Deutsche Bank AG purchased a new stake in shares of Marcus & Millichap, Inc. (NYSE:MMI – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 83,232 shares of the real estate investment trust’s stock, valued at approximately $2,594,000.
Several other hedge funds have also made changes to their positions in MMI. Bank of New York Mellon Corp acquired a new stake in Marcus & Millichap during the 2nd quarter valued at $5,154,000. State of Wyoming acquired a new stake in shares of Marcus & Millichap in the second quarter worth $77,000. GAMMA Investing LLC boosted its position in shares of Marcus & Millichap by 27.0% in the second quarter. GAMMA Investing LLC now owns 4,634 shares of the real estate investment trust’s stock worth $144,000 after buying an additional 984 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Marcus & Millichap in the first quarter worth $2,411,000. Finally, Bank of America Corp DE grew its holdings in shares of Marcus & Millichap by 7.9% during the first quarter. Bank of America Corp DE now owns 49,171 shares of the real estate investment trust’s stock valued at $1,307,000 after buying an additional 3,606 shares in the last quarter. Hedge funds and other institutional investors own 62.78% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on MMI shares. Weiss Ratings raised Marcus & Millichap from a “sell (d)” rating to a “hold (c-)” rating in a research note on Friday, August 21st. Wall Street Zen raised Marcus & Millichap from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Marcus & Millichap presently has a consensus rating of “Reduce” and a consensus target price of $28.00.
Marcus & Millichap Stock Performance
Shares of MMI stock opened at $31.82 on Friday. The stock’s 50 day simple moving average is $31.15 and its 200 day simple moving average is $28.80. Marcus & Millichap, Inc. has a twelve month low of $24.43 and a twelve month high of $33.62. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 86.00 and a beta of 1.23.
Marcus & Millichap (NYSE:MMI – Get Free Report) last released its earnings results on Thursday, August 6th. The real estate investment trust reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. Marcus & Millichap had a net margin of 1.77% and a return on equity of 2.97%. The firm had revenue of $202.91 million during the quarter, compared to analyst estimates of $194.30 million.
Marcus & Millichap Dividend Announcement
The company also recently disclosed a dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 15th. This represents a dividend yield of 163.0%. Marcus & Millichap’s payout ratio is currently 135.14%.
Marcus & Millichap Company 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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