Prudential Financial Inc. Cuts Stake in Marcus & Millichap, Inc. (NYSE:MMI)

Prudential Financial Inc. lowered its holdings in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 23.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 24,423 shares of the real estate investment trust’s stock after selling 7,310 shares during the period. Prudential Financial Inc. owned about 0.06% of Marcus & Millichap worth $992,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its stake in shares of Marcus & Millichap by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 384,775 shares of the real estate investment trust’s stock valued at $15,249,000 after buying an additional 12,401 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Marcus & Millichap by 8.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,165 shares of the real estate investment trust’s stock valued at $205,000 after acquiring an additional 400 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Marcus & Millichap by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,522 shares of the real estate investment trust’s stock worth $2,478,000 after acquiring an additional 1,120 shares during the last quarter. State Street Corp increased its stake in Marcus & Millichap by 0.3% in the 3rd quarter. State Street Corp now owns 910,655 shares of the real estate investment trust’s stock worth $36,319,000 after purchasing an additional 2,877 shares during the period. Finally, Barclays PLC lifted its position in Marcus & Millichap by 104.7% in the third quarter. Barclays PLC now owns 60,379 shares of the real estate investment trust’s stock valued at $2,393,000 after purchasing an additional 30,884 shares during the last quarter. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Stock Performance

Shares of Marcus & Millichap stock opened at $31.49 on Monday. Marcus & Millichap, Inc. has a 52-week low of $29.93 and a 52-week high of $42.80. The company’s 50 day moving average price is $36.80 and its 200-day moving average price is $38.03. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -98.41 and a beta of 1.17.

Marcus & Millichap (NYSE:MMI) last released its quarterly earnings data on Friday, February 14th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.28. The firm had revenue of $240.08 million for the quarter. Marcus & Millichap had a negative net margin of 1.78% and a negative return on equity of 1.98%. During the same quarter in the previous year, the firm posted ($0.27) EPS.

Marcus & Millichap Announces Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, April 4th. Shareholders of record on Wednesday, March 12th were issued a $0.25 dividend. The ex-dividend date was Wednesday, March 12th. This represents a yield of 1.3%. Marcus & Millichap’s dividend payout ratio (DPR) is presently -156.25%.

Insider Transactions at Marcus & Millichap

In other news, insider Gregory A. Laberge sold 2,915 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $34.78, for a total value of $101,383.70. Following the completion of the transaction, the insider now owns 2,307 shares in the company, valued at $80,237.46. This trade represents a 55.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 39.20% of the company’s stock.

Marcus & Millichap Profile

Marcus & Millichap, Inc engages in the provision of investment real estate brokerage services. It specializes in commercial real estate investment sales, property financing, research, and advisory services. The company was founded by George M. Marcus and William A. Millichap in 1971 and is headquartered in Calabasas, CA.