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.
On November 17, 2021, Apprise by Walker & Dunlop announced the expansion of its West Coast team with three new hires: Aaron DeCollibus, Nikolas Rieser, and Jared Nelson. The team aims to enhance the firm's commercial real estate appraisal capabilities, supporting Jacinto Munoz, the West Coast Lead. DeCollibus brings extensive experience as Managing Director for the Pacific Northwest, while Rieser and Nelson enhance regional expertise. Apprise leverages AI technology and analytics to deliver rapid, reliable property valuations across the U.S.
Fortress Technology Solutions, a Nashville-based real estate tech firm, has secured its first external investment from Walker & Dunlop, the largest capital provider in the U.S. multifamily market. This strategic partnership aims to accelerate Fortress’ mission of enhancing property management through innovative technology. By integrating its software with Walker & Dunlop’s lending solutions, Fortress will provide clients with real-time data and insights on property performance and debt management, improving operational efficiency and transparency.
Walker & Dunlop has launched a new digital lending platform utilizing machine learning, aimed at enhancing its small balance multifamily lending business. The platform promises a faster and more transparent borrowing experience for investors by automating loan sizing and pricing. Key features include automatic quote generation, real-time data calculations, and improved transparency throughout the loan process. The company aims to leverage this technology to expand its market share in the $80 billion small multifamily loan market.
Walker & Dunlop (NYSE: WD) announced a minority investment in Fortress Technology Solutions, a real estate tech firm specializing in property management software for multifamily properties. This investment aims to enhance portfolio performance and offer comprehensive solutions to multifamily owners and operators. With approximately 22 million apartment units in the U.S., Walker & Dunlop targets $5 billion in annual loan originations by 2025, pairing its lending capabilities with Fortress's innovative software. This collaboration seeks to improve insights into debt portfolios and refinancing opportunities.
Zelman & Associates, a Walker & Dunlop company, announced the appointment of Philip Martin as Managing Director. With nearly 30 years of expertise, Martin aims to enhance rental housing research and collaborate on new insights for clients. CEO Ivy Zelman highlighted that his joining will integrate technology and improve research outputs. Walker & Dunlop aims to leverage this expansion to enhance its advisory services. The firm, which focuses on the U.S. housing sector, has established a solid reputation among institutional investors.
Walker & Dunlop reported a record total transaction volume of $18.5 billion in Q3 2021, up 120% from Q3 2020. Revenues reached $346.3 million, a 40% increase year-over-year, yielding a net income of $71.7 million and diluted EPS of $2.21. The adjusted EBITDA also hit a record at $72.4 million, up 60%. The company completed the acquisition of Zelman & Associates and agreed to acquire Alliant Capital. A quarterly dividend of $0.50 per share was declared for Q4 2021.
Walker & Dunlop announced the successful sale of The Co-Op at the Med Center, a 200-unit garden-style property in Houston, Texas, initially built as a hotel and converted into multifamily housing in 2018. The buyer, EAS Houston LLC, is set to enhance the property with significant upgrades, targeting increased rent growth and value appreciation due to its prime location near the Texas Medical Center. Walker & Dunlop's leadership in multifamily real estate is highlighted, with $4.74 billion in property sales volume in H1 2021 and a strong presence in the market.
Walker & Dunlop announced the expansion of its multifamily property sales team in Nashville by adding Managing Directors Russ Oldham and Brett Kingman. This strategic move enhances the existing team led by Telly Fathaly, who will assume a key leadership role in Atlanta. The firm aims to grow its annual multifamily property sales volume to over $25 billion by 2025. In 2021, Walker & Dunlop reported $4.7 billion in property sales volume in the first half, a 117% increase from 2020, and was a top provider in the multifamily lending market with $31 billion in transactions in 2020.
Walker & Dunlop has expanded into Charleston, South Carolina, hiring Walker Layne as Senior Director to enhance its Capital Markets group. Layne will focus on sourcing equity capital and debt financing for commercial real estate. The company aims for $65 billion in debt financing by 2025, building on its strong performance with $11 billion in debt volume in the first half of 2021, reflecting a 93% year-over-year increase. This strategic move supports Walker & Dunlop's growth in a healthy commercial real estate market.
Walker & Dunlop completed a $134 million sale of Griffis Marston Lake, a 332-unit multifamily community in Littleton, Colorado. This property is expected to perform strongly due to its renovation program, potential for rent growth, and limited new construction in the area. The sale was brokered by a team including Dan Woodward and David Potarf, with financing arranged through Fannie Mae for the buyer, Kennedy Wilson. Walker & Dunlop has reported a $4.7 billion sales volume in the first half of 2021, a 117% increase year-over-year.