Wall Street Zen Downgrades Marcus & Millichap (NYSE:MMI) to Hold

Marcus & Millichap (NYSE:MMI) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

MMI has been the subject of several other research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marcus & Millichap in a report on Monday, December 22nd. Wells Fargo & Company lowered their price objective on Marcus & Millichap from $30.00 to $29.00 and set an “underweight” rating on the stock in a research report on Friday, October 24th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Marcus & Millichap presently has an average rating of “Reduce” and an average target price of $29.00.

Marcus & Millichap Stock Performance

NYSE:MMI opened at $27.59 on Friday. The stock has a 50-day simple moving average of $29.06 and a two-hundred day simple moving average of $30.25. The firm has a market capitalization of $1.07 billion, a PE ratio of -172.44 and a beta of 1.32. Marcus & Millichap has a 52-week low of $27.10 and a 52-week high of $41.94.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings data on Friday, November 7th. The real estate investment trust reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.13. The firm had revenue of $193.89 million for the quarter, compared to analysts’ expectations of $183.10 million. Marcus & Millichap had a negative return on equity of 0.58% and a negative net margin of 0.89%.

Institutional Investors Weigh In On Marcus & Millichap

Hedge funds and other institutional investors have recently made changes to their positions in the company. Savant Capital LLC increased its stake in Marcus & Millichap by 5.7% in the third quarter. Savant Capital LLC now owns 9,632 shares of the real estate investment trust’s stock worth $283,000 after purchasing an additional 519 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Marcus & Millichap by 4.5% in the 1st 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 last quarter. Illinois Municipal Retirement Fund lifted its position in Marcus & Millichap by 4.9% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 12,807 shares of the real estate investment trust’s stock worth $376,000 after acquiring an additional 601 shares during the period. Janney Montgomery Scott LLC lifted its stake in Marcus & Millichap by 2.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 34,025 shares of the real estate investment trust’s stock valued at $1,045,000 after acquiring an additional 685 shares during the period. Finally, AlphaQuest LLC boosted its holdings in shares of Marcus & Millichap by 6.4% in the 3rd quarter. AlphaQuest LLC now owns 11,649 shares of the real estate investment trust’s stock valued at $342,000 after acquiring an additional 696 shares during the last quarter. Hedge funds and other institutional investors 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.