It's a challenging market for commercial real estate, but Walker & Dunlop's (NYSE: WD) most recent quarter provided a reminder to investors about the company's ability to manage through the cycle.

Shares of Walker & Dunlop climbed as much as 11.4% on Thursday, and were up 7.5% as of 10:30 a.m. ET, after the company easily exceeded fourth-quarter earnings expectations and raised its cash payout to investors.

Walker & Dunlop is one of the largest providers of capital to the commercial real estate industry, with a big focus on multifamily housing projects. The commercial real estate industry has been in the headlines for all the wrong reasons lately, and multifamily in particular has come under scrutiny due to problems at New York Community Bancorp.

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Source Fool.com