Marcus & Millichap (NYSE:MMI) Lowered to “Hold” Rating by Wall Street Zen

Marcus & Millichap (NYSE:MMI) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company cut their price objective on shares of Marcus & Millichap from $30.00 to $29.00 and set an “underweight” rating on the stock in a research report on Friday, October 24th. Weiss Ratings restated a “sell (d+)” rating on shares of Marcus & Millichap in a research note on Monday, December 22nd. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Marcus & Millichap currently has an average rating of “Reduce” and a consensus target price of $29.00.

Marcus & Millichap Trading Down 1.0%

MMI opened at $27.55 on Friday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -172.19 and a beta of 1.32. Marcus & Millichap has a 12 month low of $27.10 and a 12 month high of $41.94. The stock has a fifty day moving average price of $29.10 and a 200-day moving average price of $30.28.

Marcus & Millichap (NYSE:MMI) last posted its earnings results on Friday, November 7th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.13. The company had revenue of $193.89 million for the quarter, compared to analyst estimates of $183.10 million. Marcus & Millichap had a negative return on equity of 0.58% and a negative net margin of 0.89%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC grew its position in shares of Marcus & Millichap by 260.9% during the 2nd quarter. Hsbc Holdings PLC now owns 47,328 shares of the real estate investment trust’s stock valued at $1,440,000 after acquiring an additional 34,215 shares during the period. American Century Companies Inc. boosted its position in Marcus & Millichap by 9.8% during the first quarter. American Century Companies Inc. now owns 60,716 shares of the real estate investment trust’s stock worth $2,092,000 after purchasing an additional 5,430 shares in the last quarter. Pzena Investment Management LLC boosted its position in Marcus & Millichap by 6.6% during the second quarter. Pzena Investment Management LLC now owns 614,410 shares of the real estate investment trust’s stock worth $18,869,000 after purchasing an additional 38,159 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Marcus & Millichap by 7.9% in the second quarter. State of Alaska Department of Revenue now owns 14,383 shares of the real estate investment trust’s stock valued at $441,000 after buying an additional 1,050 shares in the last quarter. Finally, Reinhart Partners LLC. increased its position in shares of Marcus & Millichap by 2.4% in the second quarter. Reinhart Partners LLC. now owns 2,214,779 shares of the real estate investment trust’s stock valued at $68,016,000 after buying an additional 51,844 shares in the last quarter. Institutional investors and hedge funds own 62.78% of the company’s stock.

About Marcus & Millichap

Marcus & Millichap (NYSE: MMI) is a leading commercial real estate brokerage firm focused on investment sales, financing, research and advisory services. Founded in 1971 by George M. Marcus and William A. Millichap, the company has grown to specialize in the marketing of multifamily, retail, office, industrial, hospitality and other commercial property types. Through an extensive network of investment specialists, Marcus & Millichap connects property owners and investors with tailored transactions across a range of asset classes.

The firm offers comprehensive capital markets solutions, including debt and equity placement, structured finance, and customized financing programs.