Marcus & Millichap, Inc. (NYSE:MMI) to Issue $0.25 Dividend

Marcus & Millichap, Inc. (NYSE:MMI) declared a dividend on Monday, August 3rd. Investors of record on Tuesday, September 15th will be given a dividend of 0.25 per share by the real estate investment trust on Tuesday, October 6th. This represents a dividend yield of 163.0%. The ex-dividend date is Tuesday, September 15th.

Marcus & Millichap has a dividend payout ratio of 73.5% indicating that its dividend is sufficiently covered by earnings.

Marcus & Millichap Trading Up 0.1%

NYSE:MMI traded up $0.02 during midday trading on Monday, hitting $30.77. 136,962 shares of the company were exchanged, compared to its average volume of 243,205. The company has a fifty day simple moving average of $30.31 and a 200 day simple moving average of $28.11. Marcus & Millichap has a fifty-two week low of $24.43 and a fifty-two week high of $33.62. The company has a market capitalization of $1.16 billion, a PE ratio of -3,073.83 and a beta of 1.23.

Marcus & Millichap (NYSE:MMI) last announced its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). Marcus & Millichap had a negative net margin of 0.08% and a positive return on equity of 0.43%. The firm had revenue of $171.47 million during the quarter, compared to analysts’ expectations of $162.20 million. During the same period in the previous year, the company earned ($0.11) earnings per share. Marcus & Millichap’s quarterly revenue was up 18.3% compared to the same quarter last year.

Institutional Trading of Marcus & Millichap

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Marcus & Millichap by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 3,816,951 shares of the real estate investment trust’s stock valued at $104,165,000 after purchasing an additional 86,609 shares during the period. Pzena Investment Management LLC lifted its holdings in shares of Marcus & Millichap by 227.6% during the first quarter. Pzena Investment Management LLC now owns 2,012,763 shares of the real estate investment trust’s stock worth $53,519,000 after purchasing an additional 1,398,441 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Marcus & Millichap by 3.0% during 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 purchasing an additional 43,196 shares during the period. State Street Corp grew its position in Marcus & Millichap by 3.0% in the 4th quarter. State Street Corp now owns 951,032 shares of the real estate investment trust’s stock valued at $25,954,000 after buying an additional 27,275 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Marcus & Millichap by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 385,116 shares of the real estate investment trust’s stock valued at $10,510,000 after buying an additional 3,547 shares during the last quarter. 62.78% of the stock is owned by institutional investors and hedge funds.

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.