Norges Bank Buys New Position in Marcus & Millichap, Inc. (NYSE:MMI)

Norges Bank purchased a new position in shares of Marcus & Millichap, Inc. (NYSE:MMI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 71,284 shares of the real estate investment trust’s stock, valued at approximately $2,727,000. Norges Bank owned approximately 0.18% of Marcus & Millichap as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. R Squared Ltd acquired a new position in shares of Marcus & Millichap during the fourth quarter worth $66,000. KLP Kapitalforvaltning AS acquired a new position in Marcus & Millichap in the 4th quarter worth $172,000. BNP Paribas Financial Markets boosted its position in 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 valued at $205,000 after buying an additional 400 shares during the last quarter. Heritage Family Offices LLP grew its stake in shares of Marcus & Millichap by 7.1% during the fourth 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 in the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Marcus & Millichap by 11.6% during the fourth quarter. Handelsbanken Fonder AB now owns 8,666 shares of the real estate investment trust’s stock worth $332,000 after acquiring an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Marcus & Millichap Stock Performance

Shares of MMI opened at $30.35 on Friday. Marcus & Millichap, Inc. has a one year low of $29.36 and a one year high of $42.80. The stock has a 50-day moving average price of $35.93 and a 200 day moving average price of $37.67. The company has a market capitalization of $1.19 billion, a P/E ratio of -94.85 and a beta of 1.17.

Marcus & Millichap (NYSE:MMI) last released its earnings results on Friday, February 14th. The real estate investment trust reported $0.22 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.28. Marcus & Millichap had a negative return on equity of 1.98% and a negative net margin of 1.78%. The company had revenue of $240.08 million during the quarter. During the same quarter last year, the company posted ($0.27) earnings per share.

Marcus & Millichap Announces Dividend

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

Insider Transactions at Marcus & Millichap

In other news, insider Gregory A. Laberge sold 2,915 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $34.78, for a total transaction of $101,383.70. Following the transaction, the insider now owns 2,307 shares of the company’s stock, valued at approximately $80,237.46. This trade represents a 55.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 39.20% of the company’s stock.

Marcus & Millichap 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.