Marcus & Millichap (NYSE:MMI) Trading Up 9.7% on Better-Than-Expected Earnings

Marcus & Millichap, Inc. (NYSE:MMI - Get Free Report) shot up 9.7% during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $41.94 and last traded at $40.88. 59,034 shares changed hands during mid-day trading, a decline of 29% from the average session volume of 83,520 shares. The stock had previously closed at $37.27.

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 4.95% and a negative net margin of 5.01%. The company had revenue of $240.08 million for the quarter. During the same quarter in the prior year, the company posted ($0.27) earnings per share.

Marcus & Millichap Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, April 4th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, March 12th. This represents a yield of 1.3%. Marcus & Millichap's dividend payout ratio is currently -61.73%.

Institutional Investors Weigh In On Marcus & Millichap

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC lifted its holdings in Marcus & Millichap by 104.7% during the 3rd quarter. Barclays PLC now owns 60,379 shares of the real estate investment trust's stock valued at $2,393,000 after purchasing an additional 30,884 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Marcus & Millichap by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 384,775 shares of the real estate investment trust's stock valued at $15,249,000 after acquiring an additional 12,401 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Marcus & Millichap by 8.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,165 shares of the real estate investment trust's stock worth $205,000 after acquiring an additional 400 shares in the last quarter. Reinhart Partners LLC. boosted its holdings in shares of 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 worth $73,057,000 after acquiring an additional 73,792 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Marcus & Millichap by 10.4% during the 3rd quarter. Franklin Resources Inc. now owns 15,753 shares of the real estate investment trust's stock worth $580,000 after acquiring an additional 1,478 shares during the last quarter. Institutional investors and hedge funds own 62.78% of the company's stock.

Marcus & Millichap Trading Down 1.5 %

The stock has a fifty day moving average of $37.58 and a two-hundred day moving average of $38.54. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -47.81 and a beta of 1.16.

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.