Marcus & Millichap (NYSE:MMI) CEO Hessam Nadji Sells 1,300 Shares

Marcus & Millichap, Inc. (NYSE:MMI) CEO Hessam Nadji sold 1,300 shares of Marcus & Millichap stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $25.60, for a total value of $33,280.00. Following the completion of the sale, the chief executive officer owned 480 shares of the company’s stock, valued at $12,288. The trade was a 73.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Marcus & Millichap Stock Up 1.8%

MMI traded up $0.47 during midday trading on Monday, hitting $25.89. 299,339 shares of the company traded hands, compared to its average volume of 296,252. The company’s 50-day moving average is $26.42 and its 200 day moving average is $28.47. The firm has a market capitalization of $989.77 million, a PE ratio of -647.09 and a beta of 1.32. Marcus & Millichap, Inc. has a 52 week low of $24.43 and a 52 week high of $36.70.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Friday, February 13th. The real estate investment trust reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.12. Marcus & Millichap had a negative net margin of 0.25% and a positive return on equity of 0.20%. The firm had revenue of $243.95 million during the quarter, compared to analyst estimates of $229.45 million.

Marcus & Millichap Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, April 3rd. Shareholders of record on Friday, March 13th will be given a $0.25 dividend. This represents a yield of 196.0%. The ex-dividend date of this dividend is Friday, March 13th. Marcus & Millichap’s payout ratio is -1,250.00%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MMI. Caitong International Asset Management Co. Ltd raised its holdings in Marcus & Millichap by 79,800.0% in the 4th 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 Tennessee Department of Treasury grew its holdings in Marcus & Millichap by 113.6% during the fourth quarter. State of Tennessee Department of Treasury now owns 13,070 shares of the real estate investment trust’s stock valued at $356,000 after purchasing an additional 6,952 shares during the period. XTX Topco Ltd increased its position in Marcus & Millichap by 302.2% in the fourth quarter. XTX Topco Ltd now owns 62,216 shares of the real estate investment trust’s stock worth $1,698,000 after buying an additional 46,749 shares in the last quarter. Susquehanna Portfolio Strategies LLC purchased a new stake in Marcus & Millichap in the fourth quarter worth about $705,000. Finally, Tudor Investment Corp ET AL raised its stake in shares of Marcus & Millichap by 152.6% in the fourth quarter. Tudor Investment Corp ET AL now owns 229,413 shares of the real estate investment trust’s stock worth $6,261,000 after buying an additional 138,583 shares during the period. 62.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Wells Fargo & Company reduced their price objective on Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating for the company in a research report on Monday, February 2nd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Marcus & Millichap in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Sell” and a consensus target price of $28.00.

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.