Marcus & Millichap (NYSE:MMI) Stock Rating Lowered by Wall Street Zen

Marcus & Millichap (NYSE:MMI) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised Marcus & Millichap from a “sell (d)” rating to a “hold (c-)” rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $28.00.

Marcus & Millichap Price Performance

Marcus & Millichap stock opened at $31.87 on Friday. Marcus & Millichap has a 12-month low of $24.43 and a 12-month high of $33.62. The stock has a market capitalization of $1.21 billion, a PE ratio of 86.14 and a beta of 1.23. The firm has a 50 day simple moving average of $31.38 and a 200-day simple moving average of $29.03.

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

Institutional Investors Weigh In On Marcus & Millichap

A number of large investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in Marcus & Millichap by 42.8% in the 1st quarter. AQR Capital Management LLC now owns 13,702 shares of the real estate investment trust’s stock worth $472,000 after purchasing an additional 4,110 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Marcus & Millichap by 4.5% during the 1st 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 raised its stake in Marcus & Millichap by 12.1% during the 1st 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 raised its stake in Marcus & Millichap by 325.7% during the 1st quarter. Jane Street Group LLC now owns 43,091 shares of the real estate investment trust’s stock valued at $1,484,000 after purchasing an additional 32,968 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Marcus & Millichap in the first quarter valued at $145,000. Institutional investors and hedge funds own 62.78% of the company’s stock.

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.