Marcus & Millichap, Inc. (NYSE:MMI) Plans $0.25 Dividend

Key Points

• Marcus & Millichap declared a $0.25-per-share dividend, payable October 6 to shareholders of record on September 15; the stated yield is 163.0%, and the payout ratio is 73.5%.
• The stock rose 0.1% to $30.77, trading within a 52-week range of $24.43 to $33.62. Its latest quarterly results matched analyst expectations at a loss of $0.08 per share, while revenue increased 18.3% year over year to $171.47 million.
• Institutional investors and hedge funds own 62.78% of the company, with several firms—including AQR Capital Management, UBS Asset Management and Jane Street—recently increasing their positions.

Marcus & Millichap, Inc. (NYSE:MMI - Get Free Report) announced a dividend on Monday, August 3rd. Investors of record on Tuesday, September 15th will be given a dividend of 0.25 per share by the real estate investment trust on Tuesday, October 6th. This represents a yield of 163.0%. The ex-dividend date of this dividend is Tuesday, September 15th.

Marcus & Millichap has a payout ratio of 73.5% indicating that its dividend is sufficiently covered by earnings.

Marcus & Millichap Trading Up 0.1%

Marcus & Millichap stock traded up $0.02 during trading on Monday, hitting $30.77. The company had a trading volume of 136,962 shares, compared to its average volume of 243,205. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -3,073.83 and a beta of 1.23. Marcus & Millichap has a 1-year low of $24.43 and a 1-year high of $33.62. The company's 50 day simple moving average is $30.31 and its 200-day simple moving average is $28.11.

Marcus & Millichap (NYSE:MMI - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported ($0.08) EPS for the quarter, hitting analysts' consensus estimates of ($0.08). Marcus & Millichap had a positive return on equity of 0.43% and a negative net margin of 0.08%.The company had revenue of $171.47 million for the quarter, compared to analysts' expectations of $162.20 million. During the same period in the prior year, the firm earned ($0.11) earnings per share. The firm's revenue was up 18.3% compared to the same quarter last year.

Institutional Trading of Marcus & Millichap

Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in shares of Marcus & Millichap by 42.8% during the 1st quarter. AQR Capital Management LLC now owns 13,702 shares of the real estate investment trust's stock worth $472,000 after acquiring an additional 4,110 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Marcus & Millichap by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust's stock worth $481,000 after acquiring an additional 600 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Marcus & Millichap by 12.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 77,339 shares of the real estate investment trust's stock worth $2,664,000 after purchasing an additional 8,369 shares during the last quarter. Jane Street Group LLC lifted its stake in Marcus & Millichap by 325.7% during the first quarter. Jane Street Group LLC now owns 43,091 shares of the real estate investment trust's stock worth $1,484,000 after purchasing an additional 32,968 shares during the last quarter. Finally, Strs Ohio acquired a new position in Marcus & Millichap in the first quarter valued at approximately $145,000. Institutional investors and hedge funds own 62.78% of the company's stock.

About Marcus & Millichap

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.

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