StockNews.com lowered shares of Marcus & Millichap (NYSE:MMI – Get Rating) from a buy rating to a hold rating in a research report released on Monday morning.
Separately, Wells Fargo & Company dropped their price target on Marcus & Millichap from $30.00 to $26.00 and set an underweight rating on the stock in a research report on Friday.
Get Marcus & Millichap alerts:Marcus & Millichap Price Performance
Shares of NYSE:MMI opened at $32.47 on Monday. The company has a market capitalization of $1.30 billion, a PE ratio of 7.69 and a beta of 0.99. The business has a fifty day moving average price of $38.45 and a two-hundred day moving average price of $41.73. Marcus & Millichap has a 1 year low of $32.08 and a 1 year high of $58.33.
Marcus & Millichap (NYSE:MMI – Get Rating) last issued its quarterly earnings results on Friday, August 5th. The real estate investment trust reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.20. Marcus & Millichap had a return on equity of 25.12% and a net margin of 11.07%. During the same quarter in the previous year, the firm posted $0.78 EPS.Marcus & Millichap Announces Dividend
The business also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, October 6th. Investors of record on Thursday, September 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a yield of 1.2%. Marcus & Millichap's dividend payout ratio (DPR) is 11.85%.
Insider Buying and Selling
In related news, insider Gregory A. Laberge sold 2,155 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $40.45, for a total transaction of $87,169.75. Following the sale, the insider now owns 10,172 shares of the company's stock, valued at approximately $411,457.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 38.80% of the stock is currently owned by insiders.
Institutional Trading of Marcus & Millichap
Several institutional investors and hedge funds have recently modified their holdings of MMI. Bank of America Corp DE raised its holdings in shares of Marcus & Millichap by 32.6% in the 4th quarter. Bank of America Corp DE now owns 40,404 shares of the real estate investment trust's stock valued at $2,079,000 after acquiring an additional 9,944 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Marcus & Millichap in the 4th quarter valued at about $236,000. Citigroup Inc. raised its holdings in shares of Marcus & Millichap by 44.5% in the 4th quarter. Citigroup Inc. now owns 18,971 shares of the real estate investment trust's stock valued at $976,000 after acquiring an additional 5,843 shares in the last quarter. Gotham Asset Management LLC purchased a new stake in shares of Marcus & Millichap in the 4th quarter valued at about $247,000. Finally, Blair William & Co. IL raised its holdings in shares of Marcus & Millichap by 8.7% in the 4th quarter. Blair William & Co. IL now owns 12,637 shares of the real estate investment trust's stock valued at $650,000 after acquiring an additional 1,007 shares in the last quarter. Hedge funds and other institutional investors own 60.73% of the company's stock.
About Marcus & Millichap
(Get Rating)
Marcus & Millichap, Inc, an investment brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing.
Read More
- Get a free copy of the StockNews.com research report on Marcus & Millichap (MMI)
- MO Money: Why Altria Group Stock is Rallying
- Is the Market Overreacting with Shopify Stock?
- Fed Raises Rates: 3 Stocks to Watch Newmont Mining, Walmart, AMC
- Three Consumer Stocks That Could Outperform In Q4
- Comcast is an Asset Bonanza Priced Cheap
Receive News & Ratings for Marcus & Millichap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marcus & Millichap and related companies with MarketBeat.com's FREE daily email newsletter.