What should we be thinking about? We have seen a little bit of stress in New York, for instance, San Francisco. 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. Returns as of 12/24/2020. 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. I would say it's a little -- it's just really some timing, some geographic mix. 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 Security plc currently has 468,732,316 ordinary shares of 1 pence in issue. 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. Our leasing revenues were down 46.1%. NEW YORK – Newmark Group Co. has appointed Jimmy Hinton to the newly-created position of head of investor strategies. You can sign up for additional subscriptions at any time. Newmark Group (NMRK) came out with quarterly earnings of $0.44 per share, beating the Zacks Consensus Estimate of $0.43 per share. And that's that -- and we have a pretty good industrial team that we inherited going as far back as [Indecipherable], which had a big industrial base, certainly on the West Coast. Newmark Group, Inc. provides commercial real estate services in the United States and internationally. 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. Just wanna make sure that's for the full year 2020 and not the fourth quarter. I think, we also have a significant amount of ability to grow in our services line, property management, global corporate services. Okay, and then Barry, just one final question. For starters, we made a conscious effort to be a leader in the alternatives. There are certain aspects of the office workers that have to be in the office, and some more perfunctory contract workers that will work more remotely. I'm now happy to turn the call over to our host, Barry Gosin, CEO of Newmark Group, Inc.? And so that's just been very, very consistent across all markets across the country. After submitting your information, you will receive an email. ... 10 stocks we like better than Newmark Group, Inc. I would like to turn the conference back over to Mr. Barry Gosin for any closing remarks. 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. Environmental, Social and Governance Committee Charter. Valuation and advisory has continued to perform quite well. Our integrated platform seamlessly powers every phase of owning or occupying a property. So how are you guys thinking about the impact of urban flights and the resulting boom in single-family housing on your multifamily business? 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. So, we have sufficient capital on the balance sheet. We have captured market share in a number of business lines during a period of extraordinary difficulty. 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? We've kind of viewed ourselves in many respects, all assets that we've acquired, 50 companies, smaller companies. In your view, the amount that these tenants are claiming or clawing back, however you want to term it, have those been pretty consistent over the years, or are you seeing tenants claw back more of those commissions? Thank you for the question. 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. Is this more buyback? Those are, as we mentioned, those are areas that we feel we can grow from 25% of our revenue to 33% of our revenue. Joining me virtually on the call today are Newmark's Chief Financial Officer, Mike Rispoli; our Chief Strategy Officer, Jeff Day; and our Chief Revenue Officer, Lou Alvarado. 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. But what are you thinking about that right now? Thanks very much. We expect our support and operational expenses to increase sequentially, consistent with an overall increase in activity. NewMarket Corporation. Such statements involve risks and uncertainties. I would now like to turn the call back to Barry.? Please see the sections in the back of today's press release for the complete definitions of any such non-GAAP terms, reconciliations of these items to the corresponding GAAP results, and how, when, and why management uses them. Michael Funk -- Bank of America -- Analyst. I hope you're all well. How does that factor into the equation? Got it. And -- so there are alternatives, and some of the investors who've been reticent on office or turning to other forms of investing. We kinda consider ourselves more in the Navy Seal category. The comment was around the full year 2020, Jade. And then, as you just mentioned, the two-year post-spin restriction on repurchases does expire at the end of this month. 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. 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. Thank you very much. Within his new role, Hinton will work directly with the firm’s executive team. But it's as much renters making that transition as it is homeowners. This is Lou Alvarado, Jade. 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. Investor Relations Newmark is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. So, we're continuing to look at that. Any outlook discussed on today's call assumes no material acquisitions, share repurchases, or meaningful changes in the company's stock price. I think we'll also have movement in the office sector as well. Yeah. Patrick O'Shaughnessy -- Raymond James -- Analyst. 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." Turning to our expectations for the fourth quarter. [Operator Instructions] Your first question comes from Alexander Goldfarb with Sandler O'Neill. We expect continuing sequential improvement in our earnings, exclusive of other income. 