Oregon Public Employees Retirement Fund Cuts Holdings in Marcus & Millichap, Inc. (NYSE:MMI)

Posted by Defense World Staff on Oct 24th, 2023

Oregon Public Employees Retirement Fund decreased its stake in Marcus & Millichap, Inc. (NYSE:MMI – Free Report) by 5.0% during the 2nd quarter, Holdings Channel reports. The firm owned 7,594 shares of the real estate investment trust’s stock after selling 400 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Marcus & Millichap were worth $239,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MMI. Envestnet Asset Management Inc. grew its position in shares of Marcus & Millichap by 375.0% in the first quarter. Envestnet Asset Management Inc. now owns 285,199 shares of the real estate investment trust’s stock valued at $1,813,000 after purchasing an additional 225,155 shares during the period. Norges Bank acquired a new position in Marcus & Millichap in the 4th quarter valued at about $7,556,000. Renaissance Technologies LLC boosted its holdings in Marcus & Millichap by 328.8% in the 2nd quarter. Renaissance Technologies LLC now owns 248,700 shares of the real estate investment trust’s stock valued at $9,199,000 after purchasing an additional 190,700 shares during the last quarter. First Trust Advisors LP boosted its holdings in Marcus & Millichap by 305.6% in the 1st quarter. First Trust Advisors LP now owns 238,683 shares of the real estate investment trust’s stock valued at $12,574,000 after purchasing an additional 179,833 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Marcus & Millichap by 8.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,777,320 shares of the real estate investment trust’s stock valued at $57,068,000 after purchasing an additional 140,119 shares during the last quarter. Institutional investors and hedge funds own 60.62% of the company’s stock.

Marcus & Millichap Stock Performance

Marcus & Millichap stock opened at $27.54 on Tuesday. The company’s 50 day simple moving average is $30.93 and its 200-day simple moving average is $31.82. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 78.69 and a beta of 1.10. Marcus & Millichap, Inc. has a 1 year low of $27.21 and a 1 year high of $39.45.

Marcus & Millichap (NYSE:MMI – Get Free Report) last released its quarterly earnings results on Friday, August 4th. The real estate investment trust reported ($0.23) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.23). The business had revenue of $162.87 million for the quarter. Marcus & Millichap had a net margin of 1.63% and a return on equity of 2.11%. During the same period last year, the firm posted $1.04 earnings per share.

Marcus & Millichap Announces Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Friday, October 6th. Investors of record on Friday, September 15th were paid a dividend of $0.25 per share. This represents a yield of 1.3%. The ex-dividend date of this dividend was Thursday, September 14th. Marcus & Millichap’s payout ratio is currently 142.86%.

Insider Buying and Selling

In related news, Director Don C. Watters sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $31.89, for a total transaction of $382,680.00. Following the sale, the director now directly owns 8,337 shares of the company’s stock, valued at approximately $265,866.93. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Gregory A. Laberge sold 8,201 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $32.09, for a total transaction of $263,170.09. Following the sale, the insider now directly owns 5,012 shares of the company’s stock, valued at approximately $160,835.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Don C. Watters sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $31.89, for a total transaction of $382,680.00. Following the sale, the director now directly owns 8,337 shares in the company, valued at $265,866.93. The disclosure for this sale can be found here. 39.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MMI has been the topic of several recent analyst reports. Wells Fargo & Company decreased their target price on shares of Marcus & Millichap from $21.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, June 30th. StockNews.com downgraded shares of Marcus & Millichap from a “hold” rating to a “sell” rating in a research note on Friday, October 13th.

View Our Latest Report on MMI

About Marcus & Millichap

(Free Report)

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.