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

Marcus & Millichap (NYSE:MMI) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Marcus & Millichap in a report on Monday, December 22nd. Wells Fargo & Company dropped their price target on Marcus & Millichap from $30.00 to $29.00 and set an “underweight” rating for the company in a research report on Friday, October 24th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Marcus & Millichap currently has a consensus rating of “Reduce” and a consensus target price of $29.00.

Marcus & Millichap Stock Down 1.0%

Shares of NYSE MMI opened at $27.55 on Friday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -172.19 and a beta of 1.32. The company’s 50-day simple moving average is $29.10 and its 200-day simple moving average is $30.28. Marcus & Millichap has a 52-week low of $27.10 and a 52-week high of $41.94.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings results on Friday, November 7th. The real estate investment trust reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.13. The firm had revenue of $193.89 million during the quarter, compared to the consensus estimate of $183.10 million. Marcus & Millichap had a negative net margin of 0.89% and a negative return on equity of 0.58%.

Institutional Investors Weigh In On Marcus & Millichap

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Reinhart Partners LLC. lifted its position in Marcus & Millichap by 2.4% during the second quarter. Reinhart Partners LLC. now owns 2,214,779 shares of the real estate investment trust’s stock worth $68,016,000 after buying an additional 51,844 shares in the last quarter. Tributary Capital Management LLC increased its stake in shares of Marcus & Millichap by 92.4% in the 3rd quarter. Tributary Capital Management LLC now owns 1,339,094 shares of the real estate investment trust’s stock worth $39,302,000 after acquiring an additional 643,277 shares during the last quarter. Pzena Investment Management LLC increased its stake in shares of Marcus & Millichap by 2.8% in the 3rd quarter. Pzena Investment Management LLC now owns 631,330 shares of the real estate investment trust’s stock worth $18,530,000 after acquiring an additional 16,920 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Marcus & Millichap by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 625,781 shares of the real estate investment trust’s stock worth $19,219,000 after acquiring an additional 11,819 shares during the period. Finally, Jennison Associates LLC boosted its position in shares of Marcus & Millichap by 7.4% during the 2nd quarter. Jennison Associates LLC now owns 282,533 shares of the real estate investment trust’s stock valued at $8,677,000 after acquiring an additional 19,351 shares during the last quarter. Institutional investors and hedge funds 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.