Royce & Associates LP Trims Stock Holdings in Marcus & Millichap, Inc. $MMI

Royce & Associates LP cut its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 15.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,562,118 shares of the real estate investment trust’s stock after selling 281,649 shares during the period. Royce & Associates LP’s holdings in Marcus & Millichap were worth $45,848,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of Marcus & Millichap by 299.6% in the 3rd quarter. CWM LLC now owns 3,261 shares of the real estate investment trust’s stock valued at $96,000 after acquiring an additional 2,445 shares in the last quarter. LRI Investments LLC boosted its stake in shares of Marcus & Millichap by 316.2% in the 3rd quarter. LRI Investments LLC now owns 3,484 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 2,647 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Marcus & Millichap during the second quarter valued at about $137,000. Strs Ohio bought a new position in Marcus & Millichap during the 1st quarter worth approximately $145,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Marcus & Millichap by 769.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,286 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 4,678 shares during the period. Institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Trading Down 0.7%

Shares of NYSE:MMI opened at $26.40 on Friday. Marcus & Millichap, Inc. has a 12 month low of $24.43 and a 12 month high of $39.58. The company has a 50-day moving average price of $26.65 and a 200 day moving average price of $28.85. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -659.71 and a beta of 1.32.

Marcus & Millichap (NYSE:MMI) last posted its earnings results on Friday, February 13th. The real estate investment trust reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.12. The company had revenue of $243.95 million during the quarter, compared to analysts’ expectations of $229.45 million. Marcus & Millichap had a negative net margin of 0.25% and a positive return on equity of 0.20%.

Marcus & Millichap Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, April 3rd. Investors of record on Friday, March 13th will be issued a dividend of $0.25 per share. This represents a yield of 190.0%. The ex-dividend date is Friday, March 13th. Marcus & Millichap’s dividend payout ratio (DPR) is -1,250.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MMI shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marcus & Millichap in a research note on Monday, December 29th. Wall Street Zen cut shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Finally, Wells Fargo & Company lowered their target price on shares of Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating for the company in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Sell” and a consensus price target of $28.00.

Marcus & Millichap Profile

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.