Marcus & Millichap, Inc. $MMI Stock Position Lifted by Pzena Investment Management LLC

Key Points

• Pzena Investment Management LLC increased its holdings in Marcus & Millichap by 6.6%, now owning 614,410 shares valued at approximately $18.87 million.
• Marcus & Millichap reported a $0.28 loss per share for the last quarter, missing estimates significantly, alongside negative margins and returns on equity.
• The company announced a $0.25 dividend with a remarkable yield of 156.0%, despite a negative dividend payout ratio of -161.29%.

Pzena Investment Management LLC lifted its holdings in Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 6.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 614,410 shares of the real estate investment trust's stock after purchasing an additional 38,159 shares during the quarter. Pzena Investment Management LLC owned 1.58% of Marcus & Millichap worth $18,869,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MMI. Hotchkis & Wiley Capital Management LLC bought a new position in Marcus & Millichap in the 1st quarter valued at about $6,045,000. Nuveen LLC bought a new position in shares of Marcus & Millichap in the first quarter valued at approximately $2,570,000. Reinhart Partners LLC. boosted its holdings in shares of Marcus & Millichap by 2.4% in the second quarter. Reinhart Partners LLC. now owns 2,214,779 shares of the real estate investment trust's stock valued at $68,016,000 after acquiring an additional 51,844 shares in the last quarter. Jane Street Group LLC boosted its stake in Marcus & Millichap by 325.7% during the 1st quarter. Jane Street Group LLC now owns 43,091 shares of the real estate investment trust's stock valued at $1,484,000 after purchasing an additional 32,968 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Marcus & Millichap during the 1st quarter valued at $1,122,000. Institutional investors own 62.78% of the company's stock.

Marcus & Millichap Stock Up 3.4%

NYSE:MMI opened at $28.37 on Tuesday. Marcus & Millichap, Inc. has a 1-year low of $27.35 and a 1-year high of $42.80. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -91.51 and a beta of 1.28. The stock has a fifty day simple moving average of $30.85 and a 200 day simple moving average of $30.76.

Marcus & Millichap (NYSE:MMI - Get Free Report) last released its quarterly 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 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 analyst estimates of $172.60 million.

Marcus & Millichap Announces Dividend

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

Wall Street Analysts Forecast Growth

MMI has been the subject of a number of research reports. Wall Street Zen lowered Marcus & Millichap from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Citizens Jmp initiated coverage on Marcus & Millichap in a research note on Monday, July 21st. They set a "market perform" rating for the company. Weiss Ratings restated a "sell (d)" rating on shares of Marcus & Millichap in a research report on Wednesday, October 8th. Finally, JMP Securities initiated coverage on shares of Marcus & Millichap in a research report on Monday, July 21st. They set a "market perform" rating for the company. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Marcus & Millichap presently has an average rating of "Reduce".

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.

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