California State Teachers Retirement System trimmed its holdings in shares of Marcus & Millichap, Inc. (NYSE:MMI – Free Report) by 2.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,836 shares of the real estate investment trust’s stock after selling 802 shares during the period. California State Teachers Retirement System owned approximately 0.08% of Marcus & Millichap worth $1,022,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in MMI. US Bancorp DE lifted its holdings in shares of Marcus & Millichap by 20.0% during the 1st quarter. US Bancorp DE now owns 9,164 shares of the real estate investment trust’s stock valued at $294,000 after buying an additional 1,528 shares during the period. Cambiar Investors LLC lifted its holdings in shares of Marcus & Millichap by 15.9% during the 1st quarter. Cambiar Investors LLC now owns 71,948 shares of the real estate investment trust’s stock valued at $2,310,000 after buying an additional 9,884 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Marcus & Millichap by 29.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,199 shares of the real estate investment trust’s stock valued at $135,000 after buying an additional 956 shares during the period. Pitcairn Co. lifted its holdings in shares of Marcus & Millichap by 23.8% during the 1st quarter. Pitcairn Co. now owns 11,593 shares of the real estate investment trust’s stock valued at $372,000 after buying an additional 2,231 shares during the period. Finally, First National Bank of Omaha lifted its holdings in shares of Marcus & Millichap by 19.6% during the 1st quarter. First National Bank of Omaha now owns 23,041 shares of the real estate investment trust’s stock valued at $740,000 after buying an additional 3,770 shares during the period. 60.62% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target on Marcus & Millichap from $21.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, June 30th. StockNews.com started coverage on Marcus & Millichap in a report on Thursday, August 17th. They issued a “hold” rating on the stock.
Marcus & Millichap Stock Performance
Shares of Marcus & Millichap stock opened at $33.51 on Friday. Marcus & Millichap, Inc. has a one year low of $27.49 and a one year high of $39.45. The stock’s fifty day moving average is $34.14 and its 200 day moving average is $32.53. The stock has a market cap of $1.29 billion, a P/E ratio of 95.74 and a beta of 1.06.
Marcus & Millichap (NYSE:MMI – Get Free Report) last announced its earnings results on Friday, August 4th. The real estate investment trust reported ($0.23) EPS for the quarter, hitting analysts’ consensus estimates of ($0.23). The company had revenue of $162.87 million for the quarter. Marcus & Millichap had a return on equity of 2.11% and a net margin of 1.63%. During the same period in the prior year, the business posted $1.04 earnings per share.
Marcus & Millichap Dividend Announcement
The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, September 14th. This represents a yield of 1.3%. Marcus & Millichap’s dividend payout ratio is presently 142.86%.
Insider Buying and Selling at Marcus & Millichap
In other Marcus & Millichap news, Director Don C. Watters sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $31.89, for a total transaction of $382,680.00. Following the sale, the director now directly owns 8,337 shares of the company’s stock, valued at $265,866.93. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 39.20% of the company’s stock.
Marcus & Millichap Company Profile
Marcus & Millichap, Inc, an investment brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets.
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