Marcus & Millichap, Inc. (NYSE:MMI) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in Marcus & Millichap, Inc. (NYSE:MMI) by 61.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,089 shares of the real estate investment trust’s stock after buying an additional 46,865 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.32% of Marcus & Millichap worth $4,709,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Marcus & Millichap during the 4th quarter valued at about $66,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Marcus & Millichap in the 4th quarter valued at approximately $172,000. Heritage Family Offices LLP raised its stake in shares of Marcus & Millichap by 7.1% in the 4th quarter. Heritage Family Offices LLP now owns 7,030 shares of the real estate investment trust’s stock valued at $269,000 after acquiring an additional 464 shares during the period. Handelsbanken Fonder AB lifted its stake in Marcus & Millichap by 11.6% during the fourth quarter. Handelsbanken Fonder AB now owns 8,666 shares of the real estate investment trust’s stock worth $332,000 after purchasing an additional 900 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Marcus & Millichap by 12.0% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 9,686 shares of the real estate investment trust’s stock worth $371,000 after buying an additional 1,035 shares during the period. 62.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Marcus & Millichap

In other Marcus & Millichap news, insider Gregory A. Laberge sold 2,915 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $34.78, for a total value of $101,383.70. Following the transaction, the insider now directly owns 2,307 shares in the company, valued at $80,237.46. This represents a 55.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 39.20% of the company’s stock.

Marcus & Millichap Trading Up 1.4 %

MMI opened at $31.24 on Friday. Marcus & Millichap, Inc. has a 12-month low of $29.36 and a 12-month high of $42.80. The stock’s 50-day moving average price is $35.17 and its 200 day moving average price is $37.32. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -97.61 and a beta of 1.17.

Marcus & Millichap (NYSE:MMI) last released its earnings results on Friday, February 14th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.28. Marcus & Millichap had a negative return on equity of 1.98% and a negative net margin of 1.78%. The firm had revenue of $240.08 million during the quarter. During the same quarter last year, the business posted ($0.27) earnings per share.

Marcus & Millichap Dividend Announcement

The company also recently disclosed a semi-annual dividend, which was paid on Friday, April 4th. Stockholders of record on Wednesday, March 12th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 12th. This represents a dividend yield of 1.3%. Marcus & Millichap’s dividend payout ratio (DPR) is currently -156.25%.

Marcus & Millichap Profile

Marcus & Millichap, Inc engages in the provision of investment real estate brokerage services. It specializes in commercial real estate investment sales, property financing, research, and advisory services. The company was founded by George M. Marcus and William A. Millichap in 1971 and is headquartered in Calabasas, CA.