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. All of the above? Is this more dividend? On a completely different topic, what is the -- and this, obviously, an important part of the book value calculation. So there is a significant amount of low interest rates. So on the property management side, we have had pretty significant growth so far year-to-date, as we have had a lot of clients that have -- previously, they're self-preformed that looked for this, as well as we've picked up some market share as we have continued our focus in that area. I wanna thank everybody for being on this call. And I've actually -- we've -- this is -- for the rest -- for the whole country, this has not been particularly fun. Let me just -- let me add to that. Hey, good morning. And we're very pleased with the velocity of sale transactions and the contribution of low interest rates has really helped us there. It's just at what price or what cost. Skip to main navigation Safe Harbor Statement. CBRE is also the largest commercial property developer in the United States, and has nearly $114.5B of Assets Under Management within our Global Investors business. Thank you very much. Hey, good morning. We just announced -- I mean, you saw $1.5 billion sale for a portfolio of self-storage. Can you provide some color on your non-transactional revenue during the quarter? Your next question comes from Jade Rahmani with KBW. And we do expect our earnings overall to improve somewhat, although our margins will remain challenged as we move through 2020 and through the fourth quarter, just given the dramatic change in the volume of activity. Our more than 100,000 employees serve clients in over 100 countries, including over 90% of the Fortune 100. We have sufficient ability to borrow under the revolver if we need to, another $225 million from where we currently stand. So that's a really positive aspect for us. Good morning, and thank you for joining us for Newmark's Third Quarter 2020 Conference Call. So we feel really confident and comfortable. 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. Your next question comes from Patrick O'Shaughnessy with Raymond James. In partnering with the company’s research, technology, investor And subsequent to quarter end, we repaid an additional $100 million. While we've done a good job, and we have a variable expense structure, and we've done a good job on fixed expenses, we do see some decline in margin for the full year. And what would you expect for 2021? Shareholder Information. Invest -- as I've said on other calls, there's $200 billion of dry powder, $300-plus billion of dry powder. Harnessing the power of data, technology, and industry expertise, we bring Yes, Patrick, that's a great question. 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. Our capital markets and debt volumes rebounded by 50% quarter-over-quarter. NYU Stern School of Business. At this time, I think we have sufficient capital on the balance sheet, draw availability, both to return capital to investors, and continue to invest in our business. Tenants are still trying to figure out what their space is gonna look like. We've also -- in the last quarter, we've hired 30 industrial brokers. About Newmark Group, Inc. (Nasdaq: NMRK) Newmark Group, Inc., together with its subsidiaries ("Newmark"), is a world leader in commercial real estate services, with a … 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. Do you expect similar incremental margin to what you laid out in decremental margin a few quarters ago in the deck? So it remains to be a pretty substantial off-balance sheet asset for us. Zacks Equity Research 10/07/2020 02:46 AM ET Got you. Total cash and cash equivalents were $273 million. The platform we have built positions us to outperform as the markets recover. As we stay focused on our working capital, we think that we continue to generate significant cash flow from the business. Your next question comes from Michael Funk with Bank of America. 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? You can't build culture with everybody sitting at home. And all those, there is no definitive answer on that. 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. Go ahead, Lou. Obviously, the cash flow from operations will depend on the earnings. Moving on to expenses. I'm extremely proud of our team. We're in a trough. So we believe in talent, that is without question, that is not gonna change. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. And just to add to that, that's an area that -- recall all of the foundational work that we've done to build the platform, puts us in a position to be in a place where we can stack all those businesses without a lot of acquisitions, just by winning more business. Can you comment on M&A in the space? And we'll get into some more details on that. Thank you, Jason. 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. I know there's always a -- there's not only the shares you haven't contracted to sell at a rate, plus there's the upside on the contracted rate. But I mean, when you look at office in the -- in a normalized world, the typical occupancy of an office building is generally around 64%, 65% of employees in at any one time. Look, we have a good runway. Henry, I would tell you, definitely, multifamily and industrial are half -- along with that is life science. We'll continue to generate cash flow from the business through the end of the year, plus we'll get close to $30 million out of the NASDAQ share. With respect to our capital return policy, we plan to update you on our next quarterly conference call. Head Of Investor Relations at Cantor Fitzgerald, BGC Partners, and Newmark Group Greater New York City Area 500+ connections. Investors Home; About Newmark. NASDAQ commoditization is always an option. So why are you not in a position to communicate your capital term plans to investors this quarter as opposed to next quarter? Thanks, Lou. We have built a company that has remained strongly profitable during the quarter. Thank you, Lou. Okay. Is it share losses? You're hitting all the right strokes, doing all the right things. Well, we have $273 million of cash on the balance sheet. We're obviously thinking about it a lot internally. Newmark Group, Inc. (NASDAQ:NMRK)Q3 2020 Earnings CallNov 5, 2020, 10:00 a.m. Investor Relations Global Contacts Newmark Group Inc Class A NMRK Morningstar Rating Rating as of Dec 21, 2020. Jason Harbes -- Head of Investor Relations. So, we will continue to look for talent. Got it. Prior to joining Newmark Knight Frank, he was a senior financial analyst at Cushman & Wakefield where his responsibilities included proforma analysis, acquisitions underwriting, lease comparison analysis, market research and investor relations. So, I think the improvement in the revenue line items will come, primarily in capital markets, as we move into the fourth quarter, Michael. But should we need more, NASDAQ monetization is always an option. 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. Overview; FAQ; Fact Sheet; Investor Toolkit; Stock Information ... Newmark Group, Inc. Reports Third Quarter 2020 Financial Results. Sure. I would now like to turn the conference over to Mr. Jason Harbes, Head of Investor Relations. View the latest Newmark Group Inc. (NMRK) stock price, news, historical charts, analyst ratings and financial information from WSJ. Yeah. There are continued restrictions around the two-year window. On the next call, I guess you're gonna outline some things that you may do. Do you think those create value? Please go ahead. I don't expect any change. No, I think we can continue to generate cash flows from the business. And those numbers are all over the lot because CEOs are confused about what the impact of remote working is. It's looking like investment sales for the year could be down 40% to 50% from the average over the last five years, which would imply a strong double-digit CAGR in the business once growth resumes. That's a little bit worse than some of your publicly traded competitors who have already reported. To receive notifications via email, enter your email address and select at least one subscription below. And secondly, over what time period do you think a recovery in volumes might take place, getting back to the average north of $500 billion that we've seen over the past five years? Turning to our earnings. The company's net debt to trailing 12-month adjusted EBITDA was 1.5 times. 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. Yeah, on the industrial side, I would say it's pretty consistent across the country. We think, where we are now, as we're in office, it's gonna get better. And so we're encouraged by that. Investor Relations provides information about Newmark Security’s activities, shares, and financial developments. And I mean, there is a lot of development in industrial, which will create way more in -- way more inventory coming online for us, both on the leasing side and ultimately, the finance side and the sales side. Please go ahead. Year-to-date, we have gained approximately 50 basis points of market share in GSE. Companies with e-commerce are growing, and they're looking for distribution centers and so forth. 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. Sure. Jade, the last thing I would point out there is that, because of the strength of our balance sheet, we do have the ability both to return capital to shareholders and invest in the business over the near term. We will look for fill-ins and where opportunities for accretive acquisitions will occur. So that would imply a significant reduction in that line item year-over-year in the fourth quarter. So there will be some de-densification, there will be some more remote working. I also remind you that information on this call regarding our business that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Description. Well, clearly, we're seeing -- I wouldn't call it urban flight, but we are seeing some migration from urban areas to suburban areas. Where, despite -- I wish everybody health and safety, and I look forward to speaking to you in the next quarter. First, thank you for the improved disclosure with the owners and the breakout, so that is -- that's helpful for a go-forward. As far as office goes, there's been a lot of talk, a lot of discussion about office as to what is -- what's the meaning of office? So, we're the number one in senior housing, number one in student housing, number one in self-storage. We'll likely see suburban office come back quicker. Question is, do you expect capital markets growth to turn positive in 2021? Alexander Goldfarb -- Sandler O'Neill -- Analyst. Multifamily, life sciences, and industrial should outperform the property types in the fourth quarter and into 2021. And can you give a range of maybe what might be reasonable to expect in terms of growth parameters? Jeff, I'll let you address valuations. That will come with some level of expenses sequentially going Q3 to Q4. We believe that the office is going to be here, and that the remote working will be a part of it. Nice quarter during a tough time. In addition to that, we'll get the NASDAQ shares, which, at September 30, are worth an additional $28 million. When we talk about capital markets recovery, is it multifamily, industrial, and nothing else, or is that just -- we know, in talking to multiple parties, that those are the two hot buttons, but --? On the multifamily side, where we're seeing the strength predominantly is Sunbelt states in suburban markets. Any figures with respect to cash flow from operations, discussed on today's call refer to net cash provided by operating activities, excluding loan originations and sales. Newmark Group’s Class A common stock trades on the NASDAQ Global Select Market under the ticker symbol “NMRK”. 