Hotchkis & Wiley Capital Management LLC Invests $6.05 Million in Marcus & Millichap, Inc. $MMI

Key Points

• Hotchkis & Wiley Capital Management LLC acquired 175,460 shares of Marcus & Millichap, Inc. valued at approximately $6,045,000, representing about 0.45% ownership of the real estate investment trust.
• Marcus & Millichap recently reported negative earnings per share of ($0.28), missing analysts' expectations, with a revenue of $172.28 million for the quarter.
• The company announced a $0.25 per share dividend to be paid on October 6th, with an ex-dividend date of September 15th, despite a negative payout ratio of -161.29%.

Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Marcus & Millichap, Inc. (NYSE:MMI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 175,460 shares of the real estate investment trust's stock, valued at approximately $6,045,000. Hotchkis & Wiley Capital Management LLC owned about 0.45% of Marcus & Millichap at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MMI. Reinhart Partners LLC. lifted its position in shares of Marcus & Millichap by 13.3% during the 1st quarter. Reinhart Partners LLC. now owns 2,162,935 shares of the real estate investment trust's stock worth $74,513,000 after buying an additional 253,444 shares during the last quarter. Nuveen LLC acquired a new position in Marcus & Millichap in the first quarter valued at $2,570,000. Harbor Capital Advisors Inc. grew its stake in Marcus & Millichap by 25.7% during the 1st quarter. Harbor Capital Advisors Inc. now owns 191,689 shares of the real estate investment trust's stock worth $6,604,000 after buying an additional 39,235 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Marcus & Millichap during the 1st quarter worth approximately $1,122,000. Finally, GAMMA Investing LLC grew its stake in Marcus & Millichap by 4,330.3% during the 1st quarter. GAMMA Investing LLC now owns 20,911 shares of the real estate investment trust's stock worth $720,000 after buying an additional 20,439 shares during the last quarter. Hedge funds and other institutional investors own 62.78% of the company's stock.

Marcus & Millichap Stock Performance

NYSE:MMI traded down $0.01 during trading hours on Friday, hitting $32.64. The company's stock had a trading volume of 71,522 shares, compared to its average volume of 125,348. The business's 50-day moving average is $31.29 and its two-hundred day moving average is $32.13. The company has a market capitalization of $1.27 billion, a PE ratio of -105.28 and a beta of 1.29. Marcus & Millichap, Inc. has a 52-week low of $27.61 and a 52-week high of $42.80.

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

Marcus & Millichap Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MMI. Citizens Jmp began coverage on Marcus & Millichap in a research note on Monday, July 21st. They set a "market perform" rating on the stock. JMP Securities assumed coverage on shares of Marcus & Millichap in a research note on Monday, July 21st. They set a "market perform" rating for the company. Finally, Wall Street Zen downgraded shares of Marcus & Millichap from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Marcus & Millichap currently has an average rating of "Reduce" and an average price target of $30.00.

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.