Petrus Trust Company LTA Invests $397,000 in Marcus & Millichap, Inc. $MMI

Key Points

• Petrus Trust Company LTA has invested approximately $397,000 in Marcus & Millichap, acquiring 11,534 shares of the real estate investment trust.
• Marcus & Millichap reported a quarterly earnings miss, with an EPS of (\$0.28), falling short of the consensus estimate by ($0.24).
• The company announced a half-year dividend of $0.25 per share, with a payment date set for October 6th, indicating a dividend payout ratio of -161.29%.

Petrus Trust Company LTA bought a new stake in shares of Marcus & Millichap, Inc. (NYSE:MMI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,534 shares of the real estate investment trust's stock, valued at approximately $397,000.

Several other large investors have also modified their holdings of the business. 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 valued at $511,000 after buying an additional 474 shares during the period. Heritage Family Offices LLP boosted its position in shares of 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 buying an additional 556 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Marcus & Millichap by 18.7% during 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 buying an additional 1,437 shares during the period. Natixis Advisors LLC boosted its position in shares of Marcus & Millichap by 7.0% during the first quarter. Natixis Advisors LLC now owns 24,413 shares of the real estate investment trust's stock valued at $841,000 after buying an additional 1,598 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Marcus & Millichap by 7.4% during the fourth 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 buying an additional 2,350 shares during the period. Hedge funds and other institutional investors own 62.78% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citizens Jmp assumed coverage on Marcus & Millichap in a report on Monday, July 21st. They issued a "market perform" rating for the company. JMP Securities assumed coverage on Marcus & Millichap in a report on Monday, July 21st. They issued a "market perform" rating for the company. Finally, Wall Street Zen lowered Marcus & Millichap from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold".

Marcus & Millichap Trading Down 2.4%

Shares of NYSE MMI traded down $0.80 during trading hours on Friday, reaching $32.39. The stock had a trading volume of 92,844 shares, compared to its average volume of 105,140. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -104.47 and a beta of 1.29. Marcus & Millichap, Inc. has a 52-week low of $27.61 and a 52-week high of $42.80. The business's fifty day moving average price is $31.54 and its two-hundred day moving average price is $31.75.

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 analysts' consensus estimates of ($0.04) by ($0.24). The business had revenue of $172.28 million during 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 disclosed a half year 25 dividend, which will be paid on Monday, October 6th. Investors 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 yield of 160.0%. Marcus & Millichap's payout ratio is -161.29%.

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.