Marcus & Millichap (NYSE:MMI) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of Marcus & Millichap (NYSE:MMI) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of Marcus & Millichap from a “sell (d)” rating to a “hold (c-)” rating in a research report on Friday, August 21st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $28.00.

Marcus & Millichap Stock Down 0.1%

Shares of MMI stock opened at $31.87 on Friday. The business has a 50-day moving average price of $31.39 and a two-hundred day moving average price of $29.08. Marcus & Millichap has a 12-month low of $24.43 and a 12-month high of $33.62. The firm has a market cap of $1.21 billion, a P/E ratio of 86.14 and a beta of 1.23.

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, beating the consensus estimate of $0.03 by $0.07. The firm had revenue of $202.91 million for the quarter, compared to analyst estimates of $194.30 million. Marcus & Millichap had a return on equity of 2.97% and a net margin of 1.77%.

Marcus & Millichap Announces Dividend

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

Institutional Investors Weigh In On Marcus & Millichap

Institutional investors have recently bought and sold shares of the stock. Quantinno Capital Management LP lifted its position in Marcus & Millichap by 348.4% in the first quarter. Quantinno Capital Management LP now owns 51,913 shares of the real estate investment trust’s stock valued at $1,380,000 after purchasing an additional 40,335 shares during the last quarter. Pzena Investment Management LLC bought a new position in shares of Marcus & Millichap in the second quarter worth approximately $66,735,000. BlackRock Inc. bought a new position in shares of Marcus & Millichap in the second quarter worth approximately $112,801,000. Ieq Capital LLC purchased a new position in shares of Marcus & Millichap in the second quarter worth $1,705,000. Finally, Pacer Advisors Inc. purchased a new position in shares of Marcus & Millichap in the first quarter worth $2,411,000. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

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.