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

Key Points

• Wall Street Zen downgraded Marcus & Millichap from “buy” to “hold”; Weiss Ratings separately upgraded it from “sell” to “hold.” MarketBeat reports a consensus “Reduce” rating and a $28 target price.
• The stock was reported down 3.6%, with a recent opening price of $27.62, compared with a 52-week range of $24.43 to $33.55.
• Quarterly EPS was $0.03, missing the $0.06 consensus estimate, while revenue of $208.37 million topped expectations of $205.05 million.

Marcus & Millichap (NYSE:MMI - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors 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 report on Friday, August 21st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $28.00.

Marcus & Millichap Stock Down 3.6%

NYSE:MMI opened at $27.62 on Friday. Marcus & Millichap has a fifty-two week low of $24.43 and a fifty-two week high of $33.55. The company has a market cap of $1.05 billion, a P/E ratio of 74.65 and a beta of 1.25. The firm's 50 day moving average is $29.33 and its two-hundred day moving average is $28.79.

Marcus & Millichap (NYSE:MMI - Get Free Report) last issued its quarterly earnings data on Friday, November 6th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.03). The business had revenue of $208.37 million during the quarter, compared to the consensus estimate of $205.05 million. Marcus & Millichap had a return on equity of 2.97% and a net margin of 1.77%.

Institutional Trading of Marcus & Millichap

Large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC increased its position in Marcus & Millichap by 50.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,728 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 583 shares in the last quarter. Inspire Investing LLC grew its holdings in Marcus & Millichap by 3.1% during the 3rd quarter. Inspire Investing LLC now owns 22,455 shares of the real estate investment trust's stock valued at $639,000 after buying an additional 675 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Marcus & Millichap by 6.1% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 12,535 shares of the real estate investment trust's stock worth $357,000 after buying an additional 723 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Marcus & Millichap by 0.7% in the first quarter. Principal Financial Group Inc. now owns 115,747 shares of the real estate investment trust's stock worth $3,078,000 after acquiring an additional 789 shares during the last quarter. Finally, Compass Financial Management LLC bought a new stake in Marcus & Millichap during the 2nd quarter worth about $25,000. 62.78% of the stock is currently owned by institutional investors and hedge funds.

About Marcus & Millichap

Marcus & Millichap, Inc is a commercial real estate brokerage company that specializes in investment sales, financing and advisory services. The company serves owners and investors in a range of property sectors, including multifamily, office, retail, industrial, self-storage, hospitality and land.

Through its brokerage professionals and investment banking platform, Marcus & Millichap helps clients market and acquire commercial properties, arrange financing and evaluate real estate investment opportunities.

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