Lord Abbett & CO. LLC Has $33.01 Million Stock Position in Marcus & Millichap, Inc. (NYSE:MMI)

Lord Abbett & CO. LLC lessened its position in shares of Marcus & Millichap, Inc. (NYSE:MMI) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 862,714 shares of the real estate investment trust’s stock after selling 6,955 shares during the quarter. Lord Abbett & CO. LLC owned approximately 2.22% of Marcus & Millichap worth $33,007,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Reinhart Partners LLC. increased its holdings in Marcus & Millichap by 4.0% in the 4th quarter. Reinhart Partners LLC. now owns 1,909,491 shares of the real estate investment trust’s stock valued at $73,057,000 after buying an additional 73,792 shares during the period. Geode Capital Management LLC raised its position in Marcus & Millichap by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 597,338 shares of the real estate investment trust’s stock worth $22,859,000 after purchasing an additional 2,193 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Marcus & Millichap by 4.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 403,560 shares of the real estate investment trust’s stock worth $15,440,000 after purchasing an additional 18,785 shares during the period. Jennison Associates LLC boosted its holdings in Marcus & Millichap by 21.1% during the fourth quarter. Jennison Associates LLC now owns 264,435 shares of the real estate investment trust’s stock valued at $10,117,000 after purchasing an additional 46,154 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Marcus & Millichap by 2.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 152,454 shares of the real estate investment trust’s stock valued at $5,833,000 after purchasing an additional 3,051 shares during the period. 62.78% of the stock is currently owned by institutional investors.

Insider Transactions at Marcus & Millichap

In other Marcus & Millichap news, insider Gregory A. Laberge sold 2,915 shares of the business’s stock in a transaction 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 transaction, the insider now owns 2,307 shares of the company’s stock, valued at approximately $80,237.46. The trade was a 55.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 39.20% of the stock is owned by company insiders.

Marcus & Millichap Price Performance

Marcus & Millichap stock opened at $30.77 on Friday. The business has a 50 day simple moving average of $34.41 and a 200 day simple moving average of $37.12. The company has a market capitalization of $1.21 billion, a PE ratio of -96.16 and a beta of 1.17. Marcus & Millichap, Inc. has a one year low of $29.36 and a one year high of $42.80.

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

Marcus & Millichap Dividend Announcement

The firm also recently announced a semi-annual dividend, which was paid on Friday, April 4th. Stockholders of record on Wednesday, March 12th were issued a $0.25 dividend. This represents a dividend yield of 1.3%. The ex-dividend date was Wednesday, March 12th. Marcus & Millichap’s payout ratio is currently -156.25%.

Marcus & Millichap Company 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.