Legal & General Group Plc Takes $1.64 Million Position in Marcus & Millichap, Inc. $MMI

Legal & General Group Plc bought a new stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 52,497 shares of the real estate investment trust’s stock, valued at approximately $1,636,000. Legal & General Group Plc owned approximately 0.14% of Marcus & Millichap at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MMI. AQR Capital Management LLC raised its position 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 worth $472,000 after acquiring an additional 4,110 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Marcus & Millichap by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust’s stock valued at $481,000 after purchasing an additional 600 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 purchasing an additional 8,369 shares during the period. Jane Street Group LLC increased its stake in shares of Marcus & Millichap by 325.7% during the first quarter. Jane Street Group LLC now owns 43,091 shares of the real estate investment trust’s stock worth $1,484,000 after purchasing an additional 32,968 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Marcus & Millichap during the first quarter worth about $145,000. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Weiss Ratings raised shares of Marcus & Millichap from a “sell (d)” rating to a “hold (c-)” rating in a research note on Friday, August 21st. Wall Street Zen lowered Marcus & Millichap from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $28.00.

Marcus & Millichap Stock Down 0.1%

Shares of MMI opened at $31.87 on Monday. Marcus & Millichap, Inc. has a 52-week low of $24.43 and a 52-week high of $33.62. The stock has a market cap of $1.21 billion, a PE ratio of 86.14 and a beta of 1.23. The firm’s fifty day moving average is $31.38 and its two-hundred day moving average is $29.03.

Marcus & Millichap (NYSE:MMI) last issued its earnings results on Thursday, August 6th. The real estate investment trust reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. The business had revenue of $202.91 million during the quarter, compared to analysts’ expectations of $194.30 million. Marcus & Millichap had a net margin of 1.77% and a return on equity of 2.97%.

Marcus & Millichap Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, September 15th. This represents a yield of 163.0%. Marcus & Millichap’s dividend payout ratio is presently 135.14%.

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.