We expect leasing activity to remain challenged through the end of the pandemic as clients continue to defer long-term decision making. And, as we said before, because we have a disproportionate concentration in Sunbelt states and suburban markets, we're actually seeing some markets where occupancies are increasing and rents are going up. I don't expect any change. Okay, and then Barry, just one final question. Is this more buyback? What is your estimate of the current sort of additional gain that you could realize on your NASDAQ share that's not captured in book value right now? Join to Connect. Yes, Patrick, that's a great question. Richmond, VA 23218. 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." ... Jason Harbes-- Head of Investor Relations… So I think that was probably hurt a little bit more. It could be conversion to industrial, it could be a conversion to medical, it could be a conversion of multifamily. Those are, as we mentioned, those are areas that we feel we can grow from 25% of our revenue to 33% of our revenue. View the latest Newmark Group Inc. (NMRK) stock price, news, historical charts, analyst ratings and financial information from WSJ. But the preponderance of our portfolio actually matches very nicely with the performance of the market right now. And so that's just been very, very consistent across all markets across the country. Companies with e-commerce are growing, and they're looking for distribution centers and so forth. Due to strong GSE originations, gains from mortgage banking increased 26.1%. 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. Where, despite -- I wish everybody health and safety, and I look forward to speaking to you in the next quarter. And if we think we needed the capital, we could certainly go that route. Please go ahead. 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. No, I agree. Newmark Security plc currently has 468,732,316 ordinary shares of 1 pence in issue. And without a culture, you don't really have a business. But as soon as that discovery per se is there. 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. And subsequent to quarter end, we repaid an additional $100 million. Our more than 100,000 employees serve clients in over 100 countries, including over 90% of the Fortune 100. We remain committed to achieving permanent reductions in our expense base through technology and process improvements, which will drive margin expansion as the markets recover. We think earnings will be sequentially better in the fourth quarter when you take out the other income in the third quarter. As we stay focused on our working capital, we think that we continue to generate significant cash flow from the business. And we think we have a really still very good runway to do that. But you're seeing a lot of people now looking at their assets and saying, OK, if office is gonnabe slow for a while, what's my alternative method? Investor Relations. Harnessing the power of data, technology, and industry expertise, we bring And so we're encouraged by that. That will come with some level of expenses sequentially going Q3 to Q4. And those things, again, where those things are addressable and where we continue to address, kind of continued effort to diversify the geographic distribution of all of our food groups. We're at this -- we're sort of at a second wave of this pandemic. So areas like valuation advisory and the management services fee revenue. ?This brings us back to our pre-pandemic debt level. We've also -- in the last quarter, we've hired 30 industrial brokers. 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? So it remains to be a pretty substantial off-balance sheet asset for us. 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. Please go ahead. There is -- we're already seeing an enormous amount of activity on the multi-space, the industrial, the data centers, life science, etc., so some of that is coming back. Market data powered by FactSet and Web Financial Group. So, we're continuing to look at that. And what would you expect for 2021? Thanks very much. But what are you thinking about that right now? Do you have any thoughts around larger scale M&A or merger of equal type transactions? We expect our support and operational expenses to increase sequentially, consistent with an overall increase in activity. No, I think we can continue to generate cash flows from the business. Moving on to expenses. We see a lot of velocity from lenders that have portfolios that need to be revalued. Hey, good morning. And then last one for me, so your leasing revenues were down, I think it was 46% year-over-year. And we'll get into some more details on that. So, I think the improvement in the revenue line items will come, primarily in capital markets, as we move into the fourth quarter, Michael. And let me add my congratulations. And in areas where we typically, for example, in the Boston market, there's been substantial growth in the industrial, where in the past, that wasn't a heavy food group area. Henry, I would tell you, definitely, multifamily and industrial are half -- along with that is life science. And I think that we will be one of those winners that comes through this -- to the other side and in all of the categories, and do better. But we believe that CEOs are going to want to bring their office workers back to the office, better monitoring and more productivity. Sure. And then we'll let you know where we're at on the next call. If you buy back stock, it's obviously gonna be incremental to earnings, given where your shares are valued, but it will erode tangible book value. Thank you, and good morning. Great, thank you. Good morning, and thanks for joining us. Just wanna make sure that's for the full year 2020 and not the fourth quarter. 