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

Wall Street Zen lowered shares of Marcus & Millichap (NYSE:MMI) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings raised shares of Marcus & Millichap from a “sell (d)” rating to a “hold (c-)” rating in a research report on Friday, August 21st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Marcus & Millichap has an average rating of “Reduce” and a consensus price target of $28.00.

Marcus & Millichap Stock Down 4.5%

NYSE MMI opened at $26.49 on Friday. The firm has a market capitalization of $1.00 billion, a PE ratio of 67.92 and a beta of 1.25. The stock’s 50 day moving average is $29.21 and its 200 day moving average is $28.78. Marcus & Millichap has a twelve month low of $24.43 and a twelve month high of $33.55.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings data on Friday, November 6th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The firm had revenue of $208.37 million during the quarter, compared to the consensus estimate of $205.05 million. Marcus & Millichap had a return on equity of 2.97% and a net margin of 1.77%.

Institutional Trading of Marcus & Millichap

Several hedge funds and other institutional investors have recently made changes to their positions in MMI. BlackRock Inc. bought a new position in Marcus & Millichap during the 2nd quarter valued at approximately $112,801,000. Pzena Investment Management LLC purchased a new position in Marcus & Millichap during the second quarter valued at $66,735,000. Dimensional Fund Advisors LP boosted its holdings in Marcus & Millichap by 3.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,481,772 shares of the real estate investment trust’s stock worth $39,400,000 after acquiring an additional 43,196 shares in the last quarter. Royce & Associates LP boosted its holdings in Marcus & Millichap by 12.7% in the third quarter. Royce & Associates LP now owns 529,744 shares of the real estate investment trust’s stock worth $15,071,000 after acquiring an additional 59,725 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Marcus & Millichap in the second quarter worth $5,154,000. Hedge funds and other institutional investors own 62.78% of the company’s stock.

About Marcus & Millichap

Marcus & Millichap, Inc is a commercial real estate brokerage company that specializes in investment sales, financing and advisory services. The company serves owners and investors in a range of property sectors, including multifamily, office, retail, industrial, self-storage, hospitality and land.

Through its brokerage professionals and investment banking platform, Marcus & Millichap helps clients market and acquire commercial properties, arrange financing and evaluate real estate investment opportunities.