LendingClub (LC, Financial) has confirmed an agreement to acquire a substantial property at 88 Kearny Street in San Francisco for $74.5 million. This 233,887 square foot building will become the company's headquarters starting in Spring 2026. The purchase is seen as a strategic use of the bank's balance sheet, with the expectation that the property will appreciate in value over time.
The deal is subject to routine closing conditions and is anticipated to be finalized in the second quarter. LendingClub plans to relocate to 100,000 square feet within the Kearny Street location once its current lease at 595 Market Street concludes in Spring 2026. The remaining space in the building will be leased to a mix of both new and existing tenants.
LendingClub has fully financed the $74.5 million acquisition using its own balance sheet. The company does not foresee any significant impact on its financial performance as a result of this purchase.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 9 analysts, the average target price for LendingClub Corp (LC, Financial) is $17.50 with a high estimate of $20.00 and a low estimate of $14.00. The average target implies an upside of 84.21% from the current price of $9.50. More detailed estimate data can be found on the LendingClub Corp (LC) Forecast page.
Based on the consensus recommendation from 10 brokerage firms, LendingClub Corp's (LC, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for LendingClub Corp (LC, Financial) in one year is $9.24, suggesting a downside of 2.74% from the current price of $9.5. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the LendingClub Corp (LC) Summary page.
