Marcus & Millichap (NYSE:MMI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Marcus & Millichap (NYSE:MMI) from a hold rating to a strong-buy rating in a research note released on Saturday morning.

Separately, Weiss Ratings lowered Marcus & Millichap from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Marcus & Millichap presently has a consensus rating of “Sell” and an average price target of $28.00.

Marcus & Millichap Stock Performance

Shares of MMI opened at $30.62 on Friday. The company has a 50-day simple moving average of $30.63 and a 200-day simple moving average of $28.30. Marcus & Millichap has a 52 week low of $24.43 and a 52 week high of $33.62. The firm has a market capitalization of $1.16 billion, a P/E ratio of 82.76 and a beta of 1.23.

Marcus & Millichap (NYSE:MMI) last released its earnings results on Thursday, August 6th. The real estate investment trust reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. The business had revenue of $202.91 million for the quarter, compared to the consensus estimate of $194.30 million. Marcus & Millichap had a return on equity of 2.97% and a net margin of 1.77%.

Marcus & Millichap Dividend Announcement

The firm also recently declared a dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be given a $0.25 dividend. This represents a yield of 163.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Marcus & Millichap’s dividend payout ratio is 135.14%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC bought a new stake in shares of Marcus & Millichap in the 4th quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Marcus & Millichap by 79,800.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,598 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 1,596 shares in the last quarter. State of Wyoming bought a new position in shares of Marcus & Millichap during the 1st quarter worth approximately $64,000. Strs Ohio bought a new position in shares of Marcus & Millichap during the 1st quarter worth approximately $145,000. Finally, Quantbot Technologies LP acquired a new stake in Marcus & Millichap in the 2nd quarter valued at $137,000. 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.