Walker & Dunlop (WD) could see a slow start to the year with interest rate volatility limiting demand following the company's outlook, Wedbush said in a report Tuesday.
The report said the commercial real estate finance company saw a meaningful amount of its clients with assets secured by a floating rate loan that want to convert to a fixed rate loan in Q4.
In order to convert to that fixed loan, many of the transactions require a cash-in refinancing from the current borrower or partnership structure, the note said.
"Many borrowers were not willing to put more cash into those deals during F4Q24 and that hesitancy has continued thus far in F1Q25," the report said.
"As a result of that commentary and WD's indication that the GSEs may be off to the typical slow start for the year, we are lowering our EPS and revenue estimates," Wedbush said.
Wedbush cut its price target to $105 from $115 while keeping its neutral rating.
Price: 84.72, Change: -1.72, Percent Change: -1.99
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。