Principal Financial Group Inc. Decreases Stock Holdings in Marcus & Millichap, Inc. (NYSE:MMI)

Principal Financial Group Inc. lowered its stake in Marcus & Millichap, Inc. (NYSE:MMI) by 4.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 113,132 shares of the real estate investment trust’s stock after selling 5,061 shares during the period. Principal Financial Group Inc.’s holdings in Marcus & Millichap were worth $4,483,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MMI. Pzena Investment Management LLC grew its position in Marcus & Millichap by 122.2% during the second quarter. Pzena Investment Management LLC now owns 641,667 shares of the real estate investment trust’s stock valued at $20,225,000 after buying an additional 352,832 shares during the period. Reinhart Partners LLC. boosted its stake in shares of Marcus & Millichap by 7.6% during the 3rd quarter. Reinhart Partners LLC. now owns 1,835,699 shares of the real estate investment trust’s stock worth $72,749,000 after acquiring an additional 129,333 shares during the last quarter. Deprince Race & Zollo Inc. bought a new stake in shares of Marcus & Millichap during the 2nd quarter valued at $2,543,000. Harbor Capital Advisors Inc. increased its stake in shares of Marcus & Millichap by 103.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 149,403 shares of the real estate investment trust’s stock worth $5,921,000 after purchasing an additional 76,089 shares in the last quarter. Finally, Barclays PLC raised its holdings in Marcus & Millichap by 104.7% in the 3rd quarter. Barclays PLC now owns 60,379 shares of the real estate investment trust’s stock worth $2,393,000 after purchasing an additional 30,884 shares during the period. Institutional investors own 62.78% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company raised their price objective on Marcus & Millichap from $20.00 to $30.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th.

Marcus & Millichap Stock Performance

MMI stock opened at $37.41 on Friday. The company has a market capitalization of $1.45 billion, a PE ratio of -46.19 and a beta of 1.15. The company’s fifty day moving average price is $39.90 and its 200-day moving average price is $37.94. Marcus & Millichap, Inc. has a one year low of $29.93 and a one year high of $42.80.

Marcus & Millichap Company Profile

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.