Marcus & Millichap (NYSE:MMI) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wall Street Zen upgraded shares of Marcus & Millichap (NYSE:MMI) from a hold rating to a strong-buy rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings cut shares of Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat, Marcus & Millichap currently has a consensus rating of “Sell” and an average target price of $28.00.

Marcus & Millichap Stock Down 0.6%

NYSE:MMI opened at $31.50 on Friday. The business’s 50-day simple moving average is $30.59 and its two-hundred day simple moving average is $28.26. Marcus & Millichap has a 52 week low of $24.43 and a 52 week high of $33.62. The stock has a market cap of $1.19 billion, a PE ratio of 85.12 and a beta of 1.23.

Marcus & Millichap (NYSE:MMI) last released its earnings results on Thursday, August 6th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $202.91 million during the quarter, compared to analysts’ expectations of $194.30 million.

Marcus & Millichap Announces Dividend

The company also recently announced a dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be given a $0.25 dividend. This represents a dividend yield of 163.0%. The ex-dividend date is Tuesday, September 15th. Marcus & Millichap’s payout ratio is currently -5,000.00%.

Institutional Trading of Marcus & Millichap

Hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 in the last quarter. Intech Investment Management LLC raised its stake in 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 valued at $302,000 after purchasing an additional 767 shares in the last quarter. Principal Financial Group Inc. lifted its position in 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 valued at $3,078,000 after purchasing an additional 789 shares during the last quarter. GAMMA Investing LLC lifted its position in Marcus & Millichap by 27.0% during the second quarter. GAMMA Investing LLC now owns 4,634 shares of the real estate investment trust’s stock valued at $144,000 after purchasing an additional 984 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Marcus & Millichap by 8.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,669 shares of the real estate investment trust’s stock worth $374,000 after buying an additional 1,038 shares in the last quarter. 62.78% of the stock is owned by hedge funds and other institutional investors.

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.