Marcus & Millichap (NYSE:MMI) Stock Rating Upgraded by Wall Street Zen

Marcus & Millichap (NYSE:MMI) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings downgraded shares of Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, Marcus & Millichap presently has a consensus rating of “Sell” and an average price target of $28.00.

Marcus & Millichap Stock Performance

Shares of NYSE MMI opened at $31.50 on Friday. The firm has a fifty day moving average of $30.59 and a 200 day moving average of $28.27. The firm has a market cap of $1.19 billion, a PE ratio of 85.12 and a beta of 1.23. Marcus & Millichap 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 data on Thursday, August 6th. The real estate investment trust reported $0.10 earnings per share (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 for the quarter, compared to the consensus estimate of $194.30 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First National Bank of Omaha acquired a new stake in Marcus & Millichap during the 2nd quarter worth $771,000. Pzena Investment Management LLC acquired a new stake in shares of Marcus & Millichap in the second quarter valued at about $66,735,000. BlackRock Inc. acquired a new stake in shares of Marcus & Millichap in the second quarter valued at about $112,801,000. Deutsche Bank AG purchased a new position in shares of Marcus & Millichap in the second quarter worth about $2,594,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Marcus & Millichap in the second quarter worth about $5,154,000. Hedge funds and other institutional investors own 62.78% of the company’s stock.

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.