Pzena Investment Management LLC Takes Position in Marcus & Millichap, Inc. $MMI

Pzena Investment Management LLC purchased a new position in Marcus & Millichap, Inc. (NYSE:MMI) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,141,001 shares of the real estate investment trust’s stock, valued at approximately $66,735,000. Pzena Investment Management LLC owned about 0.06% of Marcus & Millichap at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Marcus & Millichap by 4.5% during 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. Intech Investment Management LLC raised its holdings in Marcus & Millichap by 8.1% in the third quarter. Intech Investment Management LLC now owns 10,284 shares of the real estate investment trust’s stock worth $302,000 after buying an additional 767 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Marcus & Millichap by 0.7% in 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 buying an additional 789 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Marcus & Millichap by 8.2% during 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. Institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Stock Performance

NYSE MMI opened at $31.00 on Tuesday. Marcus & Millichap, Inc. has a one year low of $24.43 and a one year high of $33.62. The stock has a 50-day moving average of $30.77 and a 200 day moving average of $28.46. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 83.78 and a beta of 1.23.

Marcus & Millichap (NYSE:MMI) last issued 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. The business had revenue of $202.91 million during the quarter, compared to analyst estimates of $194.30 million. Marcus & Millichap had a return on equity of 2.97% and a net margin of 1.77%.

Marcus & Millichap Announces Dividend

The business also recently declared a dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be paid a $0.25 dividend. 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MMI shares. Weiss Ratings reissued a “sell (d)” rating on shares of Marcus & Millichap in a research report on Friday, August 7th. Wall Street Zen raised Marcus & Millichap from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Two analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell” and an average target price of $28.00.

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.