Deutsche Bank AG Takes Position in Marcus & Millichap, Inc. $MMI

Key Points

• Deutsche Bank initiated a position in Marcus & Millichap, buying 83,232 shares worth approximately $2.6 million, or about 0.22% of the company. Institutional investors collectively own 62.78% of MMI.
• Marcus & Millichap reported quarterly EPS of $0.10, beating estimates of $0.03, while revenue of $202.91 million exceeded the $194.30 million consensus forecast.
• The company declared a $0.25 per-share dividend payable October 6 to shareholders of record September 15. Despite recent analyst upgrades, the consensus rating remains “Reduce,” with a $28 price target versus the stock’s $31.82 opening price.

Deutsche Bank AG bought a new position in shares of Marcus & Millichap, Inc. (NYSE:MMI - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 83,232 shares of the real estate investment trust's stock, valued at approximately $2,594,000. Deutsche Bank AG owned approximately 0.22% of Marcus & Millichap at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MMI. Vanguard Group Inc. increased its holdings in shares of Marcus & Millichap by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 3,816,951 shares of the real estate investment trust's stock valued at $104,165,000 after purchasing an additional 86,609 shares during the period. Pzena Investment Management LLC increased its holdings in shares of Marcus & Millichap by 227.6% in the first quarter. Pzena Investment Management LLC now owns 2,012,763 shares of the real estate investment trust's stock valued at $53,519,000 after purchasing an additional 1,398,441 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Marcus & Millichap by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,481,772 shares of the real estate investment trust's stock worth $39,400,000 after purchasing an additional 43,196 shares during the last quarter. State Street Corp increased its position in shares of Marcus & Millichap by 3.0% during the fourth quarter. State Street Corp now owns 951,032 shares of the real estate investment trust's stock valued at $25,954,000 after acquiring an additional 27,275 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Marcus & Millichap by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 385,116 shares of the real estate investment trust's stock valued at $10,510,000 after purchasing an additional 3,547 shares during the period. Hedge funds and other institutional investors own 62.78% of the company's stock.

Marcus & Millichap Stock Performance

Shares of NYSE MMI opened at $31.82 on Friday. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 86.00 and a beta of 1.23. Marcus & Millichap, Inc. has a 1 year low of $24.43 and a 1 year high of $33.62. The stock's 50-day simple moving average is $31.15 and its 200-day simple moving average is $28.80.

Marcus & Millichap (NYSE:MMI - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The real estate investment trust reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.07. Marcus & Millichap had a net margin of 1.77% and a return on equity of 2.97%. The firm had revenue of $202.91 million for the quarter, compared to the consensus estimate of $194.30 million.

Marcus & Millichap Announces Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be paid 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 dividend payout ratio is presently 135.14%.

Analyst Ratings Changes

MMI has been the topic of a number of analyst reports. Weiss Ratings raised 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 research note on Saturday, August 8th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Marcus & Millichap currently has an average rating of "Reduce" and an average 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.

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