JPMorgan Chase & Co. Acquires 46,865 Shares of Marcus & Millichap, Inc. (NYSE:MMI)

JPMorgan Chase & Co. increased its stake in Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 61.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,089 shares of the real estate investment trust's stock after purchasing an additional 46,865 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.32% of Marcus & Millichap worth $4,709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MMI. State Street Corp increased its stake in shares of Marcus & Millichap by 0.3% in the third quarter. State Street Corp now owns 910,655 shares of the real estate investment trust's stock worth $36,319,000 after purchasing an additional 2,877 shares during the period. Barclays PLC lifted its position in shares of Marcus & Millichap by 104.7% during the third quarter. Barclays PLC now owns 60,379 shares of the real estate investment trust's stock worth $2,393,000 after purchasing an additional 30,884 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Marcus & Millichap by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 595,145 shares of the real estate investment trust's stock worth $23,591,000 after buying an additional 5,525 shares during the period. Franklin Resources Inc. lifted its stake in shares of Marcus & Millichap by 10.4% in the 3rd quarter. Franklin Resources Inc. now owns 15,753 shares of the real estate investment trust's stock valued at $580,000 after purchasing an additional 1,478 shares during the period. Finally, Lord Abbett & CO. LLC boosted its holdings in Marcus & Millichap by 2.9% during the third quarter. Lord Abbett & CO. LLC now owns 869,669 shares of the real estate investment trust's stock worth $34,465,000 after buying an additional 24,352 shares during the last quarter. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

Marcus & Millichap Stock Up 0.3 %

Shares of MMI traded up $0.08 on Thursday, hitting $30.76. The company's stock had a trading volume of 3,038 shares, compared to its average volume of 101,839. The firm's fifty day moving average price is $34.74 and its 200-day moving average price is $37.19. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -96.09 and a beta of 1.17. Marcus & Millichap, Inc. has a fifty-two week low of $29.36 and a fifty-two week high of $42.80.

Marcus & Millichap (NYSE:MMI - Get Free Report) last announced its quarterly earnings data on Friday, February 14th. The real estate investment trust reported $0.22 EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.28. Marcus & Millichap had a negative net margin of 1.78% and a negative return on equity of 1.98%. The business had revenue of $240.08 million for the quarter. During the same period in the prior year, the firm earned ($0.27) EPS.

Marcus & Millichap Announces Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, April 4th. Stockholders of record on Wednesday, March 12th were given a $0.25 dividend. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, March 12th. Marcus & Millichap's payout ratio is presently -156.25%.

Insider Buying and Selling

In other Marcus & Millichap news, insider Gregory A. Laberge sold 2,915 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $34.78, for a total transaction of $101,383.70. Following the sale, the insider now directly owns 2,307 shares of the company's stock, valued at $80,237.46. The trade was a 55.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 39.20% of the stock is owned by corporate insiders.

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.