Marcus & Millichap (NYSE:MMI) Stock Rating Lowered by Wall Street Zen

Key Points

• Marcus & Millichap's rating has been downgraded from "hold" to "sell" by analysts at Wall Street Zen, indicating a shift in market sentiment towards the company.
• The company's quarterly earnings report showed a significant miss, with an EPS of ($0.28) compared to expectations of ($0.04), reflecting ongoing challenges for the real estate investment trust.
• Recent institutional investment activity includes notable increases in holdings by hedge funds, with Sterling Capital Management raising its stake by 807.2% in the last quarter.

Wall Street Zen cut shares of Marcus & Millichap (NYSE:MMI - Free Report) from a hold rating to a sell rating in a research report report published on Saturday.

Several other research firms have also commented on MMI. Citizens Jmp initiated coverage on Marcus & Millichap in a research note on Monday, July 21st. They issued a "market perform" rating for the company. JMP Securities initiated coverage on Marcus & Millichap in a research note on Monday, July 21st. They issued a "market perform" rating for the company.

Marcus & Millichap Price Performance

MMI traded up $0.10 during trading on Friday, reaching $29.17. 161,393 shares of the stock were exchanged, compared to its average volume of 123,975. Marcus & Millichap has a 1 year low of $27.61 and a 1 year high of $42.80. The business's 50 day moving average price is $30.94 and its two-hundred day moving average price is $32.78. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -94.09 and a beta of 1.27.

Marcus & Millichap (NYSE:MMI - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $172.28 million during the quarter, compared to analysts' expectations of $172.60 million.

Marcus & Millichap Dividend Announcement

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

Institutional Investors Weigh In On Marcus & Millichap

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its stake in 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 acquiring an additional 670 shares during the last quarter. AlphaQuest LLC increased its stake in Marcus & Millichap by 410.6% during the first quarter. AlphaQuest LLC now owns 2,931 shares of the real estate investment trust's stock worth $101,000 after acquiring an additional 2,357 shares during the last quarter. Strs Ohio acquired a new stake in Marcus & Millichap during the first quarter worth about $145,000. State of Wyoming acquired a new stake in Marcus & Millichap during the fourth quarter worth about $156,000. Finally, Police & Firemen s Retirement System of New Jersey increased its stake in Marcus & Millichap by 16.4% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 5,606 shares of the real estate investment trust's stock worth $172,000 after acquiring an additional 790 shares during the last quarter. 62.78% of the stock is currently owned by institutional investors and hedge funds.

Marcus & Millichap Company 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.