Ieq Capital LLC Makes New Investment in Marcus & Millichap, Inc. $MMI

Ieq Capital LLC bought a new position in shares of Marcus & Millichap, Inc. (NYSE:MMI) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 54,691 shares of the real estate investment trust’s stock, valued at approximately $1,705,000.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Marcus & Millichap in the 2nd quarter valued at $112,801,000. Pzena Investment Management LLC acquired a new position in shares of Marcus & Millichap during the second quarter valued at $66,735,000. Renaissance Technologies LLC lifted its stake in shares of Marcus & Millichap by 773.2% during the fourth quarter. Renaissance Technologies LLC now owns 260,200 shares of the real estate investment trust’s stock valued at $7,101,000 after acquiring an additional 230,400 shares during the period. Jane Street Group LLC boosted its holdings in Marcus & Millichap by 542.1% in the fourth quarter. Jane Street Group LLC now owns 269,722 shares of the real estate investment trust’s stock valued at $7,361,000 after acquiring an additional 227,719 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Marcus & Millichap in the fourth quarter worth about $5,335,000. 62.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on MMI. Wall Street Zen raised Marcus & Millichap from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of Marcus & Millichap from a “sell (d)” rating to a “hold (c-)” rating in a research report on Friday. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Marcus & Millichap currently has an average rating of “Reduce” and an average target price of $28.00.

Marcus & Millichap Stock Up 0.2%

MMI stock opened at $32.48 on Wednesday. The business’s fifty day moving average is $31.03 and its 200-day moving average is $28.71. The company has a market cap of $1.23 billion, a P/E ratio of 87.78 and a beta of 1.23. Marcus & Millichap, Inc. has a twelve month low of $24.43 and a twelve month high of $33.62.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings data on Thursday, August 6th. The real estate investment trust reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. The business had revenue of $202.91 million during the quarter, compared to analysts’ expectations of $194.30 million. Marcus & Millichap had a return on equity of 2.97% and a net margin of 1.77%.

Marcus & Millichap Dividend Announcement

The business also recently announced a dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.25 per share. This represents a dividend yield of 163.0%. The ex-dividend date is Tuesday, September 15th. Marcus & Millichap’s payout ratio is presently 135.14%.

Marcus & Millichap Company Profile

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.