Marcus & Millichap (NYSE:MMI) Posts Earnings Results, Hits Estimates

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

Here are the key takeaways from Marcus & Millichap’s conference call:

• Company reported strong top-line and margin recovery with Q1 revenue of $171.5M, up 18% YoY and adjusted EBITDA improving to <$3M> from a <$9M> loss a year ago.
• Financing momentum accelerated—financing revenue $27M (up 48%), total financing volume +60% across ~398 transactions and average deal size +36%, driven by recruiting of senior originators and a 188‑lender network.
• Brokerage activity broadened with 1,348 transactions (up 15%), transactions per agent +11%, and growth across seven of eleven property types, led by private clients, larger deals (+25%), multifamily, and office.
• Balance sheet and capital returns are strong—approximately $335M cash, no debt, $23M of buybacks in Q1, a $0.25 semiannual dividend, and an added $70M repurchase authorization (total $90M available).
• Company remains exposed to macro and market risks: clients are still sensitive to interest‑rate volatility, underwriting and sponsor qualification remain tight, and geopolitical events could moderate transaction momentum.

Marcus & Millichap Trading Up 3.0%

NYSE MMI traded up $0.90 during mid-day trading on Friday, hitting $30.42. The company’s stock had a trading volume of 276,222 shares, compared to its average volume of 191,058. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -3,038.46 and a beta of 1.25. The company’s 50 day simple moving average is $26.81 and its 200 day simple moving average is $27.54. Marcus & Millichap has a twelve month low of $24.43 and a twelve month high of $33.62.

Marcus & Millichap Dividend Announcement

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

Wall Street Analysts Forecast Growth

MMI has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price target on Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating on the stock in a research note on Monday, February 2nd. Wall Street Zen lowered Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Marcus & Millichap in a research note on Friday, March 27th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Marcus & Millichap presently has a consensus rating of “Sell” and an average target price of $28.00.

Insiders Place Their Bets

In other Marcus & Millichap news, CEO Hessam Nadji sold 1,300 shares of the firm’s stock in a transaction on 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 39.20% of the company’s stock.

Institutional Investors Weigh In On Marcus & Millichap

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp boosted its stake in Marcus & Millichap by 3.0% during the 4th quarter. State Street Corp now owns 951,032 shares of the real estate investment trust’s stock valued at $25,954,000 after purchasing an additional 27,275 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Marcus & Millichap by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 385,116 shares of the real estate investment trust’s stock worth $10,510,000 after purchasing an additional 3,547 shares in the last quarter. Jane Street Group LLC increased its holdings in Marcus & Millichap by 542.1% during the 4th quarter. Jane Street Group LLC now owns 269,722 shares of the real estate investment trust’s stock worth $7,361,000 after purchasing an additional 227,719 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Marcus & Millichap by 773.2% during the 4th quarter. Renaissance Technologies LLC now owns 260,200 shares of the real estate investment trust’s stock worth $7,101,000 after purchasing an additional 230,400 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its holdings in Marcus & Millichap by 152.6% during the 4th quarter. Tudor Investment Corp ET AL now owns 229,413 shares of the real estate investment trust’s stock worth $6,261,000 after purchasing an additional 138,583 shares in the last quarter. Institutional investors and hedge funds 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.