Annis Gardner Whiting Capital Advisors LLC Purchases Shares of 8,100 Marcus & Millichap, Inc. (NYSE:MMI)

Key Points

• Annis Gardner Whiting Capital Advisors LLC acquired 8,100 shares of Marcus & Millichap, valued at approximately $279,000, in the first quarter, marking a new position for the investment firm.
• Marcus & Millichap reported earnings of ($0.11) per share, exceeding analysts' expectations of ($0.16), with revenue of $145.04 million for the quarter.
• The company recently declared a $0.25 dividend to be paid on October 6th, with a significant dividend yield of 160.0%.

Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Marcus & Millichap, Inc. (NYSE:MMI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,100 shares of the real estate investment trust's stock, valued at approximately $279,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in Marcus & Millichap by 2.7% during the first quarter. Principal Financial Group Inc. now owns 119,789 shares of the real estate investment trust's stock worth $4,127,000 after acquiring an additional 3,095 shares during the period. New York State Teachers Retirement System raised its stake in Marcus & Millichap by 11.4% during the first quarter. New York State Teachers Retirement System now owns 23,618 shares of the real estate investment trust's stock worth $814,000 after acquiring an additional 2,416 shares during the period. Deutsche Bank AG raised its stake in Marcus & Millichap by 54.1% during the fourth quarter. Deutsche Bank AG now owns 21,494 shares of the real estate investment trust's stock worth $822,000 after acquiring an additional 7,542 shares during the period. JPMorgan Chase & Co. raised its stake in Marcus & Millichap by 61.5% during the fourth quarter. JPMorgan Chase & Co. now owns 123,089 shares of the real estate investment trust's stock worth $4,709,000 after acquiring an additional 46,865 shares during the period. Finally, GAMMA Investing LLC raised its stake in Marcus & Millichap by 4,330.3% during the first quarter. GAMMA Investing LLC now owns 20,911 shares of the real estate investment trust's stock worth $720,000 after acquiring an additional 20,439 shares during the period. 62.78% of the stock is owned by hedge funds and other institutional investors.

Marcus & Millichap Trading Up 1.2%

Marcus & Millichap stock traded up $0.34 on Friday, reaching $29.08. 162,411 shares of the stock were exchanged, compared to its average volume of 108,227. The stock has a market cap of $1.13 billion, a PE ratio of -93.81 and a beta of 1.27. Marcus & Millichap, Inc. has a twelve month low of $27.61 and a twelve month high of $42.80. The firm has a fifty day moving average price of $30.94 and a two-hundred day moving average price of $32.84.

Marcus & Millichap (NYSE:MMI - Get Free Report) last released its earnings results on Thursday, August 7th. The real estate investment trust reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.24). The firm had revenue of $172.28 million for the quarter, compared to analyst estimates of $172.60 million. Marcus & Millichap had a negative return on equity of 1.99% and a negative net margin of 1.69%.

Marcus & Millichap Announces Dividend

The business also recently disclosed a half year 25 dividend, which will be paid on Monday, October 6th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, September 15th. This represents a dividend yield of 160.0%. Marcus & Millichap's payout ratio is presently -161.29%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MMI shares. JMP Securities started coverage on shares of Marcus & Millichap in a research note on Monday, July 21st. They issued a "market perform" rating on the stock. Citizens Jmp started coverage on shares of Marcus & Millichap in a research note on Monday, July 21st. They issued a "market perform" rating on the stock. Finally, Wall Street Zen lowered shares of Marcus & Millichap from a "hold" rating to a "sell" rating in a research note on Saturday.

Marcus & Millichap Profile

Marcus & Millichap, Inc engages in the provision of investment real estate brokerage services. It specializes in commercial real estate investment sales, property financing, research, and advisory services. The company was founded by George M. Marcus and William A. Millichap in 1971 and is headquartered in Calabasas, CA.