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IRVINE, Calif. - Newmark Group, Inc. (NASDAQ:NMRK), a globally recognized commercial real estate advisor with a market capitalization of $3.2 billion, announced the appointment of Justin Shepherd as Co-Head and Vice Chairman of its U.S. Healthcare Capital Markets practice. Shepherd joins the existing leadership team, which includes Co-Heads and Vice Chairmen Ben Appel and Jay Miele, and Vice Chairman, Head of Healthcare Debt John Nero. According to InvestingPro data, three analysts have recently revised their earnings expectations upward for the upcoming period, suggesting positive momentum for the company’s strategic initiatives.
Shepherd, who specializes in Medical Outpatient Building (MOB) and healthcare real estate sales, recapitalizations, joint venture equity, and financing, brings over 15 years of experience and has facilitated more than $20 billion in healthcare real estate transactions. His hiring is part of Newmark’s strategic expansion in the healthcare sector, aiming to enhance the company’s impact in the market.
The U.S. Healthcare Capital Markets practice at Newmark, established in 2021, has been a leader in institutional investment sales, joint venture equity, portfolio transactions, and debt placement. The team, operating from major cities such as Philadelphia, New York, Boston, San Diego, and Los Angeles, has advised on nearly $40 billion of healthcare real estate transactions nationwide. As a prominent player in the Real Estate Management & Development industry, Newmark has demonstrated strong revenue growth, with the company reporting $2.7 billion in revenue for the last twelve months.
President of Capital Markets for North America at Newmark, Chad Lavender, expressed enthusiasm for Shepherd’s addition to the team, citing it as indicative of Newmark’s leading position in capital markets and alternative assets. Ben Appel highlighted the shared commitment to excellence within the practice and the value Shepherd’s expertise adds to the team.
Newmark’s recent growth in the Western US is also underscored by the hiring of multifamily advisors and a leading Phoenix office leasing team in the first quarter of the year. The company, which reported revenues of over $2.7 billion for the twelve months ended December 31, 2024, operates from approximately 170 offices with more than 8,000 professionals across four continents.
The information in this article is based on a press release statement from Newmark Group, Inc. Based on InvestingPro analysis, the company’s stock currently trades below its Fair Value, with analyst price targets suggesting potential upside. Investors can access 13 additional exclusive ProTips and comprehensive financial analysis through InvestingPro’s detailed research reports, available for over 1,400 US stocks including Newmark Group.
In other recent news, Newmark Group Inc. reported its fourth-quarter 2024 earnings, which exceeded analysts’ expectations. The company achieved an adjusted EPS of $0.55, surpassing the forecast of $0.47, and generated revenues of $888.3 million, well above the anticipated $784.83 million. This strong financial performance reflects significant revenue growth across all business lines, including management and servicing, leasing, and capital markets. Additionally, Newmark secured a $275 million refinancing loan for a multifamily property in New York City, highlighting its active role in real estate financing. The loan was arranged on behalf of Rockpoint and Brooksville Company, with Apollo Global Management providing the funds. Furthermore, Newmark reported annual revenues exceeding $2.7 billion for the year ending December 31, 2024. Analyst firms such as Piper Sandler and Raymond James have shown interest in Newmark’s strategic positioning, particularly in data center transactions and international expansion. These developments underscore Newmark’s continued growth and strategic investments in the commercial real estate sector.
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