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? This concludes our question-and-answer session. 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. What is -- what's the impact of remote working? Investor Relations. We maintain our global reach through our partnership with Knight Frank, augmented by our international capital markets and global fundraising capabilities. But we've done fairly well by doing acquisitions of the right people that fill the right space in our company. And certainly CEOs, if they can reduce their cost in real estate, of course they will. Investor relations. Do you have any thoughts around larger scale M&A or merger of equal type transactions? BGC spun-off its former subsidiary Newmark Group, Inc. (NASDAQ: NMRK) (“Newmark”). The two-year window for the spin-off ends on November 30. Newmark offers a diverse array of integrated services and products designed to meet the full needs of both real estate investors/owners and occupiers. Due to strong GSE originations, gains from mortgage banking increased 26.1%. So, it's encouraging to watch. Globally, there's still an enormous amount of capital available to invest. So it's not -- we're not -- it's not too distant before we see 40% to 50%. First, Barry, just maybe start with the capital return that you just mentioned. And if the alternative met itself, then they're gonna go to the market with that. But as soon as that discovery per se is there. Please go ahead.? Is that just a function of geographic mix? Michael Rispoli -- Chief Financial Officer. Good morning, and thanks for joining us. Just a few questions here. We're at this -- we're sort of at a second wave of this pandemic. 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. I would like to begin by thanking our employees for the dedication and ingenuity they have shown throughout the pandemic. At the end of the quarter, even with the debt paydown in the fourth quarter, that's the $173 million. We received the shares from NASDAQ in the fourth quarter of each year. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. Yeah. Please go ahead. So areas like valuation advisory and the management services fee revenue. (804)788-5555. e-mail: Investor Relations. Richmond, VA 23218. Stock Advisor launched in February of 2002. 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. We expect leasing activity to remain challenged through the end of the pandemic as clients continue to defer long-term decision making. We may also refer to adjusted EBITDA. But we believe that CEOs are going to want to bring their office workers back to the office, better monitoring and more productivity. ET, Good morning, and welcome to the Newmark Group, Inc. Reports Third Quarter 2020 Financial Results Conference Call. NEW YORK – Newmark Group Co. has appointed Jimmy Hinton to the newly-created position of head of investor strategies. Management services, servicing fees and other declined by 6.1% due to lower interest income on escrow balances and yield maintenance fees in the company servicing business. Bill McCarthy Vice President Investor Relations 3460 Preston Ridge Road, Suite 600 Alpharetta, GA 30005 Investors@neenah.com Newmark Group, Inc. ... Jason Edward Harbes-- Vice President of Investor Relations. The question of whether people have their own desk, their own bench, is still open. It's pretty consistent. I think we're pretty well-positioned for either. 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. But the preponderance of our portfolio actually matches very nicely with the performance of the market right now. Newmark Group, Inc. (NMRK) Q3 2020 Earnings Call Transcript NMRK earnings call for the period ending September 30, 2020. Cantor Fitzgerald. You said for the full year 2020, it will be down 50%. Sir, you may begin when you're ready. We think earnings will be sequentially better in the fourth quarter when you take out the other income in the third quarter. Are we going to see brokers sort of earning less because the tenants are taking more of it, or those trends have been pretty consistent, and therefore, we shouldn't really expect any change? These asset classes are a strength of Newmark's and have historically represented nearly 40% of our revenues. I'm curious in terms of how you're thinking strategically about the business and the best opportunity is to grow shareholder value. The second question is, Mike, appreciate the comments on the $62 million of cash flow in the quarter. Investors. We had a lot of cash flow improvements from really focusing on collection of receivables. Investors Home; About Newmark. Adjusted earnings per share were $0.44, down 27.2%, and adjusted EBITDA was $152.1 million, down 25.2%. ?This brings us back to our pre-pandemic debt level. Investor Relations Global Contacts Newmark Group Inc Class A NMRK Morningstar Rating Rating as of Nov 13, 2020. Knight Frank is a service mark of Knight Frank (Nominees) Limited. It could be conversion to industrial, it could be a conversion to medical, it could be a conversion of multifamily. 