Proficio Capital Partners LLC Invests $830,000 in Marcus & Millichap, Inc. (NYSE:MMI)

Proficio Capital Partners LLC purchased a new position in shares of Marcus & Millichap, Inc. (NYSE:MMI) in the fourth quarter, Holdings Channel.com reports. The fund purchased 21,693 shares of the real estate investment trust’s stock, valued at approximately $830,000.

A number of other institutional investors also recently modified their holdings of MMI. Reinhart Partners LLC. raised its holdings in shares of Marcus & Millichap by 4.0% during 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 buying an additional 73,792 shares in the last quarter. Jennison Associates LLC grew its position in Marcus & Millichap by 21.1% during the 4th quarter. Jennison Associates LLC now owns 264,435 shares of the real estate investment trust’s stock worth $10,117,000 after acquiring an additional 46,154 shares during the last quarter. Barclays PLC grew its position 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 worth $2,393,000 after acquiring an additional 30,884 shares during the last quarter. Lord Abbett & CO. LLC grew its position in Marcus & Millichap by 2.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 869,669 shares of the real estate investment trust’s stock worth $34,465,000 after acquiring an additional 24,352 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Marcus & Millichap by 4.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 403,560 shares of the real estate investment trust’s stock worth $15,440,000 after acquiring an additional 18,785 shares during the last quarter. Institutional investors and hedge funds own 62.78% of the company’s stock.

Insider Buying and Selling at Marcus & Millichap

In other Marcus & Millichap news, insider Gregory A. Laberge sold 2,915 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $34.78, for a total value of $101,383.70. Following the sale, the insider now owns 2,307 shares in the company, valued at approximately $80,237.46. The trade was a 55.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 39.20% of the company’s stock.

Marcus & Millichap Stock Down 1.1 %

Shares of MMI stock opened at $35.40 on Friday. The firm has a market capitalization of $1.39 billion, a P/E ratio of -110.62 and a beta of 1.15. Marcus & Millichap, Inc. has a twelve month low of $29.93 and a twelve month high of $42.80. The stock’s fifty day simple moving average is $37.15 and its 200 day simple moving average is $38.34.

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

Marcus & Millichap Announces Dividend

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

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.