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. I would now like to turn the conference over to Mr. Jason Harbes, Head of Investor Relations. Okay. That's a little bit worse than some of your publicly traded competitors who have already reported. Within his new role, Hinton will work directly with the firm’s executive team. Got it. Can you comment on M&A in the space? Look, we have a good runway. So, we have sufficient capital on the balance sheet. I think there'll be some level of price capitulation in certain of the categories where people accept the relationship of the market to values, and we'll start repricing some of their assets. What are you seeing right now in leasing that would have maybe -- that you'd attribute that underperformance to? But still, at the end of the day, this is -- we're in the middle of the pandemic. Globally, there's still an enormous amount of capital available to invest. With respect to our capital return policy, we plan to update you on our next quarterly conference call. On the multifamily side, where we're seeing the strength predominantly is Sunbelt states in suburban markets. Newmark Group, Inc. ... Jason Edward Harbes-- Vice President of Investor Relations. Newmark Group has relationships with many of the world's largest commercial property owners, real estate developers and investors, as well as Fortune 500 and Forbes Global 2000 companies. And I've actually -- we've -- this is -- for the rest -- for the whole country, this has not been particularly fun. This compares to earnings of … Let me just -- let me add to that. But should we need more, NASDAQ monetization is always an option. So we have a very, very strong bench in the alternative: senior housing, self-storage, student housing, manufactured housing, data side, data and life science. 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. The platform we have built positions us to outperform as the markets recover. We maintained strong liquidity and credit metrics. 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. 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. Valuation and advisory has continued to perform quite well. Zacks Equity Research 10/07/2020 02:46 AM ET [Operator Instructions] Your next question comes from Henry Coffey with Wedbush. NASDAQ commoditization is always an option. Is this more dividend? You can sign up for additional subscriptions at any time. And if the alternative met itself, then they're gonna go to the market with that. And Jade, I would add -- sorry. Thank you, Gary, and good morning. You're hitting all the right strokes, doing all the right things. Hey, good morning. During the third quarter, the company repaid $75 million on our revolving credit facility. I'm now happy to turn the call over to our host, Barry Gosin, CEO of Newmark Group, Inc.? The Investor Relations website contains information about Newpark Resources, Inc.'s business for stockholders, potential investors, and financial analysts. And it's a critical piece of getting people back to the offices and back to what we were before. For starters, we made a conscious effort to be a leader in the alternatives. And then on the strength in multifamily and in industrial, can you call out maybe some of the regions where you're seeing particular strength in multifamily and industrial, or was that pretty broad-based across the entire footprint? Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. We have built a company that has remained strongly profitable during the quarter. It's just at what price or what cost. Thank you, Mike. Colliers International Group Inc. to announce Third Quarter results on October 27, 2020 Colliers International Group Inc. announced today that results for the third quarter ended September 30th, 2020 will be issued by press release on Tuesday October 27, 2020. Got it. The second question is, Mike, appreciate the comments on the $62 million of cash flow in the quarter. Contacts. So we feel really confident and comfortable. The CMU presententation will presents the Group’s 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. And we will adjust to whatever confidence. Operator, we would now like to open the call for questions.? We believe that the office is going to be here, and that the remote working will be a part of it. And faster, I think that, that segment of the market -- capital markets piece of the business will probably come back sooner than some of the -- confusion in the office leasing will take a little longer. Do you think those create value? Thank you, Jason. And we're very pleased with the velocity of sale transactions and the contribution of low interest rates has really helped us there. Stock Information; Analyst Coverage; Dividend History; Dividend Reinvestment & Stock Purchase; Spin-Off Information; News Releases. Jeff, I'll let you address valuations. 