Marcus & Millichap, Inc. $MMI Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lowered its position in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 27.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 133,313 shares of the real estate investment trust’s stock after selling 49,483 shares during the period. Goldman Sachs Group Inc. owned about 0.34% of Marcus & Millichap worth $4,593,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of 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 purchasing an additional 3,095 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of 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 purchasing an additional 2,416 shares in the last quarter. Deutsche Bank AG increased its position in shares of 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 purchasing an additional 7,542 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Marcus & Millichap during the first quarter worth about $2,570,000. Finally, GAMMA Investing LLC increased its position in Marcus & Millichap by 4,330.3% in the 1st quarter. GAMMA Investing LLC now owns 20,911 shares of the real estate investment trust’s stock valued at $720,000 after acquiring an additional 20,439 shares during the period. Institutional investors and hedge funds own 62.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MMI. Wall Street Zen cut Marcus & Millichap from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. JMP Securities began coverage on Marcus & Millichap in a research report on Monday, July 21st. They issued a “market perform” rating on the stock. Finally, Citizens Jmp began coverage on Marcus & Millichap in a research report on Monday, July 21st. They issued a “market perform” rating on the stock. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Marcus & Millichap Trading Down 1.1%

Shares of MMI opened at $31.81 on Wednesday. Marcus & Millichap, Inc. has a twelve month low of $27.61 and a twelve month high of $42.80. The stock’s 50 day moving average is $31.55 and its two-hundred day moving average is $31.66. The firm has a market capitalization of $1.24 billion, a PE ratio of -102.61 and a beta of 1.29.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings data 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 business had revenue of $172.28 million during the quarter, compared to analysts’ expectations 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. Stockholders of record on Monday, September 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a dividend yield of 156.0%. Marcus & Millichap’s payout ratio is -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.