Marcus & Millichap (NYSE:MMI) Price Target Raised to $30.00 at Wells Fargo & Company

Marcus & Millichap (NYSE:MMI - Free Report) had its target price increased by Wells Fargo & Company from $20.00 to $30.00 in a report published on Friday morning, Benzinga reports. They currently have an underweight rating on the real estate investment trust's stock.

Separately, StockNews.com raised shares of Marcus & Millichap from a sell rating to a hold rating in a research report on Wednesday, July 24th.

Marcus & Millichap Price Performance

MMI stock traded down $0.61 during midday trading on Friday, hitting $37.75. The company's stock had a trading volume of 65,572 shares, compared to its average volume of 137,588. Marcus & Millichap has a twelve month low of $26.81 and a twelve month high of $44.24. The company's fifty day moving average price is $36.96 and its 200 day moving average price is $34.45. The stock has a market capitalization of $1.46 billion, a P/E ratio of -37.95 and a beta of 1.12.

Marcus & Millichap (NYSE:MMI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.01. Marcus & Millichap had a negative net margin of 5.68% and a negative return on equity of 5.50%. The firm had revenue of $158.37 million for the quarter.

Marcus & Millichap Announces Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Friday, October 4th. Investors of record on Monday, September 16th will be issued a dividend of $0.25 per share. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, September 16th. Marcus & Millichap's payout ratio is -50.00%.

Insider Buying and Selling

In related news, CEO Hessam Nadji sold 15,000 shares of Marcus & Millichap stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $35.27, for a total transaction of $529,050.00. Following the completion of the sale, the chief executive officer now owns 224,123 shares of the company's stock, valued at approximately $7,904,818.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 29,700 shares of company stock valued at $1,119,675. Company insiders own 39.20% of the company's stock.

Institutional Trading of Marcus & Millichap

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in Marcus & Millichap in the 1st quarter valued at about $85,000. EntryPoint Capital LLC acquired a new position in shares of Marcus & Millichap in the 1st quarter valued at approximately $85,000. LRI Investments LLC acquired a new position in shares of Marcus & Millichap in the 1st quarter valued at approximately $143,000. Scharf Investments LLC raised its position in shares of Marcus & Millichap by 18.8% in the 1st quarter. Scharf Investments LLC now owns 5,905 shares of the real estate investment trust's stock valued at $202,000 after buying an additional 933 shares in the last quarter. Finally, Heritage Family Offices LLP acquired a new position in shares of Marcus & Millichap in the 2nd quarter valued at approximately $207,000. Institutional investors own 62.78% of the company's stock.

About Marcus & Millichap

Marcus & Millichap, Inc, an investment 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, industrial, single-tenant net lease, seniors housing, self-storage, hospitality, medical office, and manufactured housing, as well as capital markets.