Louisiana State Employees Retirement System Makes New $520,000 Investment in Marcus & Millichap, Inc. (NYSE:MMI)

Louisiana State Employees Retirement System purchased a new stake in shares of Marcus & Millichap, Inc. (NYSE:MMI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 11,900 shares of the real estate investment trust’s stock, valued at approximately $520,000.

A number of other institutional investors also recently modified their holdings of MMI. Jennison Associates LLC acquired a new position in shares of Marcus & Millichap during the 3rd quarter worth about $6,544,000. Reinhart Partners LLC. increased its position in Marcus & Millichap by 10.1% in the 4th quarter. Reinhart Partners LLC. now owns 1,457,609 shares of the real estate investment trust’s stock worth $63,668,000 after buying an additional 133,308 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Marcus & Millichap by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 321,202 shares of the real estate investment trust’s stock worth $9,424,000 after buying an additional 18,706 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Marcus & Millichap by 5.4% in the third quarter. Wellington Management Group LLP now owns 400,342 shares of the real estate investment trust’s stock valued at $11,746,000 after acquiring an additional 20,420 shares during the period. Finally, Handelsbanken Fonder AB bought a new stake in shares of Marcus & Millichap in the third quarter valued at approximately $219,000. Institutional investors own 62.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Marcus & Millichap from a “hold” rating to a “sell” rating in a research note on Monday, March 25th.

Insider Activity at Marcus & Millichap

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 stock was sold at an average price of $32.83, for a total transaction of $318,976.28. Following the sale, the chief operating officer now directly owns 12,376 shares of the company’s stock, valued at $406,304.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Marcus & Millichap news, COO Richard D. Matricaria sold 9,500 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $33.32, for a total value of $316,540.00. Following the transaction, the chief operating officer now directly owns 7,078 shares in the company, valued at $235,838.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO John David Parker sold 9,716 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $32.83, for a total transaction of $318,976.28. Following the sale, the chief operating officer now directly owns 12,376 shares of the company’s stock, valued at approximately $406,304.08. The disclosure for this sale can be found here. 39.89% of the stock is currently owned by insiders.

Marcus & Millichap Stock Up 0.5 %

MMI stock opened at $32.44 on Tuesday. The business’s 50-day simple moving average is $33.66 and its 200 day simple moving average is $35.04. The company has a market cap of $1.25 billion, a PE ratio of -36.45 and a beta of 1.20. Marcus & Millichap, Inc. has a twelve month low of $26.81 and a twelve month high of $44.24.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings data 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 return on equity of 5.16% and a negative net margin of 5.27%.

Marcus & Millichap Dividend Announcement

The firm also recently announced a Semi-Annual dividend, which was paid on Friday, April 5th. Stockholders of record on Tuesday, March 12th were given a dividend of $0.25 per share. The ex-dividend date was Monday, March 11th. This represents a dividend yield of 1.3%. Marcus & Millichap’s dividend payout ratio (DPR) is currently -56.18%.

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, as well as capital markets.