Wells Fargo & Company MN Increases Position in Marcus & Millichap, Inc. (NYSE:MMI)

Wells Fargo & Company MN boosted its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 9.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 76,024 shares of the real estate investment trust’s stock after buying an additional 6,832 shares during the quarter. Wells Fargo & Company MN owned approximately 0.20% of Marcus & Millichap worth $2,909,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. R Squared Ltd bought a new position in shares of Marcus & Millichap during the 4th quarter worth $66,000. KLP Kapitalforvaltning AS bought a new position in shares of Marcus & Millichap in the fourth quarter worth approximately $172,000. Heritage Family Offices LLP raised its position in shares of Marcus & Millichap by 7.1% during 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 buying an additional 464 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Marcus & Millichap by 5.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,756 shares of the real estate investment trust’s stock valued at $297,000 after purchasing an additional 421 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in shares of Marcus & Millichap by 11.6% during the 4th quarter. Handelsbanken Fonder AB now owns 8,666 shares of the real estate investment trust’s stock valued at $332,000 after buying an additional 900 shares in the last quarter. 62.78% of the stock is owned by institutional investors.

Marcus & Millichap Stock Performance

Shares of Marcus & Millichap stock opened at $30.74 on Thursday. The company has a fifty day moving average of $34.74 and a 200-day moving average of $37.19. Marcus & Millichap, Inc. has a 52-week low of $29.36 and a 52-week high of $42.80. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -96.06 and a beta of 1.17.

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

Marcus & Millichap Dividend Announcement

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

Insider Buying and Selling at Marcus & Millichap

In related news, insider Gregory A. Laberge sold 2,915 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $34.78, for a total transaction of $101,383.70. Following the completion of the transaction, the insider now owns 2,307 shares of the company’s stock, valued at $80,237.46. This trade represents a 55.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 39.20% of the company’s stock.

About Marcus & Millichap

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.