Linden Thomas Advisory Services LLC Acquires 2,534 Shares of Marcus & Millichap, Inc. $MMI

Linden Thomas Advisory Services LLC raised its stake in Marcus & Millichap, Inc. (NYSE:MMI) by 42.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,451 shares of the real estate investment trust’s stock after buying an additional 2,534 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Marcus & Millichap were worth $260,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MMI. AlphaQuest LLC lifted its holdings in shares of Marcus & Millichap by 410.6% during the first quarter. AlphaQuest LLC now owns 2,931 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 2,357 shares during the period. Strs Ohio bought a new stake in Marcus & Millichap in the first quarter valued at $145,000. MQS Management LLC bought a new stake in Marcus & Millichap in the first quarter valued at $210,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Marcus & Millichap during the first quarter worth about $279,000. Finally, Inspire Investing LLC increased its position in shares of Marcus & Millichap by 28.0% during the second quarter. Inspire Investing LLC now owns 12,847 shares of the real estate investment trust’s stock worth $395,000 after acquiring an additional 2,807 shares in the last quarter. Institutional investors and hedge funds own 62.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MMI. Wells Fargo & Company cut their price target on shares of Marcus & Millichap from $30.00 to $29.00 and set an “underweight” rating on the stock in a report on Friday. Citizens Jmp began coverage on shares of Marcus & Millichap in a research note on Monday, July 21st. They set a “market perform” rating on the stock. Wall Street Zen cut shares of Marcus & Millichap from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Marcus & Millichap in a research report on Wednesday, October 8th. Finally, JMP Securities started coverage on shares of Marcus & Millichap in a research report on Monday, July 21st. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Marcus & Millichap currently has an average rating of “Reduce” and an average price target of $29.00.

Marcus & Millichap Trading Down 0.6%

MMI opened at $31.19 on Tuesday. Marcus & Millichap, Inc. has a 12-month low of $27.35 and a 12-month high of $42.80. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -100.61 and a beta of 1.28. The company’s 50 day moving average is $30.73 and its 200 day moving average is $30.60.

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

Marcus & Millichap Announces Dividend

The business also recently announced a half year 25 dividend, which was paid on Monday, October 6th. Stockholders of record on Monday, September 15th were issued a $0.25 dividend. This represents a dividend yield of 156.0%. The ex-dividend date of this dividend was Monday, September 15th. Marcus & Millichap’s payout ratio is -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.