BlackRock Inc. purchased a new stake in shares of Marcus & Millichap, Inc. (NYSE:MMI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,618,887 shares of the real estate investment trust's stock, valued at approximately $112,801,000. BlackRock Inc. owned 9.57% of Marcus & Millichap as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also modified their holdings of MMI. Kestra Advisory Services LLC bought a new position in shares of Marcus & Millichap in the fourth quarter worth $30,000. Caitong International Asset Management Co. Ltd grew its position in Marcus & Millichap by 79,800.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,598 shares of the real estate investment trust's stock valued at $44,000 after buying an additional 1,596 shares in the last quarter. State of Wyoming bought a new position in Marcus & Millichap in the 1st quarter valued at about $64,000. Quantbot Technologies LP acquired a new position in Marcus & Millichap during the 2nd quarter valued at about $137,000. Finally, GAMMA Investing LLC increased its stake in Marcus & Millichap by 27.0% during the 2nd quarter. GAMMA Investing LLC now owns 4,634 shares of the real estate investment trust's stock valued at $144,000 after buying an additional 984 shares during the period. Institutional investors and hedge funds own 62.78% of the company's stock.
Marcus & Millichap Price Performance
MMI opened at $32.53 on Friday. The company has a market capitalization of $1.23 billion, a PE ratio of 87.92 and a beta of 1.23. Marcus & Millichap, Inc. has a fifty-two week low of $24.43 and a fifty-two week high of $33.62. The business has a 50-day moving average of $31.21 and a 200-day moving average of $28.82.
Marcus & Millichap (NYSE:MMI - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported $0.10 EPS for the quarter, beating the consensus estimate of $0.03 by $0.07. The business had revenue of $202.91 million during 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%.
Marcus & Millichap Dividend Announcement
The business also recently declared a dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a dividend yield of 163.0%. Marcus & Millichap's payout ratio is currently 135.14%.
Analysts Set New Price Targets
Several brokerages recently commented on MMI. Weiss Ratings upgraded shares of Marcus & Millichap from a "sell (d)" rating to a "hold (c-)" rating in a research report on Friday, August 21st. Wall Street Zen upgraded Marcus & Millichap from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $28.00.
View Our Latest Research Report on MMI
Marcus & Millichap Profile
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Free Report)
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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