Trade Report: Today, Marcus & Millichap Inc. (MMI) Stock Rating Upgrade by The Zacks Investment Research

Today, Marcus & Millichap Inc. (MMI) Stock Rating Upgrade by The Zacks Investment Research

Marcus & Millichap Inc. (NYSE:MMI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $27.00 price objective on the real estate investment trust’s stock. Zacks Investment Research’s price objective would indicate a potential downside of 1.89% from the company’s previous close.

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. “

Separately, TheStreet raised Marcus & Millichap from a “hold” rating to a “buy” rating in a report on Monday, October 31st.

Shares of Marcus & Millichap (NYSE:MMI) traded up 1.51% during trading on Tuesday, hitting $27.52. The stock had a trading volume of 40,737 shares. Marcus & Millichap has a one year low of $18.77 and a one year high of $33.50. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 16.00 and a beta of 1.53. The stock has a 50 day moving average price of $24.84 and a 200-day moving average price of $25.80.

Marcus & Millichap (NYSE:MMI) last released its earnings results on Thursday, November 3rd. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The company earned $180.63 million during the quarter, compared to analyst estimates of $169.80 million. Marcus & Millichap had a return on equity of 31.33% and a net margin of 9.22%. Marcus & Millichap’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 earnings per share. On average, equities research analysts predict that Marcus & Millichap will post $1.70 earnings per share for the current year.

In other Marcus & Millichap news, CEO Hessam Nadji sold 13,500 shares of the stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $25.90, for a total transaction of $349,650.00. Following the completion of the transaction, the chief executive officer now directly owns 355,233 shares of the company’s stock, valued at $9,200,534.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP William E. Hughes sold 5,000 shares of the stock in a transaction on Friday, September 30th. The shares were sold at an average price of $26.17, for a total value of $130,850.00. The disclosure for this sale can be found here. Company insiders own 61.80% of the company’s stock.

Large investors have recently bought and sold shares of the company. Royce & Associates LP increased its stake in Marcus & Millichap by 48.0% in the second quarter. Royce & Associates LP now owns 2,365,410 shares of the real estate investment trust’s stock valued at $60,105,000 after buying an additional 767,478 shares in the last quarter. Route One Investment Company L.P. increased its stake in shares of Marcus & Millichap by 14.0% in the second quarter. Route One Investment Company L.P. now owns 1,134,956 shares of the real estate investment trust’s stock worth $28,839,000 after buying an additional 139,780 shares during the period. Vanguard Group Inc. increased its stake in shares of Marcus & Millichap by 2.9% in the second quarter. Vanguard Group Inc. now owns 1,043,513 shares of the real estate investment trust’s stock worth $26,515,000 after buying an additional 29,272 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Marcus & Millichap by 3.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 670,152 shares of the real estate investment trust’s stock worth $17,029,000 after buying an additional 24,873 shares during the period. Finally, Lord Abbett & CO. LLC increased its stake in shares of Marcus & Millichap by 0.6% in the second quarter. Lord Abbett & CO. LLC now owns 437,967 shares of the real estate investment trust’s stock worth $11,129,000 after buying an additional 2,806 shares during the period. Hedge funds and other institutional investors own 34.43% of the company’s stock.

About Marcus & Millichap

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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