Lazard Asset Management LLC Makes New $1.81 Million Investment in Marcus & Millichap, Inc. $MMI

Lazard Asset Management LLC bought a new stake in Marcus & Millichap, Inc. (NYSE:MMI) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 68,040 shares of the real estate investment trust’s stock, valued at approximately $1,809,000.

A number of other hedge funds have also recently made changes to their positions in MMI. Kestra Advisory Services LLC bought a new stake in shares of Marcus & Millichap during the fourth quarter worth about $30,000. 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 valued at $44,000 after buying an additional 1,596 shares during the last quarter. State of Wyoming bought a new position in Marcus & Millichap in the 1st quarter valued at approximately $64,000. Quantbot Technologies LP acquired a new stake in Marcus & Millichap during the 2nd quarter worth approximately $137,000. Finally, Strs Ohio acquired a new stake in Marcus & Millichap during the 1st quarter worth approximately $145,000. 62.78% of the stock is owned by institutional investors and hedge funds.

Marcus & Millichap Trading Up 0.1%

Shares of MMI stock opened at $30.77 on Tuesday. Marcus & Millichap, Inc. has a 1-year low of $24.43 and a 1-year high of $33.62. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -3,073.83 and a beta of 1.23. The stock has a 50-day moving average of $30.35 and a 200-day moving average of $28.15.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). Marcus & Millichap had a positive return on equity of 0.43% and a negative net margin of 0.08%.The company had revenue of $171.47 million for the quarter, compared to analyst estimates of $162.20 million. During the same period in the previous year, the firm earned ($0.11) earnings per share. The firm’s quarterly revenue was up 18.3% on a year-over-year basis.

Marcus & Millichap Dividend Announcement

The company also recently declared a dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, September 15th. This represents a yield of 163.0%. Marcus & Millichap’s dividend payout ratio (DPR) is presently -5,000.00%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MMI. Weiss Ratings lowered shares of Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Wall Street Zen lowered shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell” and a consensus price target 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.