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

A number of other hedge funds also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Marcus & Millichap by 0.9% during the 1st 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 acquiring an additional 3,577 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of 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 valued at $6,604,000 after acquiring an additional 39,235 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new position in Marcus & Millichap in the 1st quarter worth approximately $6,045,000. Sprott Inc. lifted its holdings 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 purchasing an additional 4,000 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Marcus & Millichap by 8.2% in the 1st quarter. Russell Investments Group Ltd. now owns 168,736 shares of the real estate investment trust's stock worth $5,813,000 after purchasing an additional 12,717 shares in the last quarter. 62.78% of the stock is currently owned by institutional investors.

Marcus & Millichap Trading Down 2.5%

MMI traded down $0.82 during trading on Friday, hitting $31.53. The company's stock had a trading volume of 295,369 shares, compared to its average volume of 103,829. Marcus & Millichap, Inc. has a twelve month low of $27.61 and a twelve month high of $42.80. The business's fifty day simple moving average is $31.56 and its 200 day simple moving average is $31.57. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -101.71 and a beta of 1.29.

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

Marcus & Millichap Announces Dividend

The company also recently declared a half year 25 dividend, which will be paid on Monday, October 6th. Stockholders of record on Monday, September 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a dividend yield of 156.0%. Marcus & Millichap's payout ratio is currently -161.29%.

Analysts Set New Price Targets

Several analysts have recently issued reports on MMI shares. Wall Street Zen cut Marcus & Millichap from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Citizens Jmp initiated coverage on Marcus & Millichap in a report on Monday, July 21st. They set a "market perform" rating on the stock. Finally, JMP Securities initiated coverage on Marcus & Millichap in a report on Monday, July 21st. They set a "market perform" rating on the stock. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average 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.