Citigroup Inc. Cuts Stock Holdings in Marcus & Millichap, Inc. (NYSE:MMI)

Citigroup Inc. lessened its holdings in Marcus & Millichap, Inc. (NYSE:MMI) by 64.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,105 shares of the real estate investment trust’s stock after selling 16,313 shares during the period. Citigroup Inc.’s holdings in Marcus & Millichap were worth $267,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Captrust Financial Advisors boosted its position in Marcus & Millichap by 342.7% during the first 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 in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Marcus & Millichap in the 2nd quarter worth approximately $58,000. Quantbot Technologies LP bought a new position in shares of Marcus & Millichap during the 3rd quarter worth approximately $75,000. Tower Research Capital LLC TRC lifted its position in Marcus & Millichap by 446.8% during the second quarter. Tower Research Capital LLC TRC now owns 2,783 shares of the real estate investment trust’s stock valued at $88,000 after acquiring an additional 2,274 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in Marcus & Millichap by 49.9% in the second quarter. Royal Bank of Canada now owns 2,843 shares of the real estate investment trust’s stock valued at $89,000 after acquiring an additional 946 shares in the last quarter. 62.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered Marcus & Millichap from a “hold” rating to a “sell” rating in a report on Monday.

Marcus & Millichap Stock Performance

Shares of MMI stock opened at $33.64 on Thursday. Marcus & Millichap, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $44.24. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -37.80 and a beta of 1.22. The stock’s 50-day simple moving average is $36.27 and its 200-day simple moving average is $34.61.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings results on Friday, February 16th. The real estate investment trust reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.01. The business had revenue of $166.24 million for the quarter. Marcus & Millichap had a negative net margin of 5.27% and a negative return on equity of 5.16%.

Marcus & Millichap Dividend Announcement

The company also recently announced a Semi-Annual dividend, which will be paid on Friday, April 5th. Investors of record on Tuesday, March 12th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 11th. This represents a yield of 1.3%. Marcus & Millichap’s dividend payout ratio (DPR) is -56.18%.

Insiders Place Their Bets

In other news, COO John David Parker sold 9,716 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $32.83, for a total value of $318,976.28. Following the transaction, the chief operating officer now directly owns 12,376 shares of the company’s stock, valued at $406,304.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Marcus & Millichap news, COO John David Parker sold 9,716 shares of Marcus & Millichap stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $32.83, for a total transaction of $318,976.28. Following the completion of the sale, the chief operating officer now directly owns 12,376 shares in the company, valued at approximately $406,304.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Richard D. Matricaria sold 9,500 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $33.32, for a total transaction of $316,540.00. Following the completion of the sale, the chief operating officer now directly owns 7,078 shares in the company, valued at $235,838.96. The disclosure for this sale can be found here. 39.20% of the stock is currently owned by insiders.

Marcus & Millichap Company Profile

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, as well as capital markets.