Jennison Associates LLC Has $20.37 Million Stock Holdings in Marcus & Millichap, Inc. (NYSE:MMI)

Jennison Associates LLC boosted its stake in Marcus & Millichap, Inc. (NYSE:MMI - Free Report) by 109.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 466,327 shares of the real estate investment trust's stock after purchasing an additional 243,281 shares during the quarter. Jennison Associates LLC owned about 1.22% of Marcus & Millichap worth $20,369,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Reinhart Partners LLC. grew its stake in Marcus & Millichap by 10.1% during the fourth quarter. Reinhart Partners LLC. now owns 1,457,609 shares of the real estate investment trust's stock worth $63,668,000 after buying an additional 133,308 shares during the period. Lord Abbett & CO. LLC grew its stake in Marcus & Millichap by 2.2% during the third quarter. Lord Abbett & CO. LLC now owns 972,945 shares of the real estate investment trust's stock worth $28,546,000 after buying an additional 21,100 shares during the period. FMR LLC grew its stake in Marcus & Millichap by 132.3% during the third quarter. FMR LLC now owns 816,916 shares of the real estate investment trust's stock worth $23,968,000 after buying an additional 465,237 shares during the period. Wellington Management Group LLP grew its stake in Marcus & Millichap by 5.4% during the third quarter. Wellington Management Group LLP now owns 400,342 shares of the real estate investment trust's stock worth $11,746,000 after buying an additional 20,420 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Marcus & Millichap by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 321,202 shares of the real estate investment trust's stock worth $9,424,000 after buying an additional 18,706 shares during the period. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

Marcus & Millichap Stock Up 0.1 %

Shares of NYSE MMI traded up $0.04 during trading on Friday, reaching $32.29. 90,638 shares of the stock were exchanged, compared to its average volume of 171,600. The business's 50-day moving average price is $33.94 and its 200 day moving average price is $34.93. Marcus & Millichap, Inc. has a twelve month low of $26.81 and a twelve month high of $44.24. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -36.22 and a beta of 1.20.

Marcus & Millichap (NYSE:MMI - Get Free Report) last posted its earnings results on Friday, February 16th. The real estate investment trust reported ($0.27) EPS for the quarter, topping analysts' consensus estimates of ($0.28) by $0.01. Marcus & Millichap had a negative net margin of 5.27% and a negative return on equity of 5.16%. The business had revenue of $166.24 million for the quarter.

Marcus & Millichap Dividend Announcement

The business also recently declared a Semi-Annual dividend, which was paid on Friday, April 5th. Investors of record on Tuesday, March 12th were issued a $0.25 dividend. The ex-dividend date was Monday, March 11th. This represents a yield of 1.3%. Marcus & Millichap's dividend payout ratio is presently -56.18%.

Insider Activity at Marcus & Millichap

In related news, COO Richard D. Matricaria sold 9,500 shares of the company's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $33.32, for a total value of $316,540.00. Following the sale, the chief operating officer now directly owns 7,078 shares of the company's stock, valued at $235,838.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Marcus & Millichap news, COO John David Parker sold 9,716 shares of the business's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $32.83, for a total transaction of $318,976.28. Following the completion of the sale, the chief operating officer now owns 12,376 shares in the company, valued at $406,304.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Richard D. Matricaria sold 9,500 shares of the business's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $33.32, for a total transaction of $316,540.00. Following the sale, the chief operating officer now owns 7,078 shares of the company's stock, valued at approximately $235,838.96. The disclosure for this sale can be found here. 39.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Marcus & Millichap from a "hold" rating to a "sell" rating in a research report on Monday, March 25th.

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, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets.