Marcus & Millichap (NYSE:MMI) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a research report issued on Tuesday, Zacks.com reports.
According to Zacks, "Marcus & Millichap, Inc. operates a brokerage firm specializing in real estate investments. It offers commercial real estate investment brokerage services for multifamily, retail, office, industrial, land, self-storage, seniors housing, manufactured housing, and mixed-use/other property types. The company also provides a range of advisory and consulting services to developers, lenders, owners, real estate investment trusts, high net worth individuals, pension fund advisors, and other institutions. Marcus & Millichap, Inc. is based in Calabasas, California. "
Separately, TheStreet raised shares of Marcus & Millichap from a "c+" rating to a "b" rating in a report on Thursday, February 18th.
Shares of MMI opened at $39.95 on Tuesday. Marcus & Millichap has a 1-year low of $21.90 and a 1-year high of $40.89. The stock has a market cap of $1.57 billion, a PE ratio of 39.95 and a beta of 1.03. The firm has a fifty day moving average price of $38.11 and a 200 day moving average price of $33.31.
Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Thursday, February 18th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.45. Marcus & Millichap had a net margin of 5.67% and a return on equity of 7.84%. During the same period in the previous year, the firm earned $0.52 earnings per share. On average, analysts anticipate that Marcus & Millichap will post 0.62 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of Marcus & Millichap by 177.9% in the fourth quarter. JPMorgan Chase & Co. now owns 98,855 shares of the real estate investment trust's stock valued at $3,681,000 after buying an additional 63,287 shares during the last quarter. Truist Financial Corp purchased a new stake in shares of Marcus & Millichap in the fourth quarter valued at about $298,000. Nuveen Asset Management LLC raised its holdings in shares of Marcus & Millichap by 34.9% in the fourth quarter. Nuveen Asset Management LLC now owns 159,801 shares of the real estate investment trust's stock valued at $5,949,000 after buying an additional 41,351 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Marcus & Millichap by 6.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 218,705 shares of the real estate investment trust's stock valued at $8,143,000 after buying an additional 14,189 shares during the last quarter. Finally, Vantage Consulting Group Inc purchased a new position in Marcus & Millichap during the fourth quarter worth about $45,000. 58.21% of the stock is owned by institutional investors and hedge funds.
About Marcus & Millichap
Marcus & Millichap, Inc, an investment brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, and industrial properties, as well as hospitality, self-storage, seniors housing, land, and manufactured housing properties.
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