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. reports developments in commercial real estate finance and advisory services, with recurring updates on mortgage banking volume, revenues, servicing fees, and the performance of its Capital Markets and Servicing & Asset Management activities. The company originates, sells, and services multifamily and other commercial real estate financing products, including Agency executions tied to Fannie Mae, Freddie Mac, Ginnie Mae, HUD and the Federal Housing Administration.
Company news also covers arranged debt and equity capital for multifamily, affordable housing, hospitality, self-storage and other commercial real estate assets. Updates frequently describe refinancing, construction financing, institutional advisory mandates, LIHTC affordable equity capabilities, servicing portfolio growth, credit exposure from indemnified or repurchased loans, and management commentary on capital markets conditions.
Walker & Dunlop's Walker Webcast celebrates its 200th episode featuring General David Petraeus. The award-winning webcast has gained significant popularity, attracting over 65,000 views weekly and amassing a total of 11 million viewers. Hosted by Willy Walker, the CEO of Walker & Dunlop, the webcast has become a top 2% global business podcast.
The milestone episode, airing on September 18th at 12:30 pm EDT, will cover topics such as global security, leadership lessons, and current world challenges. The webcast's success has expanded Walker & Dunlop's brand beyond expectations, evolving from a pandemic communication tool to a showcase of thought leadership.
Walker & Dunlop's Apprise platform has won the 'CRE Data Innovation Award' in the 4th annual PropTech Breakthrough Awards. Apprise is an independent valuation, data, and advisory platform that combines expert appraisers with advanced data science and technology. The platform aggregates 2.5 million records and 250 critical variables, delivering accelerated, data-driven appraisals nationwide.
Apprise's unique features include:
- Web-based solution for commercial property appraisals
- Intuitive dashboards for valuation trends and sales data
- Early integration of Jan 2025 Fannie Mae XML standards
- Track record of valuing $350 billion in commercial real estate
This recognition highlights Apprise's role in transforming the valuation advisory industry and setting new standards for appraisers in shaping the market.
Walker & Dunlop's creative team has been honored with multiple 2024 Hermes Creative Awards for their exceptional work on the company's website and Walker Webcast. The team received three Platinum Awards for website redesign, home page, and overall website design, as well as a Gold Award for rebranding the Walker Webcast. The Hermes Creative Awards is a global competition celebrating creative excellence across various media, with over 6,500 entries from 38 countries.
Matt Cabral, SVP and creative director, emphasized the team's dedication to creative excellence and meeting business needs. Carol McNerney, CMO, highlighted the in-house agency as a competitive advantage for Walker & Dunlop. The recognition underscores the company's progress in creative innovation and its commitment to pushing boundaries in digital media and marketing.
Walker & Dunlop has arranged a $1.2 billion refinancing for One High Line, a luxury mixed-use property in Manhattan. The New York Capital Markets team, led by Aaron Appel, secured funding from JP Morgan and TYKO Capital. The refinancing will repay existing debt, fund remaining costs, and establish reserves.
One High Line spans 750,000 net square feet across two towers and a commercial building, featuring 236 condominium units, a future 120-key Faena hotel, office space, and retail. Located in West Chelsea, the property has been the best-selling in New York City for units over $5 million. The development, acquired by The Witkoff Group, Access Industries, and Monroe Capital in 2021, showcases Walker & Dunlop's expertise in sourcing capital for high-value transactions.
Walker & Dunlop has arranged $128 million in financing for the acquisition of nine Manhattan properties in the East Village neighborhood. The portfolio, acquired by RYCO Capital, includes 171 residential units and 22 retail units, totaling 153,800 square feet. The properties are located along 2nd Avenue between St Marks and East 10th Street.
The New York City apartment market continues to show strong fundamentals, with the submarket maintaining low vacancy rates. The East Village location is attractive to creatives and young professionals, with a submarket vacancy rate of just 1.5%. The properties are near New York University and surrounded by various amenities.
Derby Copeland Capital provided the interest-only floating rate bridge loan for this acquisition. In 2023, Walker & Dunlop's Capital Markets group sourced nearly $12 billion from non-Agency capital providers.
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.