8,326 Shares in Marcus & Millichap, Inc. (NYSE:MMI) Acquired by First Hawaiian Bank

First Hawaiian Bank purchased a new position in Marcus & Millichap, Inc. (NYSE:MMI) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 8,326 shares of the real estate investment trust’s stock, valued at approximately $262,000.

Other institutional investors also recently modified their holdings of the company. Jennison Associates LLC grew its holdings in shares of Marcus & Millichap by 109.1% in the 4th quarter. Jennison Associates LLC now owns 466,327 shares of the real estate investment trust’s stock worth $20,369,000 after acquiring an additional 243,281 shares during the last quarter. Norges Bank purchased a new position in Marcus & Millichap in the 4th quarter worth about $6,826,000. Schroder Investment Management Group raised its holdings in Marcus & Millichap by 2.4% during the 4th quarter. Schroder Investment Management Group now owns 1,099,876 shares of the real estate investment trust’s stock worth $48,043,000 after buying an additional 25,982 shares during the period. Tributary Capital Management LLC lifted its stake in Marcus & Millichap by 10.6% during the first quarter. Tributary Capital Management LLC now owns 658,266 shares of the real estate investment trust’s stock valued at $22,493,000 after buying an additional 62,946 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Marcus & Millichap by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 3,841,718 shares of the real estate investment trust’s stock worth $167,806,000 after buying an additional 37,821 shares during the period. Institutional investors own 62.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Marcus & Millichap news, COO John David Parker sold 1,835 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $35.29, for a total value of $64,757.15. Following the transaction, the chief operating officer now owns 13,373 shares in the company, valued at approximately $471,933.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Gregory A. Laberge sold 1,000 shares of Marcus & Millichap stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $32.68, for a total transaction of $32,680.00. Following the completion of the sale, the insider now owns 6,050 shares of the company’s stock, valued at $197,714. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO John David Parker sold 1,835 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $35.29, for a total value of $64,757.15. Following the completion of the transaction, the chief operating officer now directly owns 13,373 shares in the company, valued at $471,933.17. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,635 shares of company stock worth $658,511. 39.20% of the stock is owned by company insiders.

Marcus & Millichap Trading Up 2.0 %

NYSE:MMI traded up $0.75 during trading hours on Tuesday, hitting $38.65. 41,308 shares of the stock traded hands, compared to its average volume of 145,983. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -38.35 and a beta of 1.12. The firm has a 50 day moving average price of $33.75 and a 200 day moving average price of $34.40. Marcus & Millichap, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $44.24.

Marcus & Millichap (NYSE:MMI) last posted its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.26) earnings per share for the quarter. Marcus & Millichap had a negative net margin of 6.16% and a negative return on equity of 5.91%. The business had revenue of $129.10 million for the quarter.

Marcus & Millichap Dividend Announcement

The business also recently declared a Semi-Annual dividend, which will be paid on Friday, October 4th. Stockholders of record on Monday, September 16th will be given a $0.25 dividend. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, September 16th. Marcus & Millichap’s dividend payout ratio (DPR) is -50.00%.

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.