Russell Investments Group Ltd. Boosts Stake in Marcus & Millichap, Inc. $MMI

Russell Investments Group Ltd. lifted its holdings in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 8.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 168,736 shares of the real estate investment trust’s stock after purchasing an additional 12,717 shares during the period. Russell Investments Group Ltd. owned about 0.43% of Marcus & Millichap worth $5,813,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Reinhart Partners LLC. grew its holdings in shares of Marcus & Millichap by 13.3% during the 1st quarter. Reinhart Partners LLC. now owns 2,162,935 shares of the real estate investment trust’s stock valued at $74,513,000 after purchasing an additional 253,444 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Marcus & Millichap by 0.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 407,137 shares of the real estate investment trust’s stock valued at $14,026,000 after purchasing an additional 3,577 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Marcus & Millichap by 1.2% during the 4th quarter. Northern Trust Corp now owns 248,750 shares of the real estate investment trust’s stock valued at $9,517,000 after purchasing an additional 2,858 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Marcus & Millichap by 25.7% during the 1st quarter. Harbor Capital Advisors Inc. now owns 191,689 shares of the real estate investment trust’s stock valued at $6,604,000 after purchasing an additional 39,235 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Marcus & Millichap by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 119,789 shares of the real estate investment trust’s stock valued at $4,127,000 after purchasing an additional 3,095 shares during the last quarter. Institutional investors own 62.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wall Street Zen lowered shares of Marcus & Millichap from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Citizens Jmp initiated coverage on shares of Marcus & Millichap in a report on Monday, July 21st. They issued a “market perform” rating on the stock. Finally, JMP Securities initiated coverage on shares of Marcus & Millichap in a report on Monday, July 21st. They issued a “market perform” rating on the stock. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $30.00.

Marcus & Millichap Stock Down 0.4%

Shares of Marcus & Millichap stock opened at $30.8760 on Thursday. The firm has a market cap of $1.20 billion, a PE ratio of -99.60 and a beta of 1.27. Marcus & Millichap, Inc. has a 12-month low of $27.61 and a 12-month high of $42.80. The company’s fifty day simple moving average is $31.04 and its two-hundred day simple moving average is $32.44.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.24). The firm had revenue of $172.28 million during the quarter, compared to the consensus estimate of $172.60 million. Marcus & Millichap had a negative return on equity of 1.99% and a negative net margin of 1.69%.

Marcus & Millichap Dividend Announcement

The business also recently announced a half year 25 dividend, which will be paid on Monday, October 6th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a dividend yield of 160.0%. Marcus & Millichap’s payout ratio is presently -161.29%.

Marcus & Millichap Profile

Marcus & Millichap, Inc engages in the provision of investment real estate brokerage services. It specializes in commercial real estate investment sales, property financing, research, and advisory services. The company was founded by George M. Marcus and William A. Millichap in 1971 and is headquartered in Calabasas, CA.