Marcus & Millichap (NYSE:MMI) Research Coverage Started at StockNews.com

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

Separately, Wells Fargo & Company dropped their target price 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 Stock Down 1.3 %

Shares of Marcus & Millichap stock traded down $0.42 during mid-day trading on Thursday, hitting $30.79. The stock had a trading volume of 448,940 shares, compared to its average volume of 157,388. The firm has a 50-day moving average of $35.53 and a two-hundred day moving average of $35.56. Marcus & Millichap has a 12-month low of $30.00 and a 12-month high of $58.33. The firm has a market cap of $1.21 billion, a P/E ratio of 11.93 and a beta of 1.02.

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

Marcus & Millichap Dividend Announcement

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Asset Management One Co. Ltd. acquired a new position in Marcus & Millichap in the fourth quarter valued at $25,000. Captrust Financial Advisors increased its stake in Marcus & Millichap by 342.7% in the first quarter. Captrust Financial Advisors now owns 1,483 shares of the real estate investment trust’s stock valued at $79,000 after purchasing an additional 1,148 shares during the period. Point72 Hong Kong Ltd acquired a new position in Marcus & Millichap in the second quarter valued at $58,000. Lazard Asset Management LLC increased its stake in Marcus & Millichap by 117.8% in the second quarter. Lazard Asset Management LLC now owns 1,760 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 952 shares during the period. Finally, Lakewood Asset Management LLC acquired a new position in shares of Marcus & Millichap during the fourth quarter worth about $99,000. 61.56% of the stock is currently owned by institutional investors and hedge funds.

Marcus & Millichap Company Profile

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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.