Marcus & Millichap, Inc. $MMI Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its position in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 5.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,352 shares of the real estate investment trust’s stock after selling 3,681 shares during the period. Rhumbline Advisers owned approximately 0.18% of Marcus & Millichap worth $2,389,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MMI. AlphaQuest LLC grew its holdings in Marcus & Millichap by 410.6% during the 1st quarter. AlphaQuest LLC now owns 2,931 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 2,357 shares in the last quarter. Strs Ohio purchased a new position in Marcus & Millichap in the 1st quarter valued at about $145,000. State of Wyoming purchased a new position in Marcus & Millichap in the 4th quarter valued at about $156,000. MQS Management LLC acquired a new stake in shares of Marcus & Millichap during the first quarter valued at about $210,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Marcus & Millichap during the fourth quarter worth about $230,000. 62.78% of the stock is owned by institutional investors and hedge funds.

Marcus & Millichap Trading Down 1.1%

Shares of MMI opened at $31.81 on Wednesday. Marcus & Millichap, Inc. has a 52 week low of $27.61 and a 52 week high of $42.80. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -102.61 and a beta of 1.29. The stock has a 50 day moving average of $31.55 and a 200-day moving average of $31.66.

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

Marcus & Millichap Dividend Announcement

The firm 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 given a $0.25 dividend. This represents a dividend yield of 156.0%. The ex-dividend date is Monday, September 15th. Marcus & Millichap’s dividend payout ratio (DPR) is presently -161.29%.

Wall Street Analyst Weigh In

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

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.