Maryland State Retirement & Pension System Lowers Position in Marcus & Millichap, Inc. $MMI

Maryland State Retirement & Pension System decreased its position in Marcus & Millichap, Inc. (NYSE:MMI) by 13.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,022 shares of the real estate investment trust’s stock after selling 1,084 shares during the period. Maryland State Retirement & Pension System’s holdings in Marcus & Millichap were worth $242,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in Marcus & Millichap by 2.7% during the first quarter. Principal Financial Group Inc. now owns 119,789 shares of the real estate investment trust’s stock worth $4,127,000 after buying an additional 3,095 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in Marcus & Millichap by 11.4% during the first quarter. New York State Teachers Retirement System now owns 23,618 shares of the real estate investment trust’s stock worth $814,000 after buying an additional 2,416 shares in the last quarter. Deutsche Bank AG boosted its holdings in Marcus & Millichap by 54.1% during the fourth quarter. Deutsche Bank AG now owns 21,494 shares of the real estate investment trust’s stock worth $822,000 after buying an additional 7,542 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Marcus & Millichap by 4,330.3% during the first quarter. GAMMA Investing LLC now owns 20,911 shares of the real estate investment trust’s stock worth $720,000 after buying an additional 20,439 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Marcus & Millichap during the first quarter worth about $1,122,000. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Citizens Jmp assumed coverage on shares of Marcus & Millichap in a report on Monday, July 21st. They set a “market perform” rating on the stock. JMP Securities assumed coverage on shares of Marcus & Millichap in a research note on Monday, July 21st. They set a “market perform” rating on the stock. Finally, Wall Street Zen downgraded shares of Marcus & Millichap from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th.

Marcus & Millichap Stock Down 0.6%

Marcus & Millichap stock opened at $30.60 on Tuesday. Marcus & Millichap, Inc. has a 52-week low of $27.61 and a 52-week high of $42.80. The firm has a fifty day moving average of $31.04 and a 200-day moving average of $32.46. The firm has a market capitalization of $1.19 billion, a P/E ratio of -98.70 and a beta of 1.27.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.24). The firm had revenue of $172.28 million for the quarter, compared to analyst estimates of $172.60 million. Marcus & Millichap had a negative net margin of 1.69% and a negative return on equity of 1.99%.

Marcus & Millichap Announces Dividend

The company also recently declared a half year 25 dividend, which will be paid on Monday, October 6th. Investors of record on Monday, September 15th will be issued a dividend of $0.25 per share. This represents a yield of 160.0%. The ex-dividend date of this dividend is Monday, September 15th. Marcus & Millichap’s dividend payout ratio (DPR) is presently -161.29%.

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.