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

Key Points

• Wall Street Zen upgraded Marcus & Millichap from “hold” to “strong-buy,” but Weiss Ratings downgraded the stock’s sell rating. Overall, analysts maintain a “Sell” consensus with a $28 target price.
• MMI shares opened at $31.50, with a market capitalization of approximately $1.19 billion and a 52-week range of $24.43 to $33.62.
• The company beat quarterly expectations, reporting $0.10 earnings per share versus the $0.03 consensus and revenue of $202.91 million versus $194.30 million expected; institutional investors own 62.78% of the stock.

Marcus & Millichap (NYSE:MMI - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "strong-buy" rating in a report issued on Saturday.

Separately, Weiss Ratings lowered Marcus & Millichap from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of "Sell" and a consensus target price of $28.00.

Marcus & Millichap Stock Performance

Shares of MMI stock opened at $31.50 on Friday. The stock's 50-day moving average is $30.59 and its two-hundred day moving average is $28.26. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 85.12 and a beta of 1.23. Marcus & Millichap has a 1 year low of $24.43 and a 1 year high of $33.62.

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

Institutional Trading of Marcus & Millichap

Hedge funds have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC acquired a new position in shares of Marcus & Millichap in the fourth quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Marcus & Millichap by 79,800.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,598 shares of the real estate investment trust's stock worth $44,000 after purchasing an additional 1,596 shares during the period. State of Wyoming acquired a new stake in shares of Marcus & Millichap during the first quarter worth $64,000. Strs Ohio acquired a new stake in shares of Marcus & Millichap during the first quarter worth $145,000. Finally, Quantbot Technologies LP purchased a new position in Marcus & Millichap in the 2nd quarter valued at $137,000. 62.78% of the stock is owned by institutional investors and hedge funds.

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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