact Capital, includes luxury residences, a Marriott-branded Renaissance Hotel, and retail space. Completed in Q3 2023, The Victoria features 191 residential units, a 211-key hotel, over 23,000 square feet of retail space, and 52 below-grade parking spaces. Located near prominent cultural landmarks like the Apollo Theater and Columbia University's Manhattanville campus, the property blends modern amenities with Harlem's rich cultural heritage. The loan, secured by Aareal Capital, will support ongoing operations and future enhancements of this iconic development.
Zelman & Associates, a Walker & Dunlop company, announces the return of its annual Housing Summit, which will be held in person on September 12th and 13th at the InterContinental Hotel in Boston. The event is open for registration and will gather over 600 industry executives, analysts, and investors to discuss market trends, opportunities, and challenges in the real estate sector. Highlights include sessions on the State of the Housing Market, homebuilding, mortgage lending, multifamily, single-family rentals, and housing mergers & acquisitions. Founded in 2007, Zelman & Associates specializes in institutional research and investment banking services for the U.S. housing industry.
Walker & Dunlop has successfully arranged $29.6 million in federal Low-Income Housing Tax Credit (LIHTC) equity for Canyon Creek East, an affordable housing project in Lenexa, Kansas. This development will include 212 multifamily units across five buildings, offering one-, two-, and three-bedroom units for diverse households. The financing will cover approximately 40% of the total development costs.
The project is part of the Cedar Canyon West development plan, aiming to provide affordable housing for households earning 30% to 80% of the area median income (AMI). Canyon Creek East is strategically located near major employers and schools, enhancing residents' access to employment and education. Walker & Dunlop's Affordable Equity team, led by Jennifer Erixon, played a important role in securing this financing, marking their sixth transaction with MRE Capital.
Walker & Dunlop announced that Gary Pinkus, former managing partner of McKinsey & Company’s North American operations and global leader of McKinsey’s Private Equity & Principal Investors Practice, has been elected to its board of directors. Pinkus will also serve on the Audit and Risk Committee. Chairman and CEO Willy Walker emphasized Pinkus's extensive business knowledge and experience. Pinkus, who has served on McKinsey’s Shareholders Council since 2009 and chaired the Senior Partners Committee, expressed excitement to contribute to Walker & Dunlop's growth and strategic direction.
Walker & Dunlop announced the election of Gary Pinkus to its board of directors. Pinkus will serve as an independent director and a member of the Audit and Risk Committee. With a robust background as the former managing partner of McKinsey & Company's North American operations and global leader of its Private Equity & Principal Investors Practice, Pinkus brings significant expertise to the table. Chairman and CEO Willy Walker expressed enthusiasm about Pinkus's addition, highlighting his potential to guide the company's future growth and strategic direction. Pinkus, who has a long-standing professional relationship with Walker, also voiced his excitement to contribute to Walker & Dunlop's continued success.