Marcus & Millichap (NYSE:MMI) Rating Lowered to Buy at Wall Street Zen

Key Points

• Wall Street Zen downgraded Marcus & Millichap from “strong buy” to “buy,” while Weiss Ratings upgraded it from “sell” to “hold.” MarketBeat reports an overall “Reduce” rating and a consensus price target of $28.
• MMI shares opened at $31.87, with a one-year range of $24.43 to $33.62 and a market capitalization of approximately $1.21 billion.
• The company exceeded quarterly expectations, reporting $0.10 in EPS versus a $0.03 consensus estimate and revenue of $202.91 million versus $194.30 million expected. Institutional investors own 62.78% of the stock.

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

Separately, Weiss Ratings raised shares of Marcus & Millichap from a "sell (d)" rating to a "hold (c-)" rating in a research report on Friday, August 21st. One 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 an average rating of "Reduce" and a consensus target price of $28.00.

Marcus & Millichap Stock Performance

MMI opened at $31.87 on Friday. Marcus & Millichap has a one year low of $24.43 and a one year high of $33.62. The stock has a market capitalization of $1.21 billion, a P/E ratio of 86.14 and a beta of 1.23. The business's 50-day simple moving average is $31.38 and its 200-day simple moving average is $29.01.

Marcus & Millichap (NYSE:MMI - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.07. The firm had revenue of $202.91 million for the quarter, compared to the consensus estimate 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 hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its position in Marcus & Millichap by 2,920.8% during the 2nd quarter. California State Teachers Retirement System now owns 752,662 shares of the real estate investment trust's stock worth $24,147,000 after purchasing an additional 727,746 shares during the period. Compass Financial Management LLC acquired a new stake in shares of Marcus & Millichap in the 2nd quarter valued at approximately $25,000. Susquehanna International Group LLP boosted its stake in shares of Marcus & Millichap by 88.2% in the second quarter. Susquehanna International Group LLP now owns 15,746 shares of the real estate investment trust's stock valued at $491,000 after buying an additional 7,378 shares in the last quarter. Bank of America Corp DE acquired a new position in Marcus & Millichap during the second quarter worth $3,965,000. Finally, Jupiter Topco LLC acquired a new position in Marcus & Millichap during the second quarter worth $340,000. Institutional investors and hedge funds own 62.78% of the company's stock.

Marcus & Millichap Company 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.

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