According to Zacks, “Marcus & Millichap, Inc. operates a brokerage firm specializing in real estate investments. It offers commercial real estate investment brokerage services for multifamily, retail, office, industrial, land, self-storage, seniors housing, manufactured housing, and mixed-use/other property types. The company also provides a range of advisory and consulting services to developers, lenders, owners, real estate investment trusts, high net worth individuals, pension fund advisors, and other institutions. Marcus & Millichap, Inc. is based in Calabasas, California. “
Separately, JMP Securities reiterated a hold rating on shares of Marcus & Millichap in a research note on Wednesday, June 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Marcus & Millichap presently has a consensus rating of Hold and an average price target of $37.50.
Marcus & Millichap (NYSE:MMI) opened at 25.05 on Wednesday. The company’s 50-day moving average is $25.71 and its 200-day moving average is $25.79. The firm has a market capitalization of $942.06 million, a price-to-earnings ratio of 14.56 and a beta of 1.46. Marcus & Millichap has a 52-week low of $18.77 and a 52-week high of $49.97.
Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings results on Thursday, August 4th. The real estate investment trust reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.06. The firm earned $183.38 million during the quarter, compared to analysts’ expectations of $171.25 million. Marcus & Millichap had a net margin of 9.41% and a return on equity of 34.19%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. Equities analysts predict that Marcus & Millichap will post $1.75 earnings per share for the current year.
In other Marcus & Millichap news, SVP William E. Hughes sold 13,300 shares of the firm’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $27.61, for a total transaction of $367,213.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hessam Nadji sold 13,500 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $28.02, for a total transaction of $378,270.00. Following the transaction, the chief executive officer now owns 361,271 shares of the company’s stock, valued at $10,122,813.42. The disclosure for this sale can be found here. Company insiders own 61.80% of the company’s stock.
A number of institutional investors have recently bought and sold shares of MMI. New Amsterdam Partners LLC NY acquired a new position in Marcus & Millichap during the second quarter valued at $4,617,000. California State Teachers Retirement System increased its position in Marcus & Millichap by 6.0% in the second quarter. California State Teachers Retirement System now owns 30,458 shares of the real estate investment trust’s stock valued at $774,000 after buying an additional 1,721 shares during the period. Bank of New York Mellon Corp increased its position in Marcus & Millichap by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 76,064 shares of the real estate investment trust’s stock valued at $1,933,000 after buying an additional 1,273 shares during the period. Strs Ohio increased its position in Marcus & Millichap by 1.6% in the second quarter. Strs Ohio now owns 25,900 shares of the real estate investment trust’s stock valued at $658,000 after buying an additional 400 shares during the period. Finally, Bank of Montreal Can acquired a new position in Marcus & Millichap during the second quarter valued at $122,000. Hedge funds and other institutional investors own 35.28% of the company’s stock.
Marcus & Millichap Company Profile
Marcus & Millichap, Inc is a brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. The Company also offers market research, consulting and advisory services to its clients. It also offers two services to its clients, such as commercial real estate investment brokerage, and financing and ancillary services.
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