Valuation and advisory has continued to perform quite well. The two-year window for the spin-off ends on November 30. And can you give a range of maybe what might be reasonable to expect in terms of growth parameters? Yeah. Invest -- as I've said on other calls, there's $200 billion of dry powder, $300-plus billion of dry powder. And what would you expect for 2021? This concludes our question-and-answer session. Please go ahead. Knight Frank is a service mark of Knight Frank (Nominees) Limited. Stock Advisor launched in February of 2002. And we'll get into some more details on that. Life sciences had a tremendous uptick, particularly, as you know, what's happened with the pandemic. And Jade, I would add -- sorry. Environmental, Social and Governance Committee Charter. It's just at what price or what cost. Are we going to see brokers sort of earning less because the tenants are taking more of it, or those trends have been pretty consistent, and therefore, we shouldn't really expect any change? [Operator Instructions] Your next question comes from Henry Coffey with Wedbush. So I think that was probably hurt a little bit more. So it's not -- we're not -- it's not too distant before we see 40% to 50%. We'll continue to generate cash flow from the business through the end of the year, plus we'll get close to $30 million out of the NASDAQ share. In the third quarter, our revenues were down 25.7% due to the impact of the pandemic on industry volumes. Newmark Group, Inc. (NASDAQ:NMRK)Q3 2020 Earnings CallNov 5, 2020, 10:00 a.m. And we will adjust to whatever confidence. Multifamily, life sciences, and industrial should outperform the property types in the fourth quarter and into 2021. And at the September 30 NASDAQ prices, and even given some of the monetizations we've done through 2022, it's close to $700 million of incremental capital to Newmark. I would like to begin by thanking our employees for the dedication and ingenuity they have shown throughout the pandemic. Our strength in multifamily and industrial will drive the ongoing recovery in capital markets as investors increasingly allocate capital to these property types. We have very active clients in the investment sales space in the debt space that are keeping us busy. That's a little bit worse than some of your publicly traded competitors who have already reported. We don't -- we're not as pessimistic as some of our peers. So why are you not in a position to communicate your capital term plans to investors this quarter as opposed to next quarter? We have captured market share in a number of business lines during a period of extraordinary difficulty. And because we retain the upside, the earn-out will generate $28 million of additional liquidity based on NASDAQ's September 30 closing price. And certainly CEOs, if they can reduce their cost in real estate, of course they will. Box 2189. Jade, the last thing I would point out there is that, because of the strength of our balance sheet, we do have the ability both to return capital to shareholders and invest in the business over the near term. Our capital markets and debt volumes rebounded by 50% quarter-over-quarter. I'm trying to think about the business going forward. Newmark provides a fully integrated platform of services to prominent multinational corporations and institutional investors across the globe, as well as to occupiers, owners and developers of real estate on a local, regional and national level. I think we're pretty well-positioned for either. The Spin-Off is intended to qualify as generally tax free to BGC stockholders for U.S. federal income tax purposes. At this time, I think we have sufficient capital on the balance sheet, draw availability, both to return capital to investors, and continue to invest in our business. Despite the challenges facing commercial real estate, we saw sequential improvement and market share gains in several key business lines. You can't build culture with everybody sitting at home. Okay. But still, at the end of the day, this is -- we're in the middle of the pandemic. No, I agree. So, we have sufficient capital on the balance sheet. Investors. I'm curious in terms of how you're thinking strategically about the business and the best opportunity is to grow shareholder value. Please go ahead. Newmark Group, Inc. provides commercial real estate services in the United States and internationally. Our integrated platform seamlessly powers every phase of owning or occupying a property. So there is a significant amount of low interest rates. We've done a really good job around our working capital management. I hope you're all well. Newmark Group, Inc. is traded on the NASDAQ. So, we're continuing to look at that. But surprisingly, the pricing on multi has been good and consistently looks good, and I'm encouraged into '21. Zacks Equity Research 10/07/2020 02:46 AM ET Due to strong GSE originations, gains from mortgage banking increased 26.1%. Thank you, and good morning. Good morning, and thank you for joining us for Newmark's Third Quarter 2020 Conference Call. I think, in response to a previous question and kinda given the geographic dispersion of the multifamily business, it sounds like you're not really concerned about urban flight as a structural headwind. I have a couple this morning, if I could. I'm now happy to turn the call over to our host, Barry Gosin, CEO of Newmark Group, Inc.? We increased our year-to-date market share in investment sales and GSE originations by 100 basis points and 50 basis points, respectively. I wanna thank everybody for being on this call. Stockholders of BGC Partners Class A common stock received 0.463895 of a share of Newmark Class A common stock in the Distribution for every one share of BGC Partners Class A common stock held. Globally, there's still an enormous amount of capital available to invest. Newmark Group, Inc. (NASDAQ:NMRK) Q3 2020 Earnings Conference Call November 5, 2020 10:00 AM ET Company Participants. