Marcus & Millichap Inc (MMI) Cut to Strong Sell at Zacks Investment Research

Zacks Investment Research cut shares of Marcus & Millichap Inc (NYSE:MMI) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday.

According to Zacks, “Marcus & Millichap, Inc. operates a brokerage firm specializing in real estate investments. It offers commercial real estate investment brokerage services for multifamily, retail, office, industrial, land, self-storage, seniors housing, manufactured housing, and mixed-use/other property types. The company also provides a range of advisory and consulting services to developers, lenders, owners, real estate investment trusts, high net worth individuals, pension fund advisors, and other institutions. Marcus & Millichap, Inc. is based in Calabasas, California. “

Several other brokerages have also recently weighed in on MMI. Citigroup Inc started coverage on Marcus & Millichap in a research note on Tuesday, December 20th. They set a neutral rating on the stock. Wells Fargo & Co restated a hold rating and set a $27.00 price objective on shares of Marcus & Millichap in a research note on Thursday, December 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $27.00.

Shares of Marcus & Millichap (NYSE:MMI) traded down 0.73% during midday trading on Wednesday, hitting $26.01. 20,190 shares of the stock were exchanged. The firm has a market capitalization of $985.31 million, a price-to-earnings ratio of 15.67 and a beta of 1.57. Marcus & Millichap has a 1-year low of $22.93 and a 1-year high of $30.31. The stock’s 50-day moving average price is $26.49 and its 200-day moving average price is $26.00.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings data on Thursday, March 9th. The real estate investment trust reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. Marcus & Millichap had a return on equity of 31.33% and a net margin of 9.22%. The business had revenue of $189.20 million for the quarter, compared to analysts’ expectations of $192.93 million. During the same period last year, the business earned $0.51 EPS. The business’s revenue was down 6.9% on a year-over-year basis. On average, analysts forecast that Marcus & Millichap will post $1.65 EPS for the current year.

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In other Marcus & Millichap news, CFO Martin E. Louie sold 28,107 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $26.56, for a total transaction of $746,521.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP William E. Hughes sold 6,541 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $27.99, for a total value of $183,082.59. Following the transaction, the senior vice president now owns 40,540 shares in the company, valued at $1,134,714.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,148 shares of company stock worth $1,081,515. Company insiders own 61.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of MMI. Royce & Associates LP boosted its position in shares of Marcus & Millichap by 4.5% in the fourth quarter. Royce & Associates LP now owns 2,525,623 shares of the real estate investment trust’s stock valued at $67,485,000 after buying an additional 108,713 shares during the period. Route One Investment Company L.P. raised its stake in shares of Marcus & Millichap by 32.2% in the fourth quarter. Route One Investment Company L.P. now owns 1,508,551 shares of the real estate investment trust’s stock valued at $40,308,000 after buying an additional 367,189 shares in the last quarter. Aberdeen Asset Management PLC UK acquired a new stake in shares of Marcus & Millichap during the fourth quarter valued at about $24,075,000. Dimensional Fund Advisors LP raised its stake in shares of Marcus & Millichap by 20.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 553,391 shares of the real estate investment trust’s stock valued at $14,787,000 after buying an additional 92,168 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Marcus & Millichap by 1.9% in the fourth quarter. State Street Corp now owns 248,564 shares of the real estate investment trust’s stock valued at $6,642,000 after buying an additional 4,604 shares in the last quarter. Institutional investors and hedge funds own 34.26% of the company’s stock.

Marcus & Millichap Company Profile

Marcus & Millichap, Inc is a brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. The Company also offers market research, consulting and advisory services to its clients. It also offers two services to its clients, such as commercial real estate investment brokerage, and financing and ancillary services.

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