Nuveen LLC Makes New $2.57 Million Investment in Marcus & Millichap, Inc. $MMI

Key Points

• Nuveen LLC has acquired 74,610 shares of Marcus & Millichap, valued at approximately $2.57 million, representing a 0.19% stake in the company.
• Marcus & Millichap reported a loss of ($0.28) earnings per share for the quarter, missing earnings estimates significantly.
• The company announced a $0.25 dividend, with a yield of 160.0%, set to be paid on October 6th to shareholders of record on September 15th.

Nuveen LLC acquired a new position in shares of Marcus & Millichap, Inc. (NYSE:MMI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 74,610 shares of the real estate investment trust's stock, valued at approximately $2,570,000. Nuveen LLC owned 0.19% of Marcus & Millichap at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Marcus & Millichap by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,352 shares of the real estate investment trust's stock worth $511,000 after buying an additional 474 shares during the period. Heritage Family Offices LLP boosted its position in Marcus & Millichap by 7.9% during the first quarter. Heritage Family Offices LLP now owns 7,586 shares of the real estate investment trust's stock valued at $261,000 after purchasing an additional 556 shares during the last quarter. MetLife Investment Management LLC grew its stake in Marcus & Millichap by 7.0% in the fourth quarter. MetLife Investment Management LLC now owns 14,473 shares of the real estate investment trust's stock valued at $554,000 after purchasing an additional 946 shares in the last quarter. Hsbc Holdings PLC grew its stake in Marcus & Millichap by 18.2% in the fourth quarter. Hsbc Holdings PLC now owns 8,957 shares of the real estate investment trust's stock valued at $342,000 after purchasing an additional 1,376 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Marcus & Millichap by 18.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,112 shares of the real estate investment trust's stock valued at $349,000 after purchasing an additional 1,437 shares in the last quarter. 62.78% of the stock is owned by institutional investors and hedge funds.

Marcus & Millichap Stock Performance

Shares of MMI traded down $0.01 during mid-day trading on Friday, reaching $32.64. The company's stock had a trading volume of 71,522 shares, compared to its average volume of 125,348. Marcus & Millichap, Inc. has a 1-year low of $27.61 and a 1-year high of $42.80. The business has a 50-day simple moving average of $31.29 and a two-hundred day simple moving average of $32.16.

Marcus & Millichap (NYSE:MMI - Get Free Report) last announced 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). The firm had revenue of $172.28 million for the quarter, compared to the consensus estimate of $172.60 million. Marcus & Millichap had a negative return on equity of 1.99% and a negative net margin of 1.69%.

Marcus & Millichap Announces Dividend

The firm 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 is Monday, September 15th. This represents a dividend yield of 160.0%. Marcus & Millichap's dividend payout ratio (DPR) is presently -161.29%.

Analyst Ratings Changes

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

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.