Marcus & Millichap (NYSE:MMI) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Marcus & Millichap (NYSE:MMI) from a buy rating to a hold rating in a research report released on Sunday morning.

Several other analysts also recently commented on MMI. Weiss Ratings reiterated a “sell (d+)” rating on shares of Marcus & Millichap in a report on Monday, December 22nd. Wells Fargo & Company reduced their target price on Marcus & Millichap from $30.00 to $29.00 and set an “underweight” rating for the company in a report on Friday, October 24th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $29.00.

Marcus & Millichap Stock Performance

Shares of MMI opened at $27.43 on Friday. Marcus & Millichap has a 52 week low of $27.10 and a 52 week high of $41.94. The stock has a 50 day moving average price of $29.01 and a two-hundred day moving average price of $30.24. The firm has a market capitalization of $1.07 billion, a P/E ratio of -171.43 and a beta of 1.32.

Marcus & Millichap (NYSE:MMI) last announced 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 analysts’ expectations of $183.10 million. Marcus & Millichap had a negative return on equity of 0.58% and a negative net margin of 0.89%.

Institutional Trading of Marcus & Millichap

A number of institutional investors have recently modified their holdings of the business. Savant Capital LLC boosted its holdings in Marcus & Millichap by 5.7% in the 3rd quarter. Savant Capital LLC now owns 9,632 shares of the real estate investment trust’s stock worth $283,000 after buying an additional 519 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Marcus & Millichap by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,952 shares of the real estate investment trust’s stock worth $481,000 after acquiring an additional 600 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of Marcus & Millichap by 4.9% in the third quarter. Illinois Municipal Retirement Fund now owns 12,807 shares of the real estate investment trust’s stock worth $376,000 after acquiring an additional 601 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Marcus & Millichap by 2.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 34,025 shares of the real estate investment trust’s stock valued at $1,045,000 after purchasing an additional 685 shares during the period. Finally, AlphaQuest LLC raised its stake in shares of Marcus & Millichap by 6.4% during the 3rd 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 during the period. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

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.