Hessam Nadji Sells 1,300 Shares of Marcus & Millichap (NYSE:MMI) Stock

Marcus & Millichap, Inc. (NYSE:MMI) CEO Hessam Nadji sold 1,300 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $25.60, for a total transaction of $33,280.00. Following the completion of the transaction, the chief executive officer directly owned 480 shares of the company’s stock, valued at $12,288. This trade represents a 73.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Marcus & Millichap Stock Down 1.0%

Marcus & Millichap stock opened at $25.64 on Wednesday. The firm has a market cap of $980.29 million, a P/E ratio of -640.89 and a beta of 1.32. The business has a fifty day moving average of $26.33 and a two-hundred day moving average of $28.38. Marcus & Millichap, Inc. has a twelve month low of $24.43 and a twelve month high of $36.70.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Friday, February 13th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.12. The business had revenue of $243.95 million for the quarter, compared to the consensus estimate 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 Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC raised its stake in Marcus & Millichap by 260.9% in the second 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 last quarter. Savant Capital LLC acquired a new stake in Marcus & Millichap in the second quarter worth about $280,000. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Marcus & Millichap by 57.5% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 50,696 shares of the real estate investment trust’s stock worth $1,488,000 after acquiring an additional 18,498 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Marcus & Millichap by 1.9% during the second quarter. Geode Capital Management LLC now owns 625,781 shares of the real estate investment trust’s stock worth $19,219,000 after acquiring an additional 11,819 shares during the last quarter. Finally, Tributary Capital Management LLC increased its holdings in shares of Marcus & Millichap by 92.4% during 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 in the last quarter. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating for the company in a research report on Monday, February 2nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marcus & Millichap in a research report on Monday, December 29th. Finally, Wall Street Zen lowered shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Sell” and an average target price of $28.00.

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.