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

Marcus & Millichap (NYSE:MMI) had its price target decreased by equities researchers at Wells Fargo & Company from $29.00 to $28.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 2.56% from the company’s previous close.

MMI has been the subject of several other research reports. Wall Street Zen downgraded Marcus & Millichap from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Marcus & Millichap in a report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $28.00.

Marcus & Millichap Stock Up 0.4%

Shares of NYSE MMI traded up $0.10 during trading on Monday, reaching $27.30. 10,176 shares of the stock were exchanged, compared to its average volume of 260,257. The business’s 50-day moving average price is $27.71 and its 200 day moving average price is $29.54. Marcus & Millichap has a twelve month low of $25.30 and a twelve month high of $41.94. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -170.63 and a beta of 1.32.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Savant Capital LLC raised its holdings in 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 purchasing an additional 519 shares during the last quarter. Hunter Perkins Capital Management LLC lifted its position in shares of Marcus & Millichap by 1.9% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 31,130 shares of the real estate investment trust’s stock worth $850,000 after buying an additional 580 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 worth $481,000 after buying an additional 600 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in 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 buying an additional 601 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Marcus & Millichap by 2.1% in 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 buying an additional 685 shares in the last quarter. 62.78% of the stock is currently owned by 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.