KLP Kapitalforvaltning AS Acquires Shares of 4,500 Marcus & Millichap, Inc. (NYSE:MMI)

KLP Kapitalforvaltning AS bought a new position in shares of Marcus & Millichap, Inc. (NYSE:MMI) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 4,500 shares of the real estate investment trust’s stock, valued at approximately $172,000.

Other large investors have also made changes to their positions in the company. R Squared Ltd acquired a new position in Marcus & Millichap in the fourth quarter valued at approximately $66,000. BNP Paribas Financial Markets raised its position in shares of Marcus & Millichap by 8.4% during the 3rd 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. Heritage Family Offices LLP raised its position in shares of Marcus & Millichap by 7.1% during the 4th quarter. Heritage Family Offices LLP now owns 7,030 shares of the real estate investment trust’s stock valued at $269,000 after acquiring an additional 464 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Marcus & Millichap by 11.6% in the 4th quarter. Handelsbanken Fonder AB now owns 8,666 shares of the real estate investment trust’s stock valued at $332,000 after purchasing an additional 900 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Marcus & Millichap by 12.0% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 9,686 shares of the real estate investment trust’s stock worth $371,000 after purchasing an additional 1,035 shares during the last quarter. Institutional investors and hedge funds own 62.78% of the company’s stock.

Marcus & Millichap Stock Down 1.1 %

Shares of Marcus & Millichap stock opened at $30.19 on Wednesday. Marcus & Millichap, Inc. has a 12 month low of $29.80 and a 12 month high of $42.80. The business has a fifty day simple moving average of $36.32 and a 200 day simple moving average of $37.83. The stock has a market cap of $1.18 billion, a PE ratio of -94.34 and a beta of 1.17.

Marcus & Millichap (NYSE:MMI) last posted its earnings results on Friday, February 14th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.28. The company had revenue of $240.08 million during 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 previous year, the firm posted ($0.27) earnings per share.

Marcus & Millichap Dividend Announcement

The company also recently announced a semi-annual dividend, which was paid on Friday, April 4th. Shareholders of record on Wednesday, March 12th were paid a $0.25 dividend. This represents a yield of 1.3%. The ex-dividend date was Wednesday, March 12th. Marcus & Millichap’s payout ratio is presently -156.25%.

Insiders Place Their Bets

In other Marcus & Millichap news, insider Gregory A. Laberge sold 2,915 shares of the 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 completion of the sale, the insider now directly owns 2,307 shares in the company, valued at $80,237.46. This represents a 55.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 39.20% of the company’s stock.

Marcus & Millichap Company Profile

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.