Zacks Investment Research upgraded shares of Marcus & Millichap (NYSE:MMI) from a hold rating to a buy rating in a research report released on Saturday, Zacks.com reports. They currently have $42.00 target price on the real estate investment trust’s stock.
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. “
MMI stock opened at $38.02 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.57 and a quick ratio of 4.57. The business has a 50-day moving average price of $36.81 and a 200 day moving average price of $34.86. The company has a market capitalization of $1.48 billion, a P/E ratio of 18.12, a PEG ratio of 3.06 and a beta of 1.22. Marcus & Millichap has a 1-year low of $27.84 and a 1-year high of $43.50.
Marcus & Millichap (NYSE:MMI) last released its quarterly earnings data on Thursday, November 7th. The real estate investment trust reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. The firm had revenue of $198.20 million during the quarter, compared to the consensus estimate of $207.27 million. Marcus & Millichap had a return on equity of 18.75% and a net margin of 10.32%. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. On average, analysts anticipate that Marcus & Millichap will post 1.91 earnings per share for the current fiscal year.
In related news, CEO Hessam Nadji sold 4,130 shares of Marcus & Millichap stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $37.22, for a total value of $153,718.60. Following the completion of the sale, the chief executive officer now directly owns 245,792 shares in the company, valued at $9,148,378.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 41.70% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its holdings in shares of Marcus & Millichap by 1.2% in the third quarter. California State Teachers Retirement System now owns 35,785 shares of the real estate investment trust’s stock valued at $1,270,000 after acquiring an additional 427 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in Marcus & Millichap by 3.8% in the second quarter. UBS Asset Management Americas Inc. now owns 17,010 shares of the real estate investment trust’s stock worth $525,000 after purchasing an additional 627 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in Marcus & Millichap by 10.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,040 shares of the real estate investment trust’s stock worth $250,000 after purchasing an additional 660 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Marcus & Millichap by 8.8% in the third quarter. Louisiana State Employees Retirement System now owns 8,700 shares of the real estate investment trust’s stock worth $309,000 after purchasing an additional 700 shares in the last quarter. Finally, Mason Street Advisors LLC raised its holdings in Marcus & Millichap by 11.1% in the third quarter. Mason Street Advisors LLC now owns 7,964 shares of the real estate investment trust’s stock worth $283,000 after purchasing an additional 795 shares in the last quarter. Hedge funds and other institutional investors own 58.28% of the company’s stock.
About Marcus & Millichap
Marcus & Millichap, Inc, a 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, and industrial properties, as well as hospitality, self-storage, seniors housing, land, and manufactured housing properties.
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