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

Wall Street Zen upgraded shares of Marcus & Millichap (NYSE:MMI) from a hold rating to a buy rating in a research report released on Saturday.

MMI has been the topic of several other reports. Wells Fargo & Company lowered their price target on shares of Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating on the stock in a research report on Monday, February 2nd. Weiss Ratings restated a “sell (d+)” rating on shares of Marcus & Millichap in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell” and a consensus price target of $28.00.

Marcus & Millichap Stock Performance

Shares of MMI stock opened at $25.75 on Friday. The stock has a fifty day moving average price of $26.20 and a 200 day moving average price of $28.03. The stock has a market cap of $980.31 million, a PE ratio of -643.61 and a beta of 1.32. Marcus & Millichap has a 1 year low of $24.43 and a 1 year high of $35.64.

Marcus & Millichap (NYSE:MMI) last posted its earnings results on Friday, February 13th. The real estate investment trust reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.12. The company had revenue of $243.95 million for the quarter, compared to analyst estimates of $229.45 million. Marcus & Millichap had a positive return on equity of 0.20% and a negative net margin of 0.25%.

Marcus & Millichap Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Friday, April 3rd. Stockholders of record on Friday, March 13th will be given a $0.25 dividend. This represents a dividend yield of 196.0%. The ex-dividend date of this dividend is Friday, March 13th. Marcus & Millichap’s payout ratio is currently -1,250.00%.

Insider Activity

In related news, CEO Hessam Nadji sold 1,300 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $25.60, for a total transaction of $33,280.00. Following the sale, the chief executive officer owned 480 shares in the company, valued at approximately $12,288. This trade represents a 73.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 39.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Hsbc Holdings PLC grew its stake in shares of Marcus & Millichap by 260.9% during the 2nd quarter. Hsbc Holdings PLC now owns 47,328 shares of the real estate investment trust’s stock valued at $1,440,000 after buying an additional 34,215 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Marcus & Millichap by 57.5% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 50,696 shares of the real estate investment trust’s stock worth $1,488,000 after buying an additional 18,498 shares during the period. Geode Capital Management LLC boosted its holdings in Marcus & Millichap by 1.9% in the second quarter. Geode Capital Management LLC now owns 625,781 shares of the real estate investment trust’s stock valued at $19,219,000 after acquiring an additional 11,819 shares during the last quarter. Tributary Capital Management LLC boosted its holdings in Marcus & Millichap by 92.4% in the third quarter. Tributary Capital Management LLC now owns 1,339,094 shares of the real estate investment trust’s stock valued at $39,302,000 after acquiring an additional 643,277 shares during the last quarter. Finally, First National Bank of Omaha purchased a new stake in Marcus & Millichap during the third quarter valued at about $614,000. Hedge funds and other institutional investors own 62.78% of the company’s stock.

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.