Marcus & Millichap, Inc. (NYSE:MMI) Sees Large Decrease in Short Interest

Marcus & Millichap, Inc. (NYSE:MMI) saw a significant decline in short interest in February. As of February 15th, there was short interest totalling 301,400 shares, a decline of 18.3% from the January 31st total of 369,100 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average daily volume of 91,600 shares, the days-to-cover ratio is presently 3.3 days.

Marcus & Millichap Stock Performance

NYSE:MMI opened at $38.47 on Tuesday. The business’s fifty day moving average is $37.43 and its 200 day moving average is $38.59. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -120.22 and a beta of 1.16. Marcus & Millichap has a 52-week low of $29.93 and a 52-week high of $42.80.

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

Marcus & Millichap Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, April 4th. Shareholders of record on Wednesday, March 12th will be paid a $0.25 dividend. This represents a yield of 1.3%. The ex-dividend date is Wednesday, March 12th. Marcus & Millichap’s dividend payout ratio is presently -156.25%.

Institutional Investors Weigh In On Marcus & Millichap

Large investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC raised its stake in shares of Marcus & Millichap by 807.2% during the fourth quarter. Sterling Capital Management LLC now owns 753 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 670 shares in the last quarter. R Squared Ltd purchased a new stake in Marcus & Millichap during the 4th quarter valued at about $66,000. State of Wyoming bought a new position in Marcus & Millichap during the 4th quarter worth approximately $156,000. KLP Kapitalforvaltning AS bought a new stake in Marcus & Millichap in the fourth quarter valued at approximately $172,000. Finally, BNP Paribas Financial Markets lifted its position in Marcus & Millichap by 8.4% in the third quarter. BNP Paribas Financial Markets now owns 5,165 shares of the real estate investment trust’s stock valued at $205,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 62.78% of the company’s stock.

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.