Marcus & Millichap (NYSE:MMI) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Marcus & Millichap (NYSE:MMI) from a buy rating to a hold rating in a report published on Saturday.

MMI has been the topic of a number of other reports. Wells Fargo & Company dropped their target price on Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating on the stock in a research report on Monday, February 2nd. Weiss Ratings restated a “sell (d+)” rating on shares of Marcus & Millichap in a research report on Friday, March 27th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Sell” and an average target price of $28.00.

Marcus & Millichap Stock Performance

Shares of MMI opened at $27.80 on Friday. The business’s 50-day moving average is $26.62 and its two-hundred day moving average is $27.55. The company has a market capitalization of $1.06 billion, a P/E ratio of -694.70 and a beta of 1.25. Marcus & Millichap has a fifty-two week low of $24.43 and a fifty-two week high of $33.62.

Marcus & Millichap (NYSE:MMI) last posted its earnings results on Friday, February 13th. The real estate investment trust reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.12. Marcus & Millichap had a positive return on equity of 0.20% and a negative net margin of 0.25%.The firm had revenue of $243.95 million for the quarter, compared to analysts’ expectations of $229.45 million.

Marcus & Millichap Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, April 3rd. Stockholders of record on Friday, March 13th were given a dividend of $0.25 per share. The ex-dividend date was Friday, March 13th. This represents a dividend yield of 196.0%. Marcus & Millichap’s dividend payout ratio (DPR) is -1,250.00%.

Insider Activity at Marcus & Millichap

In related news, CEO Hessam Nadji sold 1,300 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $25.60, for a total value of $33,280.00. Following the transaction, the chief executive officer directly owned 480 shares of the company’s stock, valued at approximately $12,288. This trade represents a 73.03% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 39.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp lifted its stake in Marcus & Millichap by 191,483.3% in the 1st quarter. Fifth Third Bancorp now owns 11,495 shares of the real estate investment trust’s stock valued at $306,000 after buying an additional 11,489 shares in the last quarter. Pzena Investment Management LLC lifted its stake in Marcus & Millichap by 227.6% in the 1st quarter. Pzena Investment Management LLC now owns 2,012,763 shares of the real estate investment trust’s stock valued at $53,519,000 after buying an additional 1,398,441 shares in the last quarter. Inspire Investing LLC lifted its stake in Marcus & Millichap by 12.2% in the 1st quarter. Inspire Investing LLC now owns 19,244 shares of the real estate investment trust’s stock valued at $512,000 after buying an additional 2,092 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Marcus & Millichap by 30.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 12,727 shares of the real estate investment trust’s stock valued at $338,000 after buying an additional 2,964 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in Marcus & Millichap in the 1st quarter valued at about $282,000. 62.78% of the stock is owned by hedge funds and other institutional investors.

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.