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    Mitchell Germain

    Research Analyst at Citizens Capital Markets and Advisory

    Mitchell Germain is the Managing Director of Real Estate Research at Citizens Capital Markets and Advisory, where he specializes in equity research focused on Real Estate Investment Trusts (REITs) and commercial property companies. Over his two-decade career, Germain has covered major REITs and real estate firms, delivering in-depth market analysis and strategic insights that have guided institutional investors, though specific quantitative investment performance metrics and company rankings are not publicly disclosed. He began his financial services career after earning a BS in Accounting from Boston University, with prior senior roles at JMP Securities, Modiv, Bank of America, RBC Capital Markets, UBS, JP Morgan, ING Clarion, and SunDance Advisers before joining Citizens in January 2022. Germain holds a strong foundation in real estate finance and is recognized for his analytical expertise and commitment to sustainable investment, though his detailed securities licenses and FINRA credentials are not specified in available public records.

    Mitchell Germain's questions to NEWMARK GROUP (NMRK) leadership

    Mitchell Germain's questions to NEWMARK GROUP (NMRK) leadership • Q2 2025

    Question

    Mitchell Germain of Citizens inquired about the progress of Newmark's expansion in Germany, the sustainability of its strong capital markets activity, and the company's capital allocation priorities between M&A and share buybacks.

    Answer

    CEO Barry Gosin explained that the German business, launched a year ago, is set for a full launch in October with 70 brokers signed. He expressed confidence in the sustainability of capital markets activity, citing significant runway in Europe and Asia. CFO Michael Rispoli stated that while buybacks remain an option, the focus for the second half of the year will pivot to M&A, particularly in management services. He noted the stock remains undervalued based on its adjusted free cash flow yield.

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