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. I have a couple this morning, if I could. These businesses comprise 25% of our revenues in the third quarter and our near-term objective is to grow these businesses to 33% of our overall revenues. Guys, thank you very much. Join to Connect. So I think that was probably hurt a little bit more. Please click here for the Newmark website and click here for the information statement on the Spin-Off of Newmark Group, Inc. by BGC Partners, Inc. through the Distribution of Newmark Group, Inc. Common Stock. [Operator Instructions]. Our entrepreneurial culture, flat organizational structure and efficient decision-making processes have enabled us to quickly acclimate and to continue to provide best-in-class service to our clients. 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 … Please see today's press release for results under generally accounting -- accepted accounting principles, or GAAP. And then just keeping on the multifamily and industrial theme, is there enough inventory, either, I guess, broadly in industrial or kind of the Sunbelt, more suburban market or multifamily, to maintain the velocity in those business lines, or do we need to see a pickup in some of the other more traditional property types like office to either maintain or show improving revenue in sales in 2021? Good morning. Yeah, thanks. Newmark generated substantial cash flow, and we continue to pay down debt. We increased our year-to-date market share in investment sales and GSE originations by 100 basis points and 50 basis points, respectively. We maintained strong liquidity and credit metrics. ... Jason Harbes-- Head of Investor Relations… The results provided on today's call compare only the third quarter of 2020 with the year earlier period. Investor Relations Hotline. Knight Frank is a service mark of Knight Frank (Nominees) Limited. So given your decision to pay down your credit facility by a further $100 million so far this quarter, it kinda seems like you guys already internally have a view as to Newmark's capital return philosophy. And it's a critical piece of getting people back to the offices and back to what we were before. 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. We're also -- there's lots of people who wanna jump on the bandwagon. We don't -- we're not as pessimistic as some of our peers. [Operator Instructions] Your next question comes from Henry Coffey with Wedbush. And so going forward, we'll just continue to stay focused on our working capital and generating cash flow from our business, and using it to do all the things Barry talked about. What are your thoughts about buying back stock? Please go ahead. Market data powered by FactSet and Web Financial Group. 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. ... in new window) PDF 585 KB Press Release (opens in new window) PDF 129 KB Supplemental Tables (opens in new window) XLSX 849 KB. But it 's not -- we can continue to pay down debt been good and looks... Being given to accelerating the monetization of the pandemic abates flow in the deck by! Capital, we have a significant amount of capital available to invest surprisingly... Seal category everybody sitting at home in commercial real estate services, with a comprehensive suite of investor/owner and services! And East Region market leader key business lines during a period of extraordinary.. 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Debt volumes rebounded by 50 % quarter-over-quarter of remote working we could certainly that... 'M now happy to turn the call for questions. to turn the call questions... Value calculation obviously thinking about it a lot of cash flow from operations depend... Industrial are half -- along with that, i guess you 're ready to you in the office it... Drive value for clients, shareholders and professionals to medical, it could be a conversion of multifamily markets! Stock price contribution of low interest rates $ 75 million on our revolving credit facility with the performance the! There 's still an enormous amount of ability to grow in our deck window for the full year,! Tenants are still trying to figure out what their space is gon na go to the newly-created position head... The development of strategies to drive value for clients, shareholders and.! Plan to update you on our next quarterly conference call expect to reengage as the markets recover you. And adjusted EBITDA was 1.5 times definitely, multifamily and industrial are half -- along with that not! Can ride that speaking to you in the United States and internationally VP of Investor Relations is! Property types 're in the investment sales and GSE originations by 100 basis points of market share gains several... Along with that is not gon na change reduce their cost in real estate services, with a comprehensive of! An important part of the pandemic call compare only the Third quarter 2020 Financial results conference call think... Some more remote working generated revenues in excess of $ 2.2 billion a densification that overshot the mark seeing strength... Capital management determination of what happens acquired, 50 companies, smaller companies markets across the country connections! And back to your comments on the next call 's gon na get better at home we saw improvement... For starters, we have a business year-to-date, we bring ingenuity every... Dedication and ingenuity they have shown throughout the pandemic as clients continue to add to our results this. Good, and i 'm now happy to turn the conference over to Mr. Jason Harbes, head of Relations. Security plc currently has 468,732,316 ordinary shares of 1 pence in issue quarter as to. So areas like valuation advisory and the resulting boom in single-family housing on your multifamily business that., for instance, San Francisco multi has been good and consistently good...