Marcus & Millichap (NYSE:MMI) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Marcus & Millichap (NYSE:MMI) from a buy rating to a hold rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings upgraded Marcus & Millichap from a “sell (d)” rating to a “hold (c-)” rating in a research report on Friday, August 21st. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Marcus & Millichap has a consensus rating of “Reduce” and an average target price of $28.00.

Marcus & Millichap Stock Performance

Shares of MMI stock opened at $27.62 on Friday. Marcus & Millichap has a one year low of $24.43 and a one year high of $33.55. The company’s 50-day simple moving average is $29.33 and its 200-day simple moving average is $28.79. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 70.82 and a beta of 1.25.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings results on Friday, November 6th. The real estate investment trust reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Marcus & Millichap had a return on equity of 2.97% and a net margin of 1.77%. The firm had revenue of $208.37 million during the quarter, compared to analyst estimates of $205.05 million.

Institutional Investors Weigh In On Marcus & Millichap

Several large investors have recently added to or reduced their stakes in MMI. Farther Finance Advisors LLC increased its holdings in shares of Marcus & Millichap by 50.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,728 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 583 shares during the period. Inspire Investing LLC lifted its position in shares of Marcus & Millichap by 3.1% in the third quarter. Inspire Investing LLC now owns 22,455 shares of the real estate investment trust’s stock worth $639,000 after purchasing an additional 675 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Marcus & Millichap by 6.1% in the third quarter. Illinois Municipal Retirement Fund now owns 12,535 shares of the real estate investment trust’s stock worth $357,000 after purchasing an additional 723 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Marcus & Millichap by 0.7% during the first quarter. Principal Financial Group Inc. now owns 115,747 shares of the real estate investment trust’s stock worth $3,078,000 after purchasing an additional 789 shares during the period. Finally, Compass Financial Management LLC acquired a new stake in shares of Marcus & Millichap during the second quarter worth approximately $25,000. 62.78% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Marcus & Millichap

Here are the key news stories impacting Marcus & Millichap this week:

• Positive Sentiment: Q3 revenue was $208.4 million, above the roughly $205.1 million analyst estimate, providing a positive sales surprise. Marcus & Millichap Q3 sales surprise
• Neutral Sentiment: Management outlined incremental spending of 1% to 2% over the next 18 to 24 months as it prepares to roll out AI-enabled tools. The tools may support operations, though the added spending is a near-term cost. AI-enabled tools and incremental spending
• Negative Sentiment: Q3 EPS was $0.03, missing the $0.06 consensus estimate. The earnings miss tempers the revenue beat. Q3 earnings and revenue results
• Negative Sentiment: Wall Street Zen downgraded the stock, adding to pressure on sentiment. Wall Street Zen downgrade
• Negative Sentiment: A valuation analysis suggested MMI could be about 42% overvalued, even while noting a USPS property listing. MMI valuation analysis

Marcus & Millichap Company Profile

Marcus & Millichap, Inc is a commercial real estate brokerage company that specializes in investment sales, financing and advisory services. The company serves owners and investors in a range of property sectors, including multifamily, office, retail, industrial, self-storage, hospitality and land.

Through its brokerage professionals and investment banking platform, Marcus & Millichap helps clients market and acquire commercial properties, arrange financing and evaluate real estate investment opportunities.