Public Sector Pension Investment Board Purchases 16,101 Shares of Marcus & Millichap, Inc. $MMI

Key Points

• Public Sector Pension Investment Board increased its stake in Marcus & Millichap, Inc. by 26.8%, owning approximately 0.20% of the company worth $2.63 million at the end of the quarter.
• Marcus & Millichap reported a quarterly EPS of ($0.28), significantly missing analysts' estimates of ($0.04), and revealed a negative net margin of 1.69%.
• The company has announced a dividend of $0.25 per share, with an exceptional dividend yield of 160.0%, although its payout ratio is currently -161.29%.

Public Sector Pension Investment Board lifted its position in shares of Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 26.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,291 shares of the real estate investment trust's stock after buying an additional 16,101 shares during the period. Public Sector Pension Investment Board owned about 0.20% of Marcus & Millichap worth $2,628,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sterling Capital Management LLC boosted its position in shares of Marcus & Millichap by 807.2% during the fourth quarter. Sterling Capital Management LLC now owns 753 shares of the real estate investment trust's stock worth $29,000 after buying an additional 670 shares during the period. State of Wyoming acquired a new position in shares of Marcus & Millichap during the fourth quarter worth about $156,000. Two Sigma Investments LP acquired a new position in shares of Marcus & Millichap during the fourth quarter worth about $230,000. MQS Management LLC acquired a new position in shares of Marcus & Millichap during the first quarter worth about $210,000. Finally, ProShare Advisors LLC acquired a new position in shares of Marcus & Millichap during the fourth quarter worth about $271,000. 62.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MMI has been the subject of several recent research reports. Citizens Jmp initiated coverage on Marcus & Millichap in a research report on Monday, July 21st. They set a "market perform" rating for the company. Wall Street Zen cut Marcus & Millichap from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, JMP Securities assumed coverage on Marcus & Millichap in a research report on Monday, July 21st. They set a "market perform" rating for the company. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $30.00.

Marcus & Millichap Trading Up 0.3%

Shares of MMI traded up $0.0990 during mid-day trading on Monday, reaching $32.5290. The company's stock had a trading volume of 103,498 shares, compared to its average volume of 131,496. Marcus & Millichap, Inc. has a 1-year low of $27.61 and a 1-year high of $42.80. The stock has a market cap of $1.27 billion, a P/E ratio of -104.93 and a beta of 1.27. The business has a 50-day simple moving average of $31.13 and a two-hundred day simple moving average of $32.26.

Marcus & Millichap (NYSE:MMI - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported ($0.28) earnings per share (EPS) 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 business had revenue of $172.28 million during the quarter, compared to analyst estimates of $172.60 million.

Marcus & Millichap Dividend Announcement

The firm also recently disclosed a half year 25 dividend, which will be paid on Monday, October 6th. Stockholders of record on Monday, September 15th will be given a $0.25 dividend. This represents a dividend yield of 160.0%. The ex-dividend date of this dividend is Monday, September 15th. Marcus & Millichap's dividend payout ratio (DPR) is presently -161.29%.

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.