90,666 Shares in Marcus & Millichap, Inc. $MMI Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. bought a new stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 90,666 shares of the real estate investment trust’s stock, valued at approximately $2,411,000. Pacer Advisors Inc. owned 0.24% of Marcus & Millichap at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Bank of America Corp DE grew its position in Marcus & Millichap by 7.9% in the 1st quarter. Bank of America Corp DE now owns 49,171 shares of the real estate investment trust’s stock valued at $1,307,000 after acquiring an additional 3,606 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Marcus & Millichap by 22.6% during the first quarter. Royal Bank of Canada now owns 36,281 shares of the real estate investment trust’s stock worth $964,000 after purchasing an additional 6,688 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of Marcus & Millichap by 348.4% during the first quarter. Quantinno Capital Management LP now owns 51,913 shares of the real estate investment trust’s stock valued at $1,380,000 after purchasing an additional 40,335 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Marcus & Millichap during the first quarter valued at $1,809,000. Finally, Sei Investments Co. grew its holdings in shares of Marcus & Millichap by 99.7% in the first quarter. Sei Investments Co. now owns 163,766 shares of the real estate investment trust’s stock worth $4,355,000 after purchasing an additional 81,743 shares during the last quarter. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Stock Performance

NYSE MMI opened at $31.50 on Friday. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 85.12 and a beta of 1.23. The company’s 50-day simple moving average is $30.59 and its two-hundred day simple moving average is $28.26. Marcus & Millichap, Inc. has a one year low of $24.43 and a one year high of $33.62.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported $0.10 EPS for the quarter, beating the consensus estimate of $0.03 by $0.07. Marcus & Millichap had a net margin of 1.77% and a return on equity of 2.97%. The business had revenue of $202.91 million during the quarter, compared to analyst estimates of $194.30 million.

Marcus & Millichap Announces Dividend

The business also recently announced a dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 15th. This represents a yield of 163.0%. Marcus & Millichap’s dividend payout ratio is currently -5,000.00%.

Wall Street Analysts Forecast Growth

MMI has been the topic of several recent analyst reports. Wall Street Zen raised shares of Marcus & Millichap from a “hold” rating to a “strong-buy” rating in a research note on Saturday. 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. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell” and a consensus price target of $28.00.

Marcus & Millichap Company Profile

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.