Quantinno Capital Management LP Acquires 40,335 Shares of Marcus & Millichap, Inc. $MMI

Key Points

• Quantinno Capital Management increased its Marcus & Millichap stake by 348.4% in the first quarter, acquiring 40,335 additional shares for a total holding of 51,913 shares. Institutional investors collectively own 62.78% of the company.
• Marcus & Millichap reported quarterly EPS of $0.10, beating the $0.03 consensus estimate, while revenue of $202.91 million exceeded expectations of $194.30 million.
• The stock recently traded at $31.77, above the analyst consensus price target of $28.00. Analysts’ average rating remains “Sell,” while the company declared a $0.25 per-share dividend with a reported 163% yield and a payout ratio of 135.14%.

Quantinno Capital Management LP boosted its holdings in Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 348.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,913 shares of the real estate investment trust's stock after acquiring an additional 40,335 shares during the period. Quantinno Capital Management LP owned 0.14% of Marcus & Millichap worth $1,380,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in Marcus & Millichap during the first quarter worth $1,809,000. Sei Investments Co. raised its position in shares of Marcus & Millichap by 99.7% in the first quarter. Sei Investments Co. now owns 163,766 shares of the real estate investment trust's stock valued at $4,355,000 after purchasing an additional 81,743 shares during the period. State of Wyoming acquired a new stake in shares of Marcus & Millichap during the 1st quarter worth about $64,000. PNC Financial Services Group Inc. lifted its stake in shares of Marcus & Millichap by 27.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,602 shares of the real estate investment trust's stock worth $149,000 after buying an additional 1,214 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Marcus & Millichap by 3.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,481,772 shares of the real estate investment trust's stock worth $39,400,000 after buying an additional 43,196 shares during the period. Institutional investors and hedge funds own 62.78% of the company's stock.

Marcus & Millichap Price Performance

MMI stock opened at $31.77 on Friday. Marcus & Millichap, Inc. has a fifty-two week low of $24.43 and a fifty-two week high of $33.62. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 85.87 and a beta of 1.23. The business's fifty day moving average price is $30.73 and its two-hundred day moving average price is $28.40.

Marcus & Millichap (NYSE:MMI - Get Free Report) last announced its earnings results on Thursday, August 6th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.07. Marcus & Millichap had a net margin of 1.77% and a return on equity of 2.97%. The company had revenue of $202.91 million during the quarter, compared to analysts' expectations of $194.30 million.

Marcus & Millichap Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a yield of 163.0%. Marcus & Millichap's payout ratio is currently 135.14%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Weiss Ratings reiterated a "sell (d)" rating on shares of Marcus & Millichap in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Marcus & Millichap from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of "Sell" and an average price target of $28.00.

Marcus & Millichap Profile

Marcus & Millichap NYSE: MMI is a leading commercial real estate brokerage firm focused on investment sales, financing, research and advisory services. Founded in 1971 by George M. Marcus and William A. Millichap, the company has grown to specialize in the marketing of multifamily, retail, office, industrial, hospitality and other commercial property types. Through an extensive network of investment specialists, Marcus & Millichap connects property owners and investors with tailored transactions across a range of asset classes.

The firm offers comprehensive capital markets solutions, including debt and equity placement, structured finance, and customized financing programs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source