Walker & Dunlop Inc . (NYSE:WD) shares have touched a 52-week low, dipping to $87.02, signaling a period of bearish momentum for the company in the stock market. This latest price level reflects a notable decline from previous valuations, underscoring a challenging year for the real estate financing firm. Over the past year, Walker & Dunlop's stock has experienced a downward trajectory, with a 1-year change showing a decrease of 10.4%. This performance indicates investor caution, possibly due to market conditions or company-specific factors that have influenced the stock's movement within this 52-week period.
In other recent news, Walker & Dunlop reported strong third-quarter results for 2024, demonstrating robust growth. The company experienced a significant increase in transaction volume, rising 36% year-over-year to $11.6 billion, and a 33% growth in diluted earnings per share (EPS) to $0.85. Property sales also surged 44% to $3.6 billion, with Government-Sponsored Enterprise (GSE) loan activity closing at $3.5 billion.
Walker & Dunlop also reported being the second-largest HUD multifamily lender in 2024, with HUD lending volumes increasing over 200%. Despite a $3 million provision for credit losses, the company's at-risk portfolio remains strong at $61 billion. A quarterly dividend of $0.65 per share was approved, and the company ended Q3 with $180 million in cash.
In terms of future expectations, Walker & Dunlop targets mid-single to low-teens growth in diluted EPS, adjusted EBITDA, and adjusted core EPS for the full year. The company anticipates a decrease in net interest earnings due to a Federal funds rate cut. However, with high homeownership costs, multifamily properties are expected to remain in high demand. The company's servicing portfolio stands at $134 billion, generating stable recurring revenues. These are recent developments that have been reported.
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