IndexIQ Advisors LLC Invests $177,000 in Marcus & Millichap Inc (NYSE:MMI)

27 May 2020, 12:18 by Tristan Rich

IndexIQ Advisors LLC bought a new stake in shares of Marcus & Millichap Inc (NYSE:MMI) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,532 shares of the real estate investment trust’s stock, valued at approximately $177,000.

A number of other large investors have also recently bought and sold shares of the stock. First National Bank of Omaha lifted its position in Marcus & Millichap by 1.2% during the first quarter. First National Bank of Omaha now owns 39,171 shares of the real estate investment trust’s stock valued at $1,062,000 after acquiring an additional 469 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Marcus & Millichap by 4.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,400 shares of the real estate investment trust’s stock valued at $425,000 after acquiring an additional 500 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Marcus & Millichap during the fourth quarter valued at approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Marcus & Millichap by 42.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,236 shares of the real estate investment trust’s stock valued at $88,000 after acquiring an additional 963 shares during the last quarter. Finally, Swiss National Bank lifted its position in Marcus & Millichap by 2.3% during the fourth quarter. Swiss National Bank now owns 44,900 shares of the real estate investment trust’s stock valued at $1,673,000 after acquiring an additional 1,000 shares during the last quarter. 56.53% of the stock is owned by institutional investors.

Shares of Marcus & Millichap stock opened at $27.08 on Wednesday. The company has a current ratio of 5.37, a quick ratio of 5.37 and a debt-to-equity ratio of 0.12. Marcus & Millichap Inc has a 12-month low of $21.90 and a 12-month high of $38.24. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 14.40 and a beta of 1.15. The firm’s 50 day simple moving average is $27.73 and its two-hundred day simple moving average is $32.86.

Marcus & Millichap (NYSE:MMI) last issued its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Marcus & Millichap had a net margin of 8.89% and a return on equity of 15.44%. The business had revenue of $190.70 million for the quarter, compared to analyst estimates of $167.80 million. During the same quarter in the prior year, the business posted $0.40 EPS. Marcus & Millichap’s revenue for the quarter was up 18.7% compared to the same quarter last year. On average, sell-side analysts predict that Marcus & Millichap Inc will post 0.56 EPS for the current fiscal year.

A number of equities research analysts recently commented on the stock. TheStreet cut shares of Marcus & Millichap from a “b” rating to a “c+” rating in a research report on Friday, March 13th. Wells Fargo & Co cut shares of Marcus & Millichap from an “equal weight” rating to an “underweight” rating in a research report on Sunday, April 19th. Zacks Investment Research cut shares of Marcus & Millichap from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, William Blair restated a “market perform” rating on shares of Marcus & Millichap in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $26.50.

Marcus & Millichap Company Profile

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.