Marcus & Millichap, Inc. $MMI Shares Purchased by Public Sector Pension Investment Board

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% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,291 shares of the real estate investment trust's stock after purchasing 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 reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Marcus & Millichap by 3.7% in the 4th 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 purchasing an additional 474 shares during the last quarter. Heritage Family Offices LLP boosted its stake in Marcus & Millichap by 7.9% during the 1st quarter. Heritage Family Offices LLP now owns 7,586 shares of the real estate investment trust's stock worth $261,000 after purchasing an additional 556 shares during the period. Sterling Capital Management LLC increased its stake in Marcus & Millichap by 807.2% in the fourth quarter. Sterling Capital Management LLC now owns 753 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 670 shares during the period. MetLife Investment Management LLC increased 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 during the period. Finally, Hsbc Holdings PLC raised its holdings in shares of 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 buying an additional 1,376 shares during the last quarter. 62.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. JMP Securities started coverage on Marcus & Millichap in a report on Monday, July 21st. They set a "market perform" rating on the stock. Wall Street Zen cut Marcus & Millichap from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Citizens Jmp began coverage on Marcus & Millichap in a report on Monday, July 21st. They issued a "market perform" rating on the stock. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $30.00.

Marcus & Millichap Stock Up 5.2%

Shares of Marcus & Millichap stock traded up $1.5980 during trading on Friday, reaching $32.3580. The company's stock had a trading volume of 185,861 shares, compared to its average volume of 125,202. The business has a 50 day moving average price of $31.10 and a 200-day moving average price of $32.37. Marcus & Millichap, Inc. has a 12-month low of $27.61 and a 12-month high of $42.80. The company has a market capitalization of $1.26 billion, a P/E ratio of -104.38 and a beta of 1.27.

Marcus & Millichap (NYSE:MMI - Get Free Report) last released its earnings results 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 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 business also recently announced a half year 25 dividend, which will be paid on Monday, October 6th. Shareholders of record on Monday, September 15th will be issued 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 dividend payout ratio (DPR) is -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.