StockNews.com Downgrades Marcus & Millichap (NYSE:MMI) to Sell

StockNews.com cut shares of Marcus & Millichap (NYSE:MMI) from a hold rating to a sell rating in a research note issued to investors on Monday.

Marcus & Millichap Trading Up 1.5 %

Shares of MMI opened at $34.17 on Monday. The firm’s fifty day simple moving average is $36.21 and its 200-day simple moving average is $34.61. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -38.39 and a beta of 1.22. Marcus & Millichap has a twelve month low of $26.81 and a twelve month high of $44.24.

Marcus & Millichap (NYSE:MMI) last issued its earnings results on Friday, February 16th. The real estate investment trust reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.01. Marcus & Millichap had a negative net margin of 5.27% and a negative return on equity of 5.16%. The business had revenue of $166.24 million for the quarter.

Marcus & Millichap Announces Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Friday, April 5th. Shareholders of record on Tuesday, March 12th will be given a dividend of $0.25 per share. This represents a yield of 1.3%. The ex-dividend date of this dividend is Monday, March 11th. Marcus & Millichap’s payout ratio is currently -56.18%.

Insider Transactions at Marcus & Millichap

In other news, COO John David Parker sold 9,716 shares of Marcus & Millichap stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $32.83, for a total transaction of $318,976.28. Following the completion of the sale, the chief operating officer now directly owns 12,376 shares in the company, valued at $406,304.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Richard D. Matricaria sold 9,500 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $33.32, for a total transaction of $316,540.00. Following the transaction, the chief operating officer now directly owns 7,078 shares of the company’s stock, valued at $235,838.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO John David Parker sold 9,716 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $32.83, for a total transaction of $318,976.28. Following the transaction, the chief operating officer now directly owns 12,376 shares in the company, valued at $406,304.08. The disclosure for this sale can be found here. Insiders own 39.20% of the company’s stock.

Institutional Trading of Marcus & Millichap

A number of institutional investors and hedge funds have recently modified their holdings of MMI. Citigroup Inc. grew its position in shares of Marcus & Millichap by 42.9% during the first quarter. Citigroup Inc. now owns 27,112 shares of the real estate investment trust’s stock worth $1,428,000 after acquiring an additional 8,141 shares during the last quarter. Bank of Montreal Can grew its position in shares of Marcus & Millichap by 16.5% during the first quarter. Bank of Montreal Can now owns 7,913 shares of the real estate investment trust’s stock worth $403,000 after acquiring an additional 1,120 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Marcus & Millichap by 54.3% during the first quarter. MetLife Investment Management LLC now owns 13,471 shares of the real estate investment trust’s stock worth $710,000 after acquiring an additional 4,743 shares during the last quarter. Rhumbline Advisers grew its position in Marcus & Millichap by 0.6% in the 1st quarter. Rhumbline Advisers now owns 67,158 shares of the real estate investment trust’s stock valued at $3,538,000 after buying an additional 413 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Marcus & Millichap by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,545 shares of the real estate investment trust’s stock valued at $1,135,000 after buying an additional 2,657 shares during the period. 62.78% of the stock is owned by institutional investors and hedge funds.

About Marcus & Millichap

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, as well as capital markets.