Marcus & Millichap (NYSE:MMI) Reaches New 12-Month Low - Here's Why

Key Points

• Marcus & Millichap's stock hit a new 52-week low of $27.55, last trading at $27.90, reflecting a significant drop in share value.
• Analyst ratings for Marcus & Millichap are predominantly negative, with Weiss Ratings giving a "sell" rating, and the stock averaging a rating of "Reduce".
• The company recently declared a $0.25 dividend with a high dividend yield of 156.0%, despite a negative dividend payout ratio of -161.29%.

Marcus & Millichap, Inc. (NYSE:MMI - Get Free Report)'s stock price reached a new 52-week low on Wednesday . The company traded as low as $27.55 and last traded at $27.90, with a volume of 4489 shares changing hands. The stock had previously closed at $28.06.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MMI. Weiss Ratings reissued a "sell (d)" rating on shares of Marcus & Millichap in a research report on Saturday, September 27th. Citizens Jmp began coverage on shares of Marcus & Millichap in a research report on Monday, July 21st. They issued a "market perform" rating for the company. JMP Securities began coverage on shares of Marcus & Millichap in a research report on Monday, July 21st. They issued a "market perform" rating for the company. Finally, Wall Street Zen cut shares of Marcus & Millichap from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Reduce".

Marcus & Millichap Price Performance

The stock's fifty day simple moving average is $31.09 and its 200-day simple moving average is $31.00. The stock has a market cap of $1.10 billion, a P/E ratio of -90.58 and a beta of 1.28.

Marcus & Millichap (NYSE:MMI - Get Free Report) last issued its earnings results on Thursday, August 7th. The real estate investment trust reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.24). Marcus & Millichap had a negative return on equity of 1.99% and a negative net margin of 1.69%.The business had revenue of $172.28 million during the quarter, compared to the consensus estimate of $172.60 million.

Marcus & Millichap Announces Dividend

The company also recently declared a half year 25 dividend, which was paid on Monday, October 6th. Shareholders of record on Monday, September 15th were paid a $0.25 dividend. The ex-dividend date was Monday, September 15th. This represents a dividend yield of 156.0%. Marcus & Millichap's dividend payout ratio (DPR) is presently -161.29%.

Institutional Investors Weigh In On Marcus & Millichap

Large investors have recently made changes to their positions in the company. AlphaQuest LLC increased its stake in shares of Marcus & Millichap by 410.6% during the first quarter. AlphaQuest LLC now owns 2,931 shares of the real estate investment trust's stock valued at $101,000 after acquiring an additional 2,357 shares during the period. Quantbot Technologies LP acquired a new position in shares of Marcus & Millichap during the second quarter valued at approximately $137,000. Strs Ohio acquired a new position in shares of Marcus & Millichap during the first quarter valued at approximately $145,000. Tower Research Capital LLC TRC grew its position in Marcus & Millichap by 769.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,286 shares of the real estate investment trust's stock worth $162,000 after buying an additional 4,678 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its position in Marcus & Millichap by 16.4% in 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 buying an additional 790 shares during the last quarter. Institutional investors and hedge funds own 62.78% of the company's stock.

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.

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