Marcus & Millichap, Inc. $MMI Shares Acquired by Reinhart Partners LLC.

Key Points

• Reinhart Partners LLC increased its stake in Marcus & Millichap by 2.4%, owning over 2.2 million shares, which represent 2.3% of its portfolio.
• Despite institutional interest, Marcus & Millichap missed earnings expectations, reporting a loss of ($0.28) per share against estimates of ($0.04).
• The company declared a $0.25 dividend to be paid on October 6th, with an ex-dividend date of September 15th, indicating significant investor yield challenges with a negative dividend payout ratio.

Reinhart Partners LLC. grew its holdings in shares of Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,214,779 shares of the real estate investment trust's stock after purchasing an additional 51,844 shares during the period. Marcus & Millichap makes up about 2.3% of Reinhart Partners LLC.'s portfolio, making the stock its 18th biggest holding. Reinhart Partners LLC. owned about 5.68% of Marcus & Millichap worth $68,016,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MMI. Bank of America Corp DE increased its position in shares of Marcus & Millichap by 7.4% in the 4th quarter. Bank of America Corp DE now owns 34,307 shares of the real estate investment trust's stock valued at $1,313,000 after acquiring an additional 2,350 shares during the period. Deutsche Bank AG grew its position in Marcus & Millichap by 54.1% during the 4th quarter. Deutsche Bank AG now owns 21,494 shares of the real estate investment trust's stock worth $822,000 after purchasing an additional 7,542 shares during the period. Lazard Asset Management LLC grew its position in Marcus & Millichap by 45.1% during the 4th quarter. Lazard Asset Management LLC now owns 20,556 shares of the real estate investment trust's stock worth $786,000 after purchasing an additional 6,385 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Marcus & Millichap by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,352 shares of the real estate investment trust's stock worth $511,000 after purchasing an additional 474 shares during the period. Finally, ProShare Advisors LLC acquired a new stake in Marcus & Millichap during the 4th quarter worth about $271,000. Hedge funds and other institutional investors own 62.78% of the company's stock.

Marcus & Millichap Price Performance

Marcus & Millichap stock traded down $0.82 during midday trading on Friday, reaching $31.53. The company had a trading volume of 295,369 shares, compared to its average volume of 103,829. The company has a market capitalization of $1.23 billion, a P/E ratio of -101.71 and a beta of 1.29. Marcus & Millichap, Inc. has a 12-month low of $27.61 and a 12-month high of $42.80. The firm's fifty day simple moving average is $31.56 and its 200-day simple moving average is $31.51.

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). Marcus & Millichap had a negative return on equity of 1.99% and a negative net margin of 1.69%.The business had revenue of $172.28 million during the quarter, compared to analysts' expectations of $172.60 million.

Marcus & Millichap Announces Dividend

The business also recently announced a half year 25 dividend, which will be paid on Monday, October 6th. Investors of record on Monday, September 15th will be issued a $0.25 dividend. This represents a yield of 156.0%. The ex-dividend date is Monday, September 15th. Marcus & Millichap's dividend payout ratio (DPR) is -161.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Citizens Jmp assumed coverage on Marcus & Millichap in a research report 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 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, August 9th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold".

About Marcus & Millichap

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.