New York State Common Retirement Fund cut its position in Marcus & Millichap Inc (NYSE:MMI) by 11.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,374 shares of the real estate investment trust’s stock after selling 9,263 shares during the quarter. New York State Common Retirement Fund’s holdings in Marcus & Millichap were worth $2,948,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its position in shares of Marcus & Millichap by 3.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 172,116 shares of the real estate investment trust’s stock worth $5,975,000 after buying an additional 5,871 shares during the last quarter. Morgan Stanley lifted its position in shares of Marcus & Millichap by 4.0% in the 3rd quarter. Morgan Stanley now owns 253,254 shares of the real estate investment trust’s stock worth $8,791,000 after buying an additional 9,843 shares during the last quarter. New York State Teachers Retirement System lifted its position in shares of Marcus & Millichap by 850.4% in the 4th quarter. New York State Teachers Retirement System now owns 16,156 shares of the real estate investment trust’s stock worth $555,000 after buying an additional 14,456 shares during the last quarter. Arizona State Retirement System bought a new position in shares of Marcus & Millichap in the 4th quarter worth about $1,124,000. Finally, D.A. Davidson & CO. bought a new position in shares of Marcus & Millichap in the 4th quarter worth about $208,000. Hedge funds and other institutional investors own 57.50% of the company’s stock.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Marcus & Millichap from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 23rd. ValuEngine downgraded shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th.

In related news, VP Mitchell R. Labar sold 787 shares of Marcus & Millichap stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $38.46, for a total value of $30,268.02. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 41.70% of the company’s stock.

Shares of NYSE:MMI opened at $31.12 on Wednesday. The stock has a market capitalization of $1.21 billion, a P/E ratio of 14.02, a PEG ratio of 2.78 and a beta of 1.45. Marcus & Millichap Inc has a fifty-two week low of $29.71 and a fifty-two week high of $43.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 4.64 and a current ratio of 4.64.

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 Thomson Reuters’ consensus estimate of $0.42 by ($0.02). The firm had revenue of $160.70 million during the quarter, compared to the consensus estimate of $178.13 million. Marcus & Millichap had a net margin of 10.60% and a return on equity of 21.53%. The company’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 earnings per share. On average, research analysts expect that Marcus & Millichap Inc will post 1.86 earnings per share for the current fiscal year.

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Marcus & Millichap Company 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.

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

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