Teachers Retirement System of The State of Kentucky Grows Position in Walker & Dunlop, Inc. $WD

Key Points

• Teachers Retirement System of Kentucky raised its stake by 982.7% to 98,592 shares of Walker & Dunlop (about 0.29% of the company) worth $5.93M in Q4, amid broad institutional buying that leaves hedge funds and institutions owning 80.97% of the stock.
• Two directors — Ernest Michael Freedman and Dana L. Schmaltz — made insider purchases, acquiring 5,000 shares at $49.21 and 1,000 shares at $45.78 respectively, modestly increasing their holdings.
• Walker & Dunlop missed Q4 EPS estimates

Teachers Retirement System of The State of Kentucky raised its holdings in shares of Walker & Dunlop, Inc. (NYSE:WD - Free Report) by 982.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,592 shares of the financial services provider's stock after buying an additional 89,486 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.29% of Walker & Dunlop worth $5,930,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Walker & Dunlop by 0.4% during the third quarter. Vanguard Group Inc. now owns 3,743,034 shares of the financial services provider's stock worth $312,993,000 after buying an additional 16,392 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Walker & Dunlop by 10.4% during the third quarter. Alliancebernstein L.P. now owns 1,198,071 shares of the financial services provider's stock worth $100,183,000 after buying an additional 113,282 shares in the last quarter. Deprince Race & Zollo Inc. grew its holdings in shares of Walker & Dunlop by 59.9% during the fourth quarter. Deprince Race & Zollo Inc. now owns 859,072 shares of the financial services provider's stock worth $51,673,000 after buying an additional 321,734 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Walker & Dunlop by 12.6% during the third quarter. Royce & Associates LP now owns 486,093 shares of the financial services provider's stock worth $40,647,000 after buying an additional 54,344 shares in the last quarter. Finally, Tributary Capital Management LLC grew its holdings in shares of Walker & Dunlop by 93.2% during the third quarter. Tributary Capital Management LLC now owns 325,282 shares of the financial services provider's stock worth $27,200,000 after buying an additional 156,944 shares in the last quarter. Hedge funds and other institutional investors own 80.97% of the company's stock.

Insider Transactions at Walker & Dunlop

In other news, Director Ernest Michael Freedman acquired 5,000 shares of the company's stock in a transaction that occurred on Thursday, March 5th. The stock was purchased at an average price of $49.21 per share, with a total value of $246,050.00. Following the completion of the acquisition, the director owned 6,097 shares of the company's stock, valued at $300,033.37. This trade represents a 455.79% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dana L. Schmaltz acquired 1,000 shares of the company's stock in a transaction that occurred on Wednesday, March 18th. The stock was purchased at an average cost of $45.78 per share, with a total value of $45,780.00. Following the acquisition, the director directly owned 84,325 shares of the company's stock, valued at $3,860,398.50. This trade represents a 1.20% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 4.02% of the company's stock.

Walker & Dunlop Trading Up 0.0%

Shares of WD opened at $51.44 on Monday. Walker & Dunlop, Inc. has a 12-month low of $42.12 and a 12-month high of $90.00. The firm has a 50-day moving average price of $49.29 and a 200 day moving average price of $60.96. The firm has a market capitalization of $1.76 billion, a P/E ratio of 31.36 and a beta of 1.53.

Walker & Dunlop (NYSE:WD - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.46 by ($1.18). Walker & Dunlop had a net margin of 4.56% and a return on equity of 6.81%. The firm had revenue of $340.02 million during the quarter, compared to analysts' expectations of $343.66 million. During the same period in the prior year, the company posted $1.32 EPS. The company's revenue for the quarter was down .4% compared to the same quarter last year.

Walker & Dunlop Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a $0.68 dividend. This is an increase from Walker & Dunlop's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Friday, March 13th. Walker & Dunlop's payout ratio is currently 165.85%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WD. Weiss Ratings lowered shares of Walker & Dunlop from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, April 6th. Stephens began coverage on shares of Walker & Dunlop in a report on Thursday. They set an "overweight" rating and a $69.00 target price for the company. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Walker & Dunlop from $80.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, February 27th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $78.80.

Walker & Dunlop Company Profile

Walker & Dunlop is one of the largest providers of commercial real estate finance in the United States, specializing in the origination, servicing and sale of loans secured by multifamily, seniors housing, healthcare, student housing and manufactured housing properties. The firm offers a full suite of debt and equity solutions, including agency financing through Fannie Mae and Freddie Mac, HUD and FHA-insured loans, bridge and construction financing, mezzanine debt, preferred equity, and investment sales advisory.

With roots dating back to 1937 and its headquarters in Bethesda, Maryland, Walker & Dunlop has expanded its platform through both organic growth and strategic acquisitions.

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