What Happened?
Shares of real estate services firm Newmark (NASDAQ: NMRK) jumped 4.4% in the afternoon session after the company brokered the $425 million sale of The Shops at Skyview, a large retail center in Queens, New York.
The commercial real estate services firm represented the seller, Perform Properties, in the major transaction. In addition to arranging the sale, a team from Newmark also secured a $289 million loan for the buyer to purchase the property. The 555,000-square-foot center, which included well-known tenants like BJ’s Wholesale Club, Target, and Nordstrom Rack, was 97 percent leased at the time of the sale. The successful closing of a deal of this size, where Newmark played a key role in both the sale and the financing, likely boosted investor confidence in the company's business performance.
After the initial pop the shares cooled down to $17.52, up 4.4% from previous close.
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What Is The Market Telling Us
Newmark’s shares are somewhat volatile and have had 13 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 11 months ago when the stock gained 12.1% on the news that the company reported strong fourth quarter 2024 results that blew past analysts' revenue expectations, driven by its Investment Sales division. In addition, its EPS and EBITDA beat. On the other hand, its full-year EBITDA guidance missed. Still, this quarter had some key positives.
Newmark is up 3.3% since the beginning of the year, but at $17.52 per share, it is still trading 10.5% below its 52-week high of $19.58 from September 2025. Investors who bought $1,000 worth of Newmark’s shares 5 years ago would now be looking at an investment worth $2,471.
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