Pacer Advisors Inc. purchased a new stake in shares of Marcus & Millichap, Inc. (NYSE:MMI – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 90,666 shares of the real estate investment trust’s stock, valued at approximately $2,411,000.
A number of other institutional investors have also modified their holdings of MMI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Marcus & Millichap by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust’s stock valued at $481,000 after purchasing an additional 600 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Marcus & Millichap by 8.1% during the third quarter. Intech Investment Management LLC now owns 10,284 shares of the real estate investment trust’s stock worth $302,000 after purchasing an additional 767 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Marcus & Millichap by 0.7% during the first quarter. Principal Financial Group Inc. now owns 115,747 shares of the real estate investment trust’s stock worth $3,078,000 after purchasing an additional 789 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Marcus & Millichap by 8.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,669 shares of the real estate investment trust’s stock valued at $374,000 after buying an additional 1,038 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in Marcus & Millichap in the fourth quarter valued at approximately $30,000. 62.78% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several brokerages recently weighed in on MMI. Wall Street Zen upgraded shares of Marcus & Millichap from a “hold” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings downgraded shares of Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell” and a consensus target price of $28.00.
Marcus & Millichap Stock Performance
Shares of MMI opened at $31.50 on Friday. The business’s 50-day moving average is $30.59 and its two-hundred day moving average is $28.26. The company has a market capitalization of $1.19 billion, a P/E ratio of 85.12 and a beta of 1.23. Marcus & Millichap, Inc. has a fifty-two week low of $24.43 and a fifty-two week high of $33.62.
Marcus & Millichap (NYSE:MMI – Get Free Report) last issued 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 return on equity of 2.97% and a net margin of 1.77%.The business had revenue of $202.91 million during the quarter, compared to analysts’ expectations of $194.30 million.
Marcus & Millichap Dividend Announcement
The business also recently declared a dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be given a dividend of $0.25 per share. This represents a yield of 163.0%. The ex-dividend date is Tuesday, September 15th. Marcus & Millichap’s dividend payout ratio (DPR) is currently -5,000.00%.
Marcus & Millichap 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.
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