Jennison Associates LLC Buys 243,281 Shares of Marcus & Millichap, Inc. (NYSE:MMI)

Jennison Associates LLC grew its stake in Marcus & Millichap, Inc. (NYSE:MMI) by 109.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 466,327 shares of the real estate investment trust’s stock after purchasing an additional 243,281 shares during the quarter. Jennison Associates LLC owned about 1.22% of Marcus & Millichap worth $20,369,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MMI. SG Americas Securities LLC increased its stake in shares of Marcus & Millichap by 209.6% in the 3rd quarter. SG Americas Securities LLC now owns 16,160 shares of the real estate investment trust’s stock worth $474,000 after acquiring an additional 10,941 shares in the last quarter. Handelsbanken Fonder AB purchased a new stake in Marcus & Millichap during the 3rd quarter valued at about $219,000. Reinhart Partners LLC. grew its position in Marcus & Millichap by 4.3% during the 3rd quarter. Reinhart Partners LLC. now owns 1,324,301 shares of the real estate investment trust’s stock valued at $38,855,000 after purchasing an additional 54,163 shares during the last quarter. Cambiar Investors LLC grew its position in Marcus & Millichap by 9.3% during the 3rd quarter. Cambiar Investors LLC now owns 70,732 shares of the real estate investment trust’s stock valued at $2,075,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Marcus & Millichap by 35.4% during the 3rd quarter. Victory Capital Management Inc. now owns 17,997 shares of the real estate investment trust’s stock valued at $528,000 after purchasing an additional 4,706 shares during the last quarter. 62.78% of the stock is currently owned by institutional investors.

Marcus & Millichap Price Performance

MMI opened at $32.24 on Friday. The company’s 50 day moving average is $33.94 and its 200 day moving average is $34.93. Marcus & Millichap, Inc. has a 12-month low of $26.81 and a 12-month high of $44.24.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings data on Friday, February 16th. The real estate investment trust reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.01. Marcus & Millichap had a negative net margin of 5.27% and a negative return on equity of 5.16%. The company had revenue of $166.24 million for the quarter.

Marcus & Millichap Announces Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Friday, April 5th. Stockholders of record on Tuesday, March 12th were given a dividend of $0.25 per share. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, March 11th. Marcus & Millichap’s payout ratio is currently -56.18%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Marcus & Millichap from a “hold” rating to a “sell” rating in a research report on Monday, March 25th.

Insider Activity

In other news, COO John David Parker sold 9,716 shares of Marcus & Millichap stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $32.83, for a total transaction of $318,976.28. Following the sale, the chief operating officer now owns 12,376 shares in the company, valued at $406,304.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, COO Richard D. Matricaria sold 9,500 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $33.32, for a total transaction of $316,540.00. Following the completion of the sale, the chief operating officer now directly owns 7,078 shares of the company’s stock, valued at $235,838.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John David Parker sold 9,716 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $32.83, for a total transaction of $318,976.28. Following the sale, the chief operating officer now directly owns 12,376 shares of the company’s stock, valued at $406,304.08. The disclosure for this sale can be found here. Company insiders own 39.20% of the company’s stock.

Marcus & Millichap Profile

Marcus & Millichap, Inc, an investment brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets.