Newmark Group (NASDAQ:NMRK) is one of the 10 best real estate services stocks to buy according to hedge funds.
On January 8, Alex Bond from Keefe Bruyette raised his price target on Newmark Group (NASDAQ:NMRK) from $21 to $22. The analyst maintained an Outperform rating on the stock, which he believes offers an upside potential of 36% from the current level.
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On January 6, Newmark Group (NASDAQ:NMRK) announced that the company has entered into an arrangement to divest its 1.4 million-square-foot micro-bay industrial portfolio. This will be an off-market sale to the Silverman Group for $203 million. This well-diversified portfolio, which spans the Mid-Atlantic region, is comprised of 50 individual buildings and 600 tenants. It covers Maryland and Northern Virginia, which are usually faced with lots of supply constraints and are also considered to be amongst the most demographically dense industrial corridors in the U.S.
Newmark Group (NASDAQ:NMRK) operates across several functions within the commercial real estate sector. Based on a strong emphasis on data analytics and technology, it delivers investment sales and commercial mortgage brokerage services, along with valuation, advisory, property management, due diligence, and other services.
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Disclosure: None. This article is originally published at Insider Monkey.
