New York State Teachers Retirement System Reduces Stock Position in Marcus & Millichap, Inc. (NYSE:MMI)

New York State Teachers Retirement System lessened its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 10.7% in the fourth quarter, HoldingsChannel reports. The firm owned 21,502 shares of the real estate investment trust’s stock after selling 2,568 shares during the quarter. New York State Teachers Retirement System’s holdings in Marcus & Millichap were worth $939,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new stake in Marcus & Millichap in the 2nd quarter worth about $58,000. Captrust Financial Advisors boosted its stake in Marcus & Millichap by 23.1% in the 2nd quarter. Captrust Financial Advisors now owns 1,825 shares of the real estate investment trust’s stock worth $68,000 after buying an additional 342 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Marcus & Millichap in the 3rd quarter worth about $75,000. Tower Research Capital LLC TRC lifted its stake in shares of Marcus & Millichap by 446.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,783 shares of the real estate investment trust’s stock valued at $88,000 after purchasing an additional 2,274 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of Marcus & Millichap by 49.9% in the 2nd quarter. Royal Bank of Canada now owns 2,843 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 946 shares in the last quarter. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Insiders Place Their Bets

In other Marcus & Millichap news, COO John David Parker sold 9,716 shares of Marcus & Millichap stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $32.83, for a total transaction of $318,976.28. Following the sale, the chief operating officer now directly owns 12,376 shares in the company, valued at approximately $406,304.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Marcus & Millichap news, COO John David Parker sold 9,716 shares of Marcus & Millichap stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $32.83, for a total transaction of $318,976.28. Following the sale, the chief operating officer now directly owns 12,376 shares in the company, valued at approximately $406,304.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Richard D. Matricaria sold 9,500 shares of Marcus & Millichap stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $33.32, for a total value of $316,540.00. Following the sale, the chief operating officer now owns 7,078 shares in the company, valued at $235,838.96. The disclosure for this sale can be found here. 39.20% of the stock is owned by company insiders.

Marcus & Millichap Stock Performance

Shares of NYSE:MMI opened at $31.02 on Friday. The company has a market cap of $1.19 billion, a P/E ratio of -34.85 and a beta of 1.20. Marcus & Millichap, Inc. has a one year low of $26.81 and a one year high of $44.24. The business’s 50-day simple moving average is $34.62 and its 200 day simple moving average is $34.81.

Marcus & Millichap (NYSE:MMI) last announced its earnings results on Friday, February 16th. The real estate investment trust reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.01. The business had revenue of $166.24 million for the quarter. Marcus & Millichap had a negative return on equity of 5.16% and a negative net margin of 5.27%.

Marcus & Millichap Announces Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Friday, April 5th. Investors of record on Tuesday, March 12th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, March 11th. This represents a dividend yield of 1.3%. Marcus & Millichap’s payout ratio is currently -56.18%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Marcus & Millichap from a “hold” rating to a “sell” rating in a research note on Monday, March 25th.

Marcus & Millichap 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.