Marcus & Millichap (NYSE:MMI) Announces Quarterly Earnings Results

Marcus & Millichap (NYSE:MMI) released its quarterly earnings data on Thursday. The real estate investment trust reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08), FiscalAI reports. Marcus & Millichap had a positive return on equity of 0.43% and a negative net margin of 0.08%.The business had revenue of $171.47 million during the quarter, compared to analysts’ expectations of $162.20 million. During the same quarter last year, the business posted ($0.11) EPS. The business’s revenue was up 18.3% on a year-over-year basis.

Here are the key takeaways from Marcus & Millichap’s conference call:

• Company reported strong top-line and margin recovery with Q1 revenue of $171.5M, up 18% YoY and adjusted EBITDA improving to <$3M> from a <$9M> loss a year ago.
• Financing momentum accelerated—financing revenue $27M (up 48%), total financing volume +60% across ~398 transactions and average deal size +36%, driven by recruiting of senior originators and a 188‑lender network.
• Brokerage activity broadened with 1,348 transactions (up 15%), transactions per agent +11%, and growth across seven of eleven property types, led by private clients, larger deals (+25%), multifamily, and office.
• Balance sheet and capital returns are strong—approximately $335M cash, no debt, $23M of buybacks in Q1, a $0.25 semiannual dividend, and an added $70M repurchase authorization (total $90M available).
• Company remains exposed to macro and market risks: clients are still sensitive to interest‑rate volatility, underwriting and sponsor qualification remain tight, and geopolitical events could moderate transaction momentum.

Marcus & Millichap Stock Up 3.0%

Shares of NYSE:MMI traded up $0.90 during trading on Friday, hitting $30.42. The stock had a trading volume of 276,222 shares, compared to its average volume of 191,058. Marcus & Millichap has a 12 month low of $24.43 and a 12 month high of $33.62. The company has a market capitalization of $1.16 billion, a PE ratio of -3,038.46 and a beta of 1.25. The firm’s fifty day moving average is $26.81 and its 200 day moving average is $27.54.

Marcus & Millichap Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wells Fargo & Company dropped their price objective on Marcus & Millichap from $29.00 to $28.00 and set an “underweight” rating for the company in a report on Monday, February 2nd. Wall Street Zen cut Marcus & Millichap from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Marcus & Millichap in a report on Friday, March 27th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Sell” and a consensus price target of $28.00.

Insider Activity

In other news, CEO Hessam Nadji sold 1,300 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 480 shares of the company’s stock, valued at approximately $12,288. This represents a 73.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 39.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MMI. AQR Capital Management LLC raised its position in shares of Marcus & Millichap by 42.8% in the 1st quarter. AQR Capital Management LLC now owns 13,702 shares of the real estate investment trust’s stock worth $472,000 after acquiring an additional 4,110 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Marcus & Millichap by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust’s stock worth $481,000 after acquiring an additional 600 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Marcus & Millichap by 12.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 77,339 shares of the real estate investment trust’s stock worth $2,664,000 after acquiring an additional 8,369 shares in the last quarter. Jane Street Group LLC raised its position in shares of Marcus & Millichap by 325.7% in the 1st quarter. Jane Street Group LLC now owns 43,091 shares of the real estate investment trust’s stock worth $1,484,000 after acquiring an additional 32,968 shares in the last quarter. Finally, Strs Ohio bought a new position in Marcus & Millichap during the 1st quarter valued at approximately $145,000. Institutional investors own 62.78% of the company’s stock.

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.