Marcus & Millichap, Inc. (NYSE:MMI) Announces Dividend of $0.25

Marcus & Millichap, Inc. (NYSE:MMI) announced a dividend on Wednesday, February 11th. Shareholders of record on Friday, March 13th will be paid a dividend of 0.25 per share by the real estate investment trust on Friday, April 3rd. This represents a yield of 190.0%. The ex-dividend date of this dividend is Friday, March 13th.

Marcus & Millichap has a payout ratio of 73.5% meaning its dividend is sufficiently covered by earnings.

Marcus & Millichap Price Performance

Shares of NYSE MMI traded down $0.90 during midday trading on Wednesday, reaching $26.32. 437,580 shares of the stock traded hands, compared to its average volume of 268,946. The company’s 50 day moving average is $27.27 and its 200 day moving average is $29.29. Marcus & Millichap has a one year low of $24.96 and a one year high of $41.94. The stock has a market capitalization of $1.02 billion, a PE ratio of -164.52 and a beta of 1.32.

Hedge Funds Weigh In On Marcus & Millichap

Several institutional investors and hedge funds have recently added to or reduced their stakes in MMI. Hsbc Holdings PLC boosted its holdings in shares of Marcus & Millichap by 260.9% in 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 buying an additional 34,215 shares in the last quarter. Pzena Investment Management LLC lifted 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 valued at $18,869,000 after acquiring an additional 38,159 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Marcus & Millichap by 2.1% in the second quarter. Janney Montgomery Scott LLC now owns 34,025 shares of the real estate investment trust’s stock valued at $1,045,000 after acquiring an additional 685 shares in the last quarter. Jennison Associates LLC grew its holdings in Marcus & Millichap by 7.4% in the second quarter. Jennison Associates LLC now owns 282,533 shares of the real estate investment trust’s stock worth $8,677,000 after purchasing an additional 19,351 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Marcus & Millichap by 1.9% in the second quarter. Geode Capital Management LLC now owns 625,781 shares of the real estate investment trust’s stock worth $19,219,000 after purchasing an additional 11,819 shares during the last quarter. Hedge funds and other institutional investors 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.