Marcus & Millichap Inc (MMI) Receives $42.67 Consensus PT from Analysts

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Marcus & Millichap Inc (NYSE:MMI) has been given a consensus rating of “Buy” by the six brokerages that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $41.50.

A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Marcus & Millichap from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Tuesday, June 26th. Citigroup raised their price objective on shares of Marcus & Millichap to $46.00 and gave the stock a “buy” rating in a report on Monday, July 2nd.

Shares of NYSE:MMI traded down $0.25 during midday trading on Thursday, reaching $38.11. 120,890 shares of the company were exchanged, compared to its average volume of 174,776. Marcus & Millichap has a fifty-two week low of $24.34 and a fifty-two week high of $41.45. The company has a quick ratio of 6.40, a current ratio of 6.40 and a debt-to-equity ratio of 0.02. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 3.21 and a beta of 1.32.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings data on Tuesday, August 7th. The real estate investment trust reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. Marcus & Millichap had a net margin of 8.44% and a return on equity of 23.79%. The business had revenue of $199.40 million for the quarter, compared to analyst estimates of $194.60 million. research analysts expect that Marcus & Millichap will post 1.99 earnings per share for the current fiscal year.

In related news, major shareholder Phoenix Investments Holdings L sold 3,000 shares of the firm’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $40.27, for a total transaction of $120,810.00. Following the sale, the insider now directly owns 16,532,215 shares in the company, valued at $665,752,298.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director George M. Marcus sold 17,515 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $38.37, for a total transaction of $672,050.55. Following the sale, the director now owns 18,021 shares in the company, valued at $691,465.77. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,120,395 shares of company stock worth $82,046,011. 58.30% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in MMI. BlackRock Inc. grew its position in Marcus & Millichap by 82.9% in the second quarter. BlackRock Inc. now owns 1,943,505 shares of the real estate investment trust’s stock valued at $75,817,000 after purchasing an additional 880,988 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Marcus & Millichap by 11.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,079,535 shares of the real estate investment trust’s stock valued at $38,928,000 after purchasing an additional 106,974 shares in the last quarter. Prudential Financial Inc. grew its position in Marcus & Millichap by 206.4% in the first quarter. Prudential Financial Inc. now owns 134,401 shares of the real estate investment trust’s stock valued at $4,846,000 after purchasing an additional 90,531 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Marcus & Millichap by 189.3% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 138,278 shares of the real estate investment trust’s stock valued at $5,394,000 after purchasing an additional 90,478 shares in the last quarter. Finally, Millennium Management LLC grew its position in Marcus & Millichap by 24.9% in the first quarter. Millennium Management LLC now owns 434,493 shares of the real estate investment trust’s stock valued at $15,668,000 after purchasing an additional 86,631 shares in the last quarter. 46.51% of the stock is owned by institutional investors and hedge funds.

About Marcus & Millichap

Marcus & Millichap, Inc, a brokerage firm, provides 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, and industrial properties, as well as hospitality, self-storage, seniors housing, land, and manufactured housing properties.

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