Walker & Dunlop Inc Stock Price, News & Analysis

Walker & Dunlop completed the $60 million sale of 416 on Broadway, a 115-unit Class A apartment community in Glendale, Los Angeles. Originally built as condominiums in 2009, the property features large floor plans averaging 1,102 square feet, appealing to renters seeking extra space. The location boasts occupancy rates above 96% and consistent rent growth, despite an increase in multifamily inventory. Walker & Dunlop also arranged acquisition debt for the buyer at historically low interest rates, showcasing its strength in multifamily financing.

Walker & Dunlop reported Q3 2020 revenues of $247.0 million, a 16% increase year-over-year, with net income rising 21% to $53.2 million, or $1.66 per diluted share. Total transaction volume decreased 6% to $8.4 billion, despite a 36% increase in Agency lending. Year-to-date revenues reached $734.0 million, up 22% from 2019. The company declared a dividend of $0.36 per share for Q4 2020, and the servicing portfolio expanded to $103.4 billion, a 13% increase. Cash on hand totaled $294.9 million.

Walker & Dunlop announced $38.4 million in financing for four skilled nursing properties in Illinois, enhancing their presence near Chicago. The properties financed include Aperion Care Plum Grove, Pavilion of Waukegan, Park View Rehab Center, and River View Rehab Center. Led by Joshua Rosen, the financing utilized HUD's LEAN 232/233(f) and 223(a)7 programs, offering long-term, low-rate loans. Despite COVID-19 challenges, the company secured favorable fixed rates and flexible loan terms, supporting the critical expansion of senior housing and nursing facilities.

Walker & Dunlop arranged $82 million in bridge financing for The Rise Flagler Village, a 348-unit apartment project located in Fort Lauderdale, Florida. This 30-story building, opened in April 2020, is situated in a revitalized area offering diverse shopping and dining options. The financing, structured by Managing Director Eric McGlynn, will refinance existing construction debt and includes a four-year term. Walker & Dunlop reported $10.4 billion in loan originations in 2019, emphasizing its strong industry network.

Walker & Dunlop announced the sale of The Columns at Bentley Manor, a 418-unit apartment community in Marietta, Georgia. The transaction highlights the property's strategic location near the Cumberland and Galleria submarkets, with access to over 31 million square feet of office space and proximity to The Battery Atlanta. The buyer, The Carroll Organization, plans a $3.5 million capital improvement plan. Walker & Dunlop facilitated financing through Freddie Mac's program. In 2019, Walker & Dunlop completed $5.4 billion in property sales and $26.6 billion in debt originations.

Walker & Dunlop, based in Bethesda, Maryland, announced its commitment to diversity and inclusion within the commercial real estate sector. The company aims to double minority and female representation in leadership roles by 2025. As part of this initiative, they have launched a partnership with Management Leadership for Tomorrow to support the Black Equity at Work Certification, focusing on improving Black representation and compensation equity. The certification emphasizes creating an inclusive work environment and implementing just business practices, ensuring measurable progress in diversity efforts.

Walker & Dunlop announced the successful sale of Valentina by Alta, a 110-unit apartment community located in the desirable Little Italy neighborhood of San Diego, California. Completed in summer 2019, the property features luxury amenities and significant local interest. The sale was facilitated by Walker & Dunlop's property sales team, representing Wood Partners and purchased by TA Realty. Walker & Dunlop was ranked among the top multifamily lenders in 2019, with a notable $5.4 billion in sales volume.

Walker & Dunlop will release its third quarter 2020 results on October 29, 2020, before the market opens. A webcast is scheduled for 8:30 a.m. Eastern time the same day to discuss the results. Interested parties can access the webcast through the provided link or by calling +1 408 901 0584. Walker & Dunlop is a leading commercial real estate finance company in the U.S., providing diverse capital solutions and investment sales brokerage services. The company is part of the S&P SmallCap 600 Index and has been recognized in FORTUNE Magazine for rapid growth in previous years.