Marcus & Millichap (NYSE:MMI) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Marcus & Millichap, Inc. (NYSE:MMI)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $38.54 and traded as high as $39.04. Marcus & Millichap shares last traded at $37.53, with a volume of 116,027 shares trading hands.

Marcus & Millichap Stock Performance

The firm has a market cap of $1.46 billion, a P/E ratio of -117.27 and a beta of 1.16. The company’s 50 day moving average is $37.43 and its 200 day moving average is $38.54.

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

Marcus & Millichap Announces Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, April 4th. Investors 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 payout ratio is -156.25%.

Hedge Funds Weigh In On Marcus & Millichap

Large investors have recently modified their holdings of 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 valued at $29,000 after acquiring an additional 670 shares during the last quarter. R Squared Ltd bought a new position in shares of Marcus & Millichap during the fourth quarter valued at $66,000. State of Wyoming bought a new position in shares of Marcus & Millichap during the fourth quarter valued at $156,000. KLP Kapitalforvaltning AS bought a new position in shares of Marcus & Millichap during the fourth quarter valued at $172,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Marcus & Millichap by 8.4% during 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 acquiring an additional 400 shares during the last quarter. Institutional investors own 62.78% of the company’s stock.

About Marcus & Millichap

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.