Marcus & Millichap, Inc. $MMI Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its position in Marcus & Millichap, Inc. (NYSE:MMI) by 0.9% in the third quarter, HoldingsChannel reports. The fund owned 3,730,342 shares of the real estate investment trust’s stock after selling 33,646 shares during the quarter. Vanguard Group Inc. owned 0.10% of Marcus & Millichap worth $109,486,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in Marcus & Millichap by 42.8% during the first quarter. AQR Capital Management LLC now owns 13,702 shares of the real estate investment trust’s stock valued at $472,000 after purchasing an additional 4,110 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 worth $481,000 after buying an additional 600 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Marcus & Millichap by 12.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 77,339 shares of the real estate investment trust’s stock valued at $2,664,000 after acquiring an additional 8,369 shares in the last quarter. Jane Street Group LLC raised its stake in Marcus & Millichap by 325.7% in the 1st quarter. Jane Street Group LLC now owns 43,091 shares of the real estate investment trust’s stock valued at $1,484,000 after purchasing an additional 32,968 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of Marcus & Millichap during the first quarter worth $145,000. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Wells Fargo & Company cut their target price on shares of Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating on the stock in a research note on Monday, February 2nd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Marcus & Millichap in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Sell” and an average price target of $28.00.

Marcus & Millichap Stock Up 0.6%

Shares of Marcus & Millichap stock opened at $26.61 on Thursday. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -665.08 and a beta of 1.32. Marcus & Millichap, Inc. has a 52-week low of $24.43 and a 52-week high of $39.58. The company’s 50-day simple moving average is $26.58 and its 200-day simple moving average is $28.76.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings data on Friday, February 13th. The real estate investment trust reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.12. Marcus & Millichap had a negative net margin of 0.25% and a positive return on equity of 0.20%. The firm had revenue of $243.95 million during the quarter, compared to the consensus estimate of $229.45 million.

Marcus & Millichap Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, April 3rd. Investors of record on Friday, March 13th will be paid a $0.25 dividend. The ex-dividend date is Friday, March 13th. This represents a dividend yield of 190.0%. Marcus & Millichap’s payout ratio is -1,250.00%.

About Marcus & Millichap

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.