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. The second question is, Mike, appreciate the comments on the $62 million of cash flow in the quarter. Shareholder Information. NeoPhotonics is a leading designer and manufacturer of advanced hybrid photonic integrated optoelectronic modules and subsystems for bandwidth-intensive, high-speed communications networks. Newmark Group (NMRK) Surges: Stock Moves 5.8% Higher Newmark Group (NMRK) saw a big move last session, as its shares jumped nearly 6% on the day, amid huge volumes. If you have vested shares of common stock, you can contact our Transfer Agent, American Stock Transfer at 1-800-278-4353 or https://www.astfinancial.com. But what are you thinking about that right now? However, investors should pay attention to other factors too for betting on ⦠Is that just a function of geographic mix? Stock Information; Analyst Coverage; Dividend History; Dividend Reinvestment & Stock Purchase; Spin-Off Information; News Releases. There are certain aspects of the office workers that have to be in the office, and some more perfunctory contract workers that will work more remotely. We maintain our global reach through our partnership with Knight Frank, augmented by our international capital markets and global fundraising capabilities. Newmark offers a diverse array of integrated services and products designed to meet the full needs of both real estate investors/owners and occupiers. Bill McCarthy Vice President Investor Relations 3460 Preston Ridge Road, Suite 600 Alpharetta, GA 30005. You must click the link in the email to activate your subscription. It's pretty consistent. But as soon as that discovery per se is there. ?But otherwise, these revenues remained stable. I will now turn the call over to Jason Harbes, VP of Investor Relations. Okay. We've looked at specific areas to fill in white space to put members of the team on the field in things that help us on a holistic basis and create a multiplier. Newmark Group, Inc. (NMRK) Q3 2020 Earnings Call Transcript NMRK earnings call for the period ending September 30, 2020. Jeff Day -- Chief Strategy Officer and President, Head of Multifamily Capital Markets. There is a wide spectrum of views on that. And let me add my congratulations. When does Newmark’s Annual Shareholders’ Meeting take place? Operator, we would now like to open the call for questions.? For starters, we made a conscious effort to be a leader in the alternatives. Is this more dividend? I think, we also have a significant amount of ability to grow in our services line, property management, global corporate services. Thank you, Gary, and good morning. Do you think those create value? We have a good runway in industrial, we have a good runway in many of the other categories, as well as multi. Your next question comes from Patrick O'Shaughnessy with Raymond James. We're at this -- we're sort of at a second wave of this pandemic. Sure. First, Barry, just maybe start with the capital return that you just mentioned. On the office -- or not the office, on the leasing side, on the brokerage side, leasing side of the business, often, we speak to brokers, we'll hear about commission sharing where you get a big tenant who does a big deal, and then they say, "Hey, I want x percent of the leasing commission." But there will also be more collaborative and team spaces in their headquarters to support that effort and to create the kind of collaboration culture that is necessary to have that, create that goodwill for a company and the brand. These include statements about the effects of the COVID-19 pandemic on the company's business results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risks, but the actual impact may differ perhaps materially from what is currently expected. The Company announces future financial results release dates in the press release section of the investor relations website. And just to add to that, that's an area that -- recall all of the foundational work that we've done to build the platform, puts us in a position to be in a place where we can stack all those businesses without a lot of acquisitions, just by winning more business. We have built a company that has remained strongly profitable during the quarter. We are not a partnership and do not issue a tax Form K-1 to outside investors; common Class A shareholders should receive such information from their broker or custodian; you may find certain past dividend information for tax reporting purposes here. Newmark, Grubb & Ellis, ARA, Computerized Facility Integration, Excess Space Retail Services, Inc., and Berkeley Point are trademarks/service marks, and/or registered trademarks/service marks and/or service marks of Newmark Group, Inc. and/or its affiliates. The comment was around the full year 2020, Jade. So, I don't think anyone can make a final determination of what happens. I also remind you that information on this call regarding our business that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Our DSOs are down year-to-date, over 10 days, so we really stay focused on that. I think you'll see it in our deck. But we believe that CEOs are going to want to bring their office workers back to the office, better monitoring and more productivity. Can you comment on M&A in the space? P.O. Luis Alvarado -- Chief Revenue Officer and East Region Market Leader. What tax forms should I expect to receive? Got it. He will coordinate the development of strategies to drive value for clients, shareholders and professionals. Thank you for the question. Year-to-date, we have gained approximately 50 basis points of market share in GSE. Other income for adjusted earnings was $94.5 million and reflects the annual NASDAQ earn-out. What are you seeing right now in leasing that would have maybe -- that you'd attribute that underperformance to? Yeah, thanks. Just a few questions here. And if the alternative met itself, then they're gonna go to the market with that. We believe that the office is going to be here, and that the remote working will be a part of it. ... 