Illinois Municipal Retirement Fund Reduces Position in Marcus & Millichap, Inc. (NYSE:MMI)

Illinois Municipal Retirement Fund cut its holdings in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,506 shares of the real estate investment trust’s stock after selling 681 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Marcus & Millichap were worth $590,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MMI. FMR LLC lifted its holdings in Marcus & Millichap by 132.3% during the third quarter. FMR LLC now owns 816,916 shares of the real estate investment trust’s stock valued at $23,968,000 after purchasing an additional 465,237 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Marcus & Millichap by 109.1% in the fourth quarter. Jennison Associates LLC now owns 466,327 shares of the real estate investment trust’s stock worth $20,369,000 after buying an additional 243,281 shares in the last quarter. Reinhart Partners LLC. lifted its holdings in shares of Marcus & Millichap by 10.1% in the fourth quarter. Reinhart Partners LLC. now owns 1,457,609 shares of the real estate investment trust’s stock worth $63,668,000 after buying an additional 133,308 shares in the last quarter. Pzena Investment Management LLC purchased a new stake in shares of Marcus & Millichap in the third quarter worth about $760,000. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Marcus & Millichap by 2.2% in the third quarter. Lord Abbett & CO. LLC now owns 972,945 shares of the real estate investment trust’s stock worth $28,546,000 after buying an additional 21,100 shares in the last quarter. 62.78% of the stock is owned by hedge funds and other institutional investors.

Marcus & Millichap Price Performance

Shares of MMI opened at $31.71 on Wednesday. The firm’s 50 day simple moving average is $33.66 and its 200 day simple moving average is $35.04. The company has a market capitalization of $1.22 billion, a P/E ratio of -35.63 and a beta of 1.20. Marcus & Millichap, Inc. has a 1-year low of $26.81 and a 1-year high of $44.24.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings results on Friday, February 16th. The real estate investment trust reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.01. Marcus & Millichap had a negative net margin of 5.27% and a negative return on equity of 5.16%. The business had revenue of $166.24 million for the quarter.

Marcus & Millichap Dividend Announcement

The firm also recently declared a Semi-Annual dividend, which was paid on Friday, April 5th. Shareholders of record on Tuesday, March 12th were given a dividend of $0.25 per share. This represents a yield of 1.3%. The ex-dividend date was Monday, March 11th. Marcus & Millichap’s payout ratio is currently -56.18%.

Insider Buying and Selling at Marcus & Millichap

In other Marcus & Millichap news, COO Richard D. Matricaria sold 9,500 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $33.32, for a total transaction of $316,540.00. Following the transaction, the chief operating officer now directly owns 7,078 shares in the company, valued at $235,838.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Richard D. Matricaria sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $33.32, for a total value of $316,540.00. Following the transaction, the chief operating officer now owns 7,078 shares in the company, valued at $235,838.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John David Parker sold 9,716 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $32.83, for a total transaction of $318,976.28. Following the completion of the transaction, the chief operating officer now owns 12,376 shares in the company, valued at approximately $406,304.08. The disclosure for this sale can be found here. Company insiders own 39.89% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Marcus & Millichap from a “hold” rating to a “sell” rating in a report on Monday, March 25th.

About Marcus & Millichap

Marcus & Millichap, Inc, an investment brokerage company, provides real estate investment brokerage and financing services to sellers and buyers of commercial real estate in the United States and Canada. The company offers commercial real estate investment sales, financing, research, and advisory services for multifamily, retail, office, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets.