Royce & Associates LP Sells 281,649 Shares of Marcus & Millichap, Inc. $MMI

Royce & Associates LP lessened its stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 15.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,562,118 shares of the real estate investment trust’s stock after selling 281,649 shares during the quarter. Royce & Associates LP owned approximately 4.01% of Marcus & Millichap worth $45,848,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. CWM LLC raised its holdings in Marcus & Millichap by 299.6% in the 3rd quarter. CWM LLC now owns 3,261 shares of the real estate investment trust’s stock valued at $96,000 after buying an additional 2,445 shares during the last quarter. LRI Investments LLC grew its holdings in Marcus & Millichap by 316.2% during the 3rd quarter. LRI Investments LLC now owns 3,484 shares of the real estate investment trust’s stock worth $102,000 after acquiring an additional 2,647 shares during the last quarter. Quantbot Technologies LP acquired a new position in Marcus & Millichap in the 2nd quarter valued at approximately $137,000. Strs Ohio bought a new position in shares of Marcus & Millichap during the first quarter valued at $145,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Marcus & Millichap by 769.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,286 shares of the real estate investment trust’s stock valued at $162,000 after acquiring an additional 4,678 shares during the last quarter. 62.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wells Fargo & Company decreased their price target 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 reaffirmed a “sell (d+)” rating on shares of Marcus & Millichap in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Sell” and a consensus target price of $28.00.

Marcus & Millichap Stock Down 0.7%

Shares of NYSE:MMI opened at $26.40 on Friday. Marcus & Millichap, Inc. has a twelve month low of $24.43 and a twelve month high of $39.58. The stock’s 50 day moving average is $26.65 and its 200-day moving average is $28.85. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -659.71 and a beta of 1.32.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings data on Friday, February 13th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.12. Marcus & Millichap had a negative net margin of 0.25% and a positive return on equity of 0.20%. The firm had revenue of $243.95 million for the quarter, compared to the consensus estimate of $229.45 million.

Marcus & Millichap Announces Dividend

The business also recently disclosed a dividend, which will be paid on Friday, April 3rd. Shareholders of record on Friday, March 13th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, March 13th. This represents a yield of 190.0%. Marcus & Millichap’s dividend payout ratio (DPR) is -1,250.00%.

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.