Marcus & Millichap (NYSE:MMI) Price Target Lowered to $28.00 at Wells Fargo & Company

Marcus & Millichap (NYSE:MMI) had its target price decreased by Wells Fargo & Company from $29.00 to $28.00 in a report released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the real estate investment trust’s stock.

Several other equities analysts have also issued reports on MMI. Wall Street Zen lowered Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of Marcus & Millichap in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Marcus & Millichap presently has a consensus rating of “Reduce” and a consensus target price of $28.00.

Marcus & Millichap Stock Performance

Shares of Marcus & Millichap stock opened at $26.87 on Monday. The firm has a fifty day moving average of $27.66 and a two-hundred day moving average of $29.51. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -167.94 and a beta of 1.32. Marcus & Millichap has a 52 week low of $25.30 and a 52 week high of $41.94.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings results on Friday, November 7th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.13. The business 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

A number of institutional investors have recently bought and sold shares of the stock. Tributary Capital Management LLC increased its position in shares of Marcus & Millichap by 92.4% during the third quarter. Tributary Capital Management LLC now owns 1,339,094 shares of the real estate investment trust’s stock worth $39,302,000 after acquiring an additional 643,277 shares in the last quarter. Millennium Management LLC increased its holdings in Marcus & Millichap by 1,372.2% during the 3rd quarter. Millennium Management LLC now owns 172,267 shares of the real estate investment trust’s stock worth $5,056,000 after purchasing an additional 160,566 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Marcus & Millichap by 76.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 209,908 shares of the real estate investment trust’s stock valued at $6,446,000 after purchasing an additional 90,737 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Marcus & Millichap by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 3,816,951 shares of the real estate investment trust’s stock valued at $104,165,000 after purchasing an additional 86,609 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Marcus & Millichap by 64.1% during the third quarter. Invesco Ltd. now owns 128,485 shares of the real estate investment trust’s stock worth $3,771,000 after buying an additional 50,204 shares during the period. Institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Company Profile

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.