10 stocks we like better than Newmark Group, Inc. Our leasing revenues were down 46.1%. Yeah. It could be conversion to industrial, it could be a conversion to medical, it could be a conversion of multifamily. Well, depending on the particular area, food group, I think low interest rates generally, historically have been an important aspect of activity. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to the risk factors set forth in our most recent Form 10-K, Form 10-Q, or Form 8-K filings. So, we're the number one in senior housing, number one in student housing, number one in self-storage. So it's hard to -- this is a very fluid situation, but I think we'll be moving in the direction of getting back to the volumes that we were at. Additionally, for the full year 2020, we expect GAAP equity-based compensation and allocations of net income to decrease by approximately 50%. Thank you, Jason. Additional information with respect to our GAAP and non-GAAP results mentioned on today's call is available on our website and in our investor presentation. We'll likely see suburban office come back quicker. And as you can see, we've done a really good job maintaining our leverage, mainly because we started from a very low leverage coming into the pandemic. So, thinking about fourth quarter and tying back to your comments on the expectation for transaction-based activity. I am a former employee of the Company that has vested shares of Newmark stock. NEW YORK â Newmark Group Co. has appointed Jimmy Hinton to the newly-created position of head of investor strategies. The question is, what's the impact on -- and what is the productivity slippage in respect of not being in the office and relying on remote working? [Operator Instructions] Your first question comes from Alexander Goldfarb with Sandler O'Neill. In your view, the amount that these tenants are claiming or clawing back, however you want to term it, have those been pretty consistent over the years, or are you seeing tenants claw back more of those commissions? NYU Stern School of Business. Thank you. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. We maintained strong liquidity and credit metrics. We received the shares from NASDAQ in the fourth quarter of each year. And -- so there are alternatives, and some of the investors who've been reticent on office or turning to other forms of investing. So we're sufficiently diverse and very focused on getting people who are talented in the business, so that will increase -- we'll continue to increase our market share, which is really important. Where, despite -- I wish everybody health and safety, and I look forward to speaking to you in the next quarter. But we believe that ultimately, the business is moving toward a densification that overshot the mark. When does the Company next report its financial results? Are there increased opportunities there? We expect our support and operational expenses to increase sequentially, consistent with an overall increase in activity. Alexander Goldfarb -- Sandler O'Neill -- Analyst. We will be referring to our results on this call only on an adjusted earnings basis unless otherwise stated. And then last one for me, so your leasing revenues were down, I think it was 46% year-over-year. On which exchange does Newmark common stock trade? This is Lou Alvarado, Jade. Overview; FAQ; Fact Sheet; Investor Toolkit; Stock Information ... Newmark Group, Inc. Reports Third Quarter 2020 Financial Results. We're obviously thinking about it a lot internally. I would say it's a little -- it's just really some timing, some geographic mix. And secondly, over what time period do you think a recovery in volumes might take place, getting back to the average north of $500 billion that we've seen over the past five years? I would now like to turn the conference over to Mr. Jason Harbes, Head of Investor Relations. Investor Relations. Obviously, the cash flow from operations will depend on the earnings. I think we'll also have movement in the office sector as well. Newmark Group, Inc. (NASDAQ:NMRK) Q2 2020 Earnings Conference Call August 06, 2020 10:00 AM ET Company Participants Jason Harbes - Investor Relations Barry Gosin - ⦠NEW YORK â Newmark Group Co. has appointed Jimmy Hinton to the newly-created position of head of investor strategies. Good morning. Knight Frank is a service mark of Knight Frank (Nominees) Limited. Joining me virtually on the call today are Newmark's Chief Financial Officer, Mike Rispoli; our Chief Strategy Officer, Jeff Day; and our Chief Revenue Officer, Lou Alvarado. How does that factor into the equation? And that's -- that is a significant impact to us because it is a -- it is the area where there's significant focus by our occupiers today. Well, clearly, we're seeing -- I wouldn't call it urban flight, but we are seeing some migration from urban areas to suburban areas. Please click here for the information statement on the Spin-Off of Newmark Group, Inc. by BGC Partners, Inc. through the Distribution of Newmark Group, Inc. Common Stock. During the third quarter, the company repaid $75 million on our revolving credit facility. Newmark Group, Inc. (NASDAQ: NMRK) (âNewmarkâor âtheCompanyâ)generally operates as âNewmarkKnight Frankâ,âNewmarkâ,âNKFâ,or derivations of these names. I am an employee or former employee/partner of the Company. And so that's just been very, very consistent across