Marcus & Millichap (NYSE:MMI) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Marcus & Millichap (NYSE:MMI – Get Rating) in a research report released on Thursday morning. The brokerage issued a hold rating on the real estate investment trust’s stock.

Separately, Wells Fargo & Company lowered their price target on shares of Marcus & Millichap from $26.00 to $24.00 and set an underweight rating for the company in a report on Friday, January 27th.

Marcus & Millichap Price Performance

MMI traded down $0.42 during trading hours on Thursday, reaching $30.79. 448,940 shares of the stock traded hands, compared to its average volume of 157,388. The firm’s fifty day simple moving average is $35.53 and its two-hundred day simple moving average is $35.56. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 11.93 and a beta of 1.02. Marcus & Millichap has a fifty-two week low of $30.00 and a fifty-two week high of $58.33.

Marcus & Millichap (NYSE:MMI – Get Rating) last released its quarterly earnings results on Friday, February 17th. The real estate investment trust reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.61). The firm had revenue of $262.45 million for the quarter. Marcus & Millichap had a net margin of 8.01% and a return on equity of 14.73%. During the same period last year, the firm posted $1.53 earnings per share.

Marcus & Millichap Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 6th. Shareholders of record on Tuesday, March 14th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, March 13th. This represents a yield of 1.4%. Marcus & Millichap’s dividend payout ratio (DPR) is 19.38%.

Insider Buying and Selling at Marcus & Millichap

In other Marcus & Millichap news, COO John David Parker sold 4,974 shares of the stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $30.96, for a total transaction of $153,995.04. Following the transaction, the chief operating officer now directly owns 5,932 shares in the company, valued at approximately $183,654.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO John David Parker sold 4,974 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $30.96, for a total value of $153,995.04. Following the transaction, the chief operating officer now directly owns 5,932 shares in the company, valued at approximately $183,654.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Hessam Nadji sold 5,428 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $35.03, for a total transaction of $190,142.84. Following the completion of the transaction, the chief executive officer now owns 157,133 shares in the company, valued at $5,504,368.99. The disclosure for this sale can be found here. 38.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Allianz Asset Management GmbH bought a new position in shares of Marcus & Millichap in the 3rd quarter worth about $1,216,000. Allspring Global Investments Holdings LLC lifted its position in Marcus & Millichap by 89.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,315 shares of the real estate investment trust’s stock valued at $174,000 after purchasing an additional 2,506 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in Marcus & Millichap by 2.5% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 118,400 shares of the real estate investment trust’s stock valued at $3,881,000 after purchasing an additional 2,900 shares during the last quarter. CI Investments Inc. lifted its position in Marcus & Millichap by 11.8% in the 2nd quarter. CI Investments Inc. now owns 15,488 shares of the real estate investment trust’s stock valued at $573,000 after purchasing an additional 1,629 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in Marcus & Millichap by 78.7% in the 3rd quarter. Lazard Asset Management LLC now owns 3,145 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 1,385 shares during the last quarter. 61.56% of the stock is currently owned by institutional investors.

About Marcus & Millichap

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Marcus & Millichap, Inc engages in the provision of investment real estate brokerage services. It specializes in commercial real estate investment sales, property financing, research, and advisory services. The company was founded by George M. Marcus and William A. Millichap in 1971 and is headquartered in Calabasas, CA.