Diversified Trust Co lifted its position in shares of Marcus & Millichap, Inc. (NYSE:MMI – Get Rating) by 88.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,087 shares of the real estate investment trust’s stock after acquiring an additional 4,732 shares during the period. Diversified Trust Co’s holdings in Marcus & Millichap were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new position in Marcus & Millichap in the 1st quarter valued at approximately $41,000. Captrust Financial Advisors lifted its stake in Marcus & Millichap by 342.7% in the 1st quarter. Captrust Financial Advisors now owns 1,483 shares of the real estate investment trust’s stock valued at $79,000 after purchasing an additional 1,148 shares during the last quarter. SG Americas Securities LLC bought a new position in Marcus & Millichap in the 1st quarter valued at approximately $172,000. GSA Capital Partners LLP bought a new position in Marcus & Millichap in the 1st quarter valued at approximately $208,000. Finally, Teacher Retirement System of Texas bought a new position in Marcus & Millichap in the 4th quarter valued at approximately $236,000. Institutional investors own 60.73% of the company’s stock.
In other news, insider Gregory A. Laberge sold 2,155 shares of the firm’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $40.45, for a total transaction of $87,169.75. Following the completion of the transaction, the insider now owns 10,172 shares of the company’s stock, valued at $411,457.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 38.80% of the company’s stock.
Marcus & Millichap Stock Performance
Marcus & Millichap (NYSE:MMI – Get Rating) last released its quarterly earnings results on Friday, August 5th. The real estate investment trust reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.20. Marcus & Millichap had a net margin of 11.07% and a return on equity of 25.12%. During the same quarter in the prior year, the company earned $0.78 earnings per share.
Marcus & Millichap Announces Dividend
The firm also recently declared a Semi-Annual dividend, which will be paid on Thursday, October 6th. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.25 per share. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 14th. Marcus & Millichap’s payout ratio is currently 11.85%.
About Marcus & Millichap
Marcus & Millichap, Inc, an investment 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, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing.
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