Pzena Investment Management LLC Has $18.87 Million Stock Holdings in Marcus & Millichap, Inc. $MMI

Pzena Investment Management LLC lifted its holdings in Marcus & Millichap, Inc. (NYSE:MMI) by 6.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 614,410 shares of the real estate investment trust’s stock after buying an additional 38,159 shares during the period. Pzena Investment Management LLC’s holdings in Marcus & Millichap were worth $18,869,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. AlphaQuest LLC boosted its position in Marcus & Millichap by 410.6% during the 1st quarter. AlphaQuest LLC now owns 2,931 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 2,357 shares during the period. Strs Ohio acquired a new stake in shares of Marcus & Millichap during the first quarter worth approximately $145,000. MQS Management LLC acquired a new stake in shares of Marcus & Millichap during the first quarter worth approximately $210,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Marcus & Millichap during the first quarter worth approximately $279,000. Finally, Petrus Trust Company LTA acquired a new stake in shares of Marcus & Millichap during the first quarter worth approximately $397,000. 62.78% of the stock is currently owned by institutional investors and hedge funds.

Marcus & Millichap Trading Up 3.4%

MMI stock opened at $28.37 on Tuesday. Marcus & Millichap, Inc. has a 1 year low of $27.35 and a 1 year high of $42.80. The company has a fifty day simple moving average of $30.85 and a 200 day simple moving average of $30.76. The firm has a market cap of $1.11 billion, a PE ratio of -91.51 and a beta of 1.28.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.24). Marcus & Millichap had a negative return on equity of 1.99% and a negative net margin of 1.69%.The company had revenue of $172.28 million during the quarter, compared to analyst estimates of $172.60 million.

Marcus & Millichap Announces Dividend

The business also recently announced a half year 25 dividend, which was paid on Monday, October 6th. Investors of record on Monday, September 15th were issued a $0.25 dividend. This represents a yield of 156.0%. The ex-dividend date was Monday, September 15th. Marcus & Millichap’s payout ratio is -161.29%.

Analysts Set New Price Targets

MMI has been the subject of a number of research reports. Wall Street Zen lowered shares of Marcus & Millichap from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Citizens Jmp assumed coverage on Marcus & Millichap in a research report on Monday, July 21st. They set a “market perform” rating for the company. Weiss Ratings reissued a “sell (d)” rating on shares of Marcus & Millichap in a research report on Wednesday, October 8th. Finally, JMP Securities started coverage on Marcus & Millichap in a report on Monday, July 21st. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

About Marcus & Millichap

Marcus & Millichap, Inc engages in the provision of investment real estate brokerage services. It specializes in commercial real estate investment sales, property financing, research, and advisory services. The company was founded by George M. Marcus and William A. Millichap in 1971 and is headquartered in Calabasas, CA.