Walker & Dunlop, Inc. - WD STOCK NEWS

Walker & Dunlop (NYSE: WD) announced a minority investment in Fortress Technology Solutions, a real estate tech firm specializing in property management software for multifamily properties. This investment aims to enhance portfolio performance and offer comprehensive solutions to multifamily owners and operators. With approximately 22 million apartment units in the U.S., Walker & Dunlop targets $5 billion in annual loan originations by 2025, pairing its lending capabilities with Fortress's innovative software. This collaboration seeks to improve insights into debt portfolios and refinancing opportunities.

Zelman & Associates, a Walker & Dunlop company, announced the appointment of Philip Martin as Managing Director. With nearly 30 years of expertise, Martin aims to enhance rental housing research and collaborate on new insights for clients. CEO Ivy Zelman highlighted that his joining will integrate technology and improve research outputs. Walker & Dunlop aims to leverage this expansion to enhance its advisory services. The firm, which focuses on the U.S. housing sector, has established a solid reputation among institutional investors.

Walker & Dunlop reported a record total transaction volume of $18.5 billion in Q3 2021, up 120% from Q3 2020. Revenues reached $346.3 million, a 40% increase year-over-year, yielding a net income of $71.7 million and diluted EPS of $2.21. The adjusted EBITDA also hit a record at $72.4 million, up 60%. The company completed the acquisition of Zelman & Associates and agreed to acquire Alliant Capital. A quarterly dividend of $0.50 per share was declared for Q4 2021.

Walker & Dunlop announced the successful sale of The Co-Op at the Med Center, a 200-unit garden-style property in Houston, Texas, initially built as a hotel and converted into multifamily housing in 2018. The buyer, EAS Houston LLC, is set to enhance the property with significant upgrades, targeting increased rent growth and value appreciation due to its prime location near the Texas Medical Center. Walker & Dunlop's leadership in multifamily real estate is highlighted, with $4.74 billion in property sales volume in H1 2021 and a strong presence in the market.

Walker & Dunlop announced the expansion of its multifamily property sales team in Nashville by adding Managing Directors Russ Oldham and Brett Kingman. This strategic move enhances the existing team led by Telly Fathaly, who will assume a key leadership role in Atlanta. The firm aims to grow its annual multifamily property sales volume to over $25 billion by 2025. In 2021, Walker & Dunlop reported $4.7 billion in property sales volume in the first half, a 117% increase from 2020, and was a top provider in the multifamily lending market with $31 billion in transactions in 2020.

Walker & Dunlop has expanded into Charleston, South Carolina, hiring Walker Layne as Senior Director to enhance its Capital Markets group. Layne will focus on sourcing equity capital and debt financing for commercial real estate. The company aims for $65 billion in debt financing by 2025, building on its strong performance with $11 billion in debt volume in the first half of 2021, reflecting a 93% year-over-year increase. This strategic move supports Walker & Dunlop's growth in a healthy commercial real estate market.

Walker & Dunlop completed a $134 million sale of Griffis Marston Lake, a 332-unit multifamily community in Littleton, Colorado. This property is expected to perform strongly due to its renovation program, potential for rent growth, and limited new construction in the area. The sale was brokered by a team including Dan Woodward and David Potarf, with financing arranged through Fannie Mae for the buyer, Kennedy Wilson. Walker & Dunlop has reported a $4.7 billion sales volume in the first half of 2021, a 117% increase year-over-year.

Walker & Dunlop announced a major role in securing $300 million in construction financing for The Mather, a luxury Life Plan Community in Tysons, Virginia. The project will consist of 300 independent living apartments and various support facilities, with the first phase expected to open in early 2024. Despite pandemic uncertainties, the project has demonstrated strong pre-sales momentum. The construction will be strategically located near the metro and shopping amenities, focusing on sustainability and community living.

Walker & Dunlop, a leading multifamily capital provider, will release its third-quarter 2021 results on November 4, 2021, before market opening. The earnings webcast is scheduled for the same day at 8:30 a.m. Eastern time. Investors can access the webcast via phone or online, with a replay available afterward. The company continues to be a significant player in commercial real estate financing, focusing on various sectors and emphasizing its commitment to diversity and community impact.