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 first quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Reinhart Partners LLC. boosted its stake in Marcus & Millichap by 13.3% during the first quarter. Reinhart Partners LLC. now owns 2,162,935 shares of the real estate investment trust's stock valued at $74,513,000 after buying an additional 253,444 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Marcus & Millichap by 0.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 407,137 shares of the real estate investment trust's stock valued at $14,026,000 after purchasing an additional 3,577 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Marcus & Millichap by 1.2% during the fourth quarter. Northern Trust Corp now owns 248,750 shares of the real estate investment trust's stock valued at $9,517,000 after purchasing an additional 2,858 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in Marcus & Millichap by 25.7% in 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 acquiring an additional 39,235 shares in the last quarter. Finally, Sprott Inc. lifted its stake in Marcus & Millichap by 2.4% in the 1st quarter. Sprott Inc. now owns 174,000 shares of the real estate investment trust's stock worth $5,994,000 after acquiring an additional 4,000 shares in the last quarter. Institutional investors own 62.78% of the company's stock.

Marcus & Millichap Stock Down 0.0%

Shares of MMI stock traded down $0.01 during mid-day trading on Friday, reaching $32.64. The stock had a trading volume of 71,522 shares, compared to its average volume of 123,192. The firm's 50 day simple moving average is $31.26 and its 200 day simple moving average is $32.23. Marcus & Millichap, Inc. has a one year low of $27.61 and a one year high of $42.80. The firm has a market cap of $1.27 billion, a PE ratio of -105.28 and a beta of 1.27.

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

Marcus & Millichap Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have weighed in on MMI shares. Citizens Jmp started coverage on Marcus & Millichap in a research report on Monday, July 21st. They issued a "market perform" rating on the stock. Wall Street Zen lowered Marcus & Millichap from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, JMP Securities started coverage on Marcus & Millichap in a research report on Monday, July 21st. They issued a "market perform" rating on the stock. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus 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.