Zacks Investment Research downgraded shares of Marcus & Millichap (NYSE:MMI) from a buy rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

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, ValuEngine raised shares of Marcus & Millichap from a sell rating to a hold rating in a research note on Friday, July 26th.

NYSE:MMI opened at $33.75 on Wednesday. The company has a quick ratio of 4.36, a current ratio of 4.36 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.43 billion, a P/E ratio of 15.20, a P/E/G ratio of 3.14 and a beta of 1.20. Marcus & Millichap has a fifty-two week low of $27.84 and a fifty-two week high of $43.50. The firm’s 50 day moving average is $35.61 and its two-hundred day moving average is $34.49.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings results on Thursday, November 7th. The real estate investment trust reported $0.49 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.49. The company had revenue of $198.20 million for the quarter, compared to the consensus estimate of $207.27 million. Marcus & Millichap had a net margin of 10.35% and a return on equity of 20.13%. Marcus & Millichap’s revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 earnings per share. Research analysts forecast that Marcus & Millichap will post 1.96 earnings per share for the current fiscal year.

In other Marcus & Millichap news, CEO Hessam Nadji sold 11,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $36.25, for a total transaction of $398,750.00. Following the transaction, the chief executive officer now owns 251,792 shares of the company’s stock, valued at $9,127,460. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 41.70% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Northern Trust Corp increased its position in shares of Marcus & Millichap by 3.4% in the second quarter. Northern Trust Corp now owns 314,128 shares of the real estate investment trust’s stock worth $9,692,000 after acquiring an additional 10,453 shares in the last quarter. Capital Fund Management S.A. acquired a new stake in shares of Marcus & Millichap in the second quarter worth $549,000. Swiss National Bank increased its position in shares of Marcus & Millichap by 22.7% in the second quarter. Swiss National Bank now owns 43,300 shares of the real estate investment trust’s stock worth $1,336,000 after acquiring an additional 8,000 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Marcus & Millichap by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 286,252 shares of the real estate investment trust’s stock worth $8,831,000 after acquiring an additional 8,898 shares in the last quarter. Finally, U S Global Investors Inc. acquired a new stake in shares of Marcus & Millichap in the second quarter worth $716,000. 58.51% of the stock is currently owned by institutional investors.

About Marcus & Millichap

Marcus & Millichap, Inc, a 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, and industrial properties, as well as hospitality, self-storage, seniors housing, land, and manufactured housing properties.

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