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. Cantor Fitzgerald. Your next question comes from Michael Funk with Bank of America. Total cash and cash equivalents were $273 million. So, we will continue to look for talent. With that, I'm happy to turn the call over to Mike. Newmark Group, Inc. (NASDAQ:NMRK)Q3 2020 Earnings CallNov 5, 2020, 10:00 a.m. We increased our year-to-date market share in investment sales and GSE originations by 100 basis points and 50 basis points, respectively. 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. 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? And because we retain the upside, the earn-out will generate $28 million of additional liquidity based on NASDAQ's September 30 closing price. I'm trying to think about the business going forward. Overview; FAQ; Fact Sheet; Investor Toolkit; Stock Information ... Newmark Group, Inc. Reports Third Quarter 2020 Financial Results. 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. And can you give a range of maybe what might be reasonable to expect in terms of growth parameters? First, thank you for the improved disclosure with the owners and the breakout, so that is -- that's helpful for a go-forward. Do you expect similar incremental margin to what you laid out in decremental margin a few quarters ago in the deck? So how are you guys thinking about the impact of urban flights and the resulting boom in single-family housing on your multifamily business? What are your thoughts about buying back stock? So Henry, if you remember, other than the 2020 tranche, which is now on our balance sheet, the remaining tranches through 2027 is off-balance sheet. We appreciate … So right now, we don't view that as a headwind or a structural challenge for the multifamily business. What is -- what's the impact of remote working? Guys, thank you very much. Michael J. Rispoli is Chief Financial Officer for Newmark Group, Inc. and Chief Financial Officer at Newmark & Company Real Estate, Inc. and Senior VP-Strategic Planning & Investor Relations … 2021, I think it's a little too early to really project that at this point, but we'll try and give you more color as we get into 2021. 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. Turning to our earnings. While capital markets revenues fell, we outperformed industry investment sales volumes, as measured by real capital analytics. NEW YORK – Newmark Group Co. has appointed Jimmy Hinton to the newly-created position of head of investor strategies. P.O. 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. I think we'll also have movement in the office sector as well. Shareholder Information. Description. Please go ahead. Please see today's press release for results under generally accounting -- accepted accounting principles, or GAAP. NYU Stern School of Business. We are focused on growth in businesses with solid margins and recurring revenue, such as global corporate services, property management, and valuation advisory. Our capital markets and debt volumes rebounded by 50% quarter-over-quarter. So there will be some de-densification, there will be some more remote working. We maintain our global reach through our partnership with Knight Frank, augmented by our international capital markets and global fundraising capabilities. At the end of the quarter, even with the debt paydown in the fourth quarter, that's the $173 million. So I think, as Barry mentioned, we're gonna get into a little bit more detail on our thoughts around the capital distribution policy on our next earnings call. After submitting your information, you will receive an email. We don't -- we're not as pessimistic as some of our peers. We just announced -- I mean, you saw $1.5 billion sale for a portfolio of self-storage. This concludes our question-and-answer session. Can you provide some color on your non-transactional revenue during the quarter? To receive notifications via email, enter your email address and select at least one subscription below. NewMarket Corporation. And we'll see how things play out over the next month or so, and we will provide a lot more detail on our capital return policy, whether it's dividends or stock buybacks, and how we think about allocation of capital in general. And it sounds like things are, as you said, getting better as far as certainly, capital markets, everyone loves industrial and multifamily. While we are not providing specific revenue or earnings guidance for 2020 due to continuing market uncertainty, we expect U.S. capital markets volumes to continue their sequential improvement, led by strength in multifamily and GSE originations. So that's a really positive aspect for us. Newmark offers a diverse array of integrated services and products designed to meet the full needs of both real estate investors/owners and occupiers. ?But otherwise, these revenues remained stable. So, I don't think anyone can make a final determination of what happens. So, we think there's -- we can ride that. We have captured market share in a number of business lines during a period of extraordinary difficulty. On October '19, we unveiled our new brand, Newmark, which reflects the organization that we've become, a world leader in commercial real estate services on the forefront of industry trends. 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. So that takes your tangible book value up to $3.75 or $4.00 a share, it's -- to be precise, it's $3.77. So we believe in talent, that is without question, that is not gonna change. 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. 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. 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