Comerica Bank raised its position in Marcus & Millichap Inc (NYSE:MMI) by 12.7% in the first quarter, Holdings Channel reports. The institutional investor owned 25,145 shares of the real estate investment trust’s stock after purchasing an additional 2,833 shares during the period. Comerica Bank’s holdings in Marcus & Millichap were worth $1,071,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can lifted its stake in Marcus & Millichap by 63.2% in the first quarter. Bank of Montreal Can now owns 775 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 300 shares during the last quarter. LS Investment Advisors LLC purchased a new stake in Marcus & Millichap in the fourth quarter valued at approximately $82,000. Quantamental Technologies LLC purchased a new stake in Marcus & Millichap in the fourth quarter valued at approximately $99,000. SG Americas Securities LLC purchased a new stake in Marcus & Millichap in the fourth quarter valued at approximately $121,000. Finally, Advisor Group Inc. lifted its stake in Marcus & Millichap by 8.5% in the fourth quarter. Advisor Group Inc. now owns 4,590 shares of the real estate investment trust’s stock valued at $158,000 after buying an additional 359 shares during the last quarter. Institutional investors own 57.50% of the company’s stock.

MMI has been the subject of a number of research reports. Zacks Investment Research cut Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Thursday, February 14th. ValuEngine cut Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th.

Shares of NYSE MMI opened at $30.54 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.64 and a quick ratio of 4.64. Marcus & Millichap Inc has a twelve month low of $30.53 and a twelve month high of $43.50. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 2.79 and a beta of 1.25.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings data on Tuesday, May 7th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.02). Marcus & Millichap had a net margin of 10.60% and a return on equity of 21.53%. The firm had revenue of $160.70 million during the quarter, compared to analysts’ expectations of $178.13 million. During the same quarter in the prior year, the firm posted $0.46 EPS. Marcus & Millichap’s quarterly revenue was down 7.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marcus & Millichap Inc will post 1.86 earnings per share for the current year.

In other news, VP Mitchell R. Labar sold 787 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $38.46, for a total value of $30,268.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 41.70% of the stock is currently owned by insiders.

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Marcus & Millichap Profile

Marcus & Millichap, Inc, a 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, and industrial properties, as well as hospitality, self-storage, seniors housing, land, and manufactured housing properties.

Further Reading: Do investors pay a separate front-end load every time they buy additional shares?

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Institutional Ownership by Quarter for Marcus & Millichap (NYSE:MMI)

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