Marcus & Millichap, Inc. (NYSE:MMI - Get Free Report) CEO Hessam Nadji sold 1,300 shares of the company's stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $25.60, for a total transaction of $33,280.00. Following the transaction, the chief executive officer directly owned 480 shares of the company's stock, valued at approximately $12,288. This trade represents a 73.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Marcus & Millichap Trading Up 1.8%
Marcus & Millichap stock opened at $25.89 on Tuesday. The firm has a 50-day moving average of $26.38 and a 200-day moving average of $28.43. The firm has a market cap of $989.88 million, a P/E ratio of -647.09 and a beta of 1.32. Marcus & Millichap, Inc. has a 1-year low of $24.43 and a 1-year high of $36.70.
Marcus & Millichap (NYSE:MMI - Get Free Report) last posted its earnings results on Friday, February 13th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.12. The company had revenue of $243.95 million for the quarter, compared to analysts' expectations of $229.45 million. Marcus & Millichap had a positive return on equity of 0.20% and a negative net margin of 0.25%.
Marcus & Millichap Announces Dividend
The firm also recently disclosed a dividend, which will be paid on Friday, April 3rd. Stockholders of record on Friday, March 13th will be given a $0.25 dividend. This represents a dividend yield of 196.0%. The ex-dividend date is Friday, March 13th. Marcus & Millichap's dividend payout ratio (DPR) is currently -1,250.00%.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on MMI. Wells Fargo & Company decreased their target price on Marcus & Millichap from $29.00 to $28.00 and set an "underweight" rating for the company in a report on Monday, February 2nd. Wall Street Zen cut shares of Marcus & Millichap from a "buy" rating to a "hold" rating in a report on Sunday, December 28th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Marcus & Millichap in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Sell" and an average target price of $28.00.
Read Our Latest Report on Marcus & Millichap
Institutional Trading of Marcus & Millichap
Large investors have recently bought and sold shares of the company. Savant Capital LLC grew its holdings in shares of Marcus & Millichap by 5.7% during the 3rd quarter. Savant Capital LLC now owns 9,632 shares of the real estate investment trust's stock worth $283,000 after acquiring an additional 519 shares during the period. Hunter Perkins Capital Management LLC lifted its stake in shares of Marcus & Millichap by 1.9% in the 4th quarter. Hunter Perkins Capital Management LLC now owns 31,130 shares of the real estate investment trust's stock valued at $850,000 after purchasing an additional 580 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Marcus & Millichap by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust's stock valued at $481,000 after purchasing an additional 600 shares during the period. Illinois Municipal Retirement Fund boosted its position in shares of Marcus & Millichap by 4.9% during the third quarter. Illinois Municipal Retirement Fund now owns 12,807 shares of the real estate investment trust's stock valued at $376,000 after purchasing an additional 601 shares in the last quarter. Finally, AlphaQuest LLC boosted its position in shares of Marcus & Millichap by 6.4% during the third quarter. AlphaQuest LLC now owns 11,649 shares of the real estate investment trust's stock valued at $342,000 after purchasing an additional 696 shares in the last quarter. 62.78% of the stock is owned by institutional investors.
Marcus & Millichap Company Profile
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Get Free Report)
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.
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