Marcus & Millichap, Inc. $MMI Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its position in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 15.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 219,700 shares of the real estate investment trust’s stock after selling 40,500 shares during the period. Renaissance Technologies LLC’s holdings in Marcus & Millichap were worth $5,842,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MMI. Kestra Advisory Services LLC purchased a new position in shares of Marcus & Millichap in the fourth quarter valued at $30,000. Caitong International Asset Management Co. Ltd increased its stake in Marcus & Millichap by 79,800.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,598 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 1,596 shares during the period. State of Wyoming purchased a new stake in Marcus & Millichap during the 1st quarter worth $64,000. Quantbot Technologies LP acquired a new position in Marcus & Millichap in the 2nd quarter worth $137,000. Finally, Strs Ohio acquired a new position in Marcus & Millichap in the 1st quarter worth $145,000. 62.78% of the stock is owned by institutional investors and hedge funds.

Marcus & Millichap Price Performance

NYSE:MMI opened at $31.17 on Thursday. The firm has a market capitalization of $1.18 billion, a P/E ratio of -3,113.59 and a beta of 1.23. The business has a 50 day simple moving average of $30.46 and a 200 day simple moving average of $28.21. Marcus & Millichap, Inc. has a 12-month low of $24.43 and a 12-month high of $33.62.

Marcus & Millichap (NYSE:MMI) last issued its earnings results on Thursday, May 7th. The real estate investment trust reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). Marcus & Millichap had a positive return on equity of 0.43% and a negative net margin of 0.08%.The firm had revenue of $171.47 million for the quarter, compared to analyst estimates of $162.20 million. During the same period last year, the company earned ($0.11) earnings per share. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis.

Marcus & Millichap Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be issued a $0.25 dividend. This represents a dividend yield of 163.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Marcus & Millichap’s dividend payout ratio (DPR) is -5,000.00%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings cut shares of Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Wall Street Zen lowered shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell” and an average price target of $28.00.

About Marcus & Millichap

Marcus & Millichap (NYSE: MMI) is a leading commercial real estate brokerage firm focused on investment sales, financing, research and advisory services. Founded in 1971 by George M. Marcus and William A. Millichap, the company has grown to specialize in the marketing of multifamily, retail, office, industrial, hospitality and other commercial property types. Through an extensive network of investment specialists, Marcus & Millichap connects property owners and investors with tailored transactions across a range of asset classes.

The firm offers comprehensive capital markets solutions, including debt and equity placement, structured finance, and customized financing programs.