all markets across the country. ?This brings us back to our pre-pandemic debt level. And it sounds like things are, as you said, getting better as far as certainly, capital markets, everyone loves industrial and multifamily. The CMU presententation will presents the Groupâs strategic development, ambitions and outlook after completion of the strategy process initiated in the second half of 2019 Please read more and find all relevant material in the CMU page. I would now like to turn the call back to Barry.? We have sufficient ability to borrow under the revolver if we need to, another $225 million from where we currently stand. Thank you very much. To receive notifications via email, enter your email address and select at least one subscription below. And I mean, there is a lot of development in industrial, which will create way more in -- way more inventory coming online for us, both on the leasing side and ultimately, the finance side and the sales side. You can find dividend information by clicking here. Okay. So the $62 million, is that a good level to think about on a run rate basis, or is that a, level or is that -- are there some adjustments that we should think about as we think forward on the company? These businesses comprise 25% of our revenues in the third quarter and our near-term objective is to grow these businesses to 33% of our overall revenues. Such statements involve risks and uncertainties. Within his new role, Hinton will work directly with the firmâs executive team. But I mean, when you look at office in the -- in a normalized world, the typical occupancy of an office building is generally around 64%, 65% of employees in at any one time. Our expectation is that the lower interest rate environment, significant capital available for real estate, improving real estate credit markets and the narrowing bid-ask gap between buyers and sellers in many parts of the market should drive capital markets activity going forward. And then, is this something that would be more on a recurring basis, meaning it would be sustainable quarter after quarter, or are these some one-time measures that you're compensated? Newmark Group doesn't appear a compelling earnings-beat candidate. Turning to our expectations for the fourth quarter. Nice quarter during a tough time. And if we think we needed the capital, we could certainly go that route. (804)788-5555. e-mail: Investor Relations. We will look for fill-ins and where opportunities for accretive acquisitions will occur. Please go ahead.? It's looking like investment sales for the year could be down 40% to 50% from the average over the last five years, which would imply a strong double-digit CAGR in the business once growth resumes. As we stay focused on our working capital, we think that we continue to generate significant cash flow from the business. First, thank you for the improved disclosure with the owners and the breakout, so that is -- that's helpful for a go-forward. So we feel really confident and comfortable. We had a lot of cash flow improvements from really focusing on collection of receivables. I think that we're considering and internally discussing how we're gonna best serve our shareholders with respect to the use of our capital, which could include all of the above. Contacts. You're hitting all the right strokes, doing all the right things. Is Newmark a publicly traded partnership? As you look at Newmark's overall valuation, it's market capitalization, it's total enterprise value, and think about potential opportunities to enhance value for all stakeholders, what are the biggest opportunities? Investor Relations. If you have a question regarding your partnership units, you can contact our partnership hotline at 1-212-915-1768. So it remains to be a pretty substantial off-balance sheet asset for us. Jeff, I'll let you address valuations. Any figures with respect to cash flow from operations, discussed on today's call refer to net cash provided by operating activities, excluding loan originations and sales. The platform we have built positions us to outperform as the markets recover. Investor Relations Hotline. I mean, we do have a large leasing in both the Bay Area and the West Coast and New York, and some of the other urban areas. Investor Relations Global Contacts Newmark Group Inc Class A NMRK Morningstar Rating Rating as of Jan 7, 2021. Cantor Fitzgerald. 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This brings us back to our best-in-class talent with key hires in industrial it. The Investor Relations at least one subscription below still open but what are guys... From Henry Coffey with Wedbush industrial side, i do n't -- 're... M & a in the next quarter the Third quarter 2020 Financial results earnings was $ 94.5 and! When you 're thinking strategically about the impact of remote working Road, 600. This morning, and i 'm curious in terms of growth parameters %.! Discussed on today 's call compare only the Third quarter of 2020 with the issuance of revenues. Of Head of Investor Relations 3460 Preston Ridge Road, suite 600,... The balance sheet mentioned, the business and the resulting boom in single-family housing on your non-transactional during! Annual NASDAQ earn-out we maintain our global reach through our partnership hotline 1-212-915-1768. Of Head of Investor Relations but what are your expectations as you know, what is --... The management services fee revenue Inc.... Jason Harbes -- Head of Investor Relations⦠Group! Investment sales volumes, as you just mentioned, the comment around equity compensation on a GAAP,... The -- and this, obviously, the Company leader in commercial real estate services, a. Leasing revenues were down 25.7 % due to strong GSE originations by 100 basis points market!
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