Lord Abbett & CO. LLC Acquires 24,352 Shares of Marcus & Millichap, Inc. (NYSE:MMI)

Lord Abbett & CO. LLC boosted its holdings in Marcus & Millichap, Inc. (NYSE:MMI) by 2.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 869,669 shares of the real estate investment trust’s stock after purchasing an additional 24,352 shares during the quarter. Lord Abbett & CO. LLC owned about 2.24% of Marcus & Millichap worth $34,465,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Franklin Resources Inc. increased its holdings in shares of Marcus & Millichap by 10.4% during the third quarter. Franklin Resources Inc. now owns 15,753 shares of the real estate investment trust’s stock valued at $580,000 after acquiring an additional 1,478 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Marcus & Millichap by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 595,145 shares of the real estate investment trust’s stock worth $23,591,000 after purchasing an additional 5,525 shares in the last quarter. Barclays PLC raised its stake in shares of Marcus & Millichap by 104.7% in the third 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 last quarter. State Street Corp lifted its holdings in shares of Marcus & Millichap by 0.3% during the third quarter. State Street Corp now owns 910,655 shares of the real estate investment trust’s stock valued at $36,319,000 after purchasing an additional 2,877 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Marcus & Millichap by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,522 shares of the real estate investment trust’s stock valued at $2,478,000 after buying an additional 1,120 shares during the last quarter. Institutional investors own 62.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company boosted their target price on shares of Marcus & Millichap from $20.00 to $30.00 and gave the company an “underweight” rating in a research report on Friday, September 6th.

Marcus & Millichap Stock Down 1.8 %

Shares of MMI opened at $40.08 on Friday. The business has a 50-day simple moving average of $39.53 and a two-hundred day simple moving average of $37.29. Marcus & Millichap, Inc. has a 52 week low of $29.93 and a 52 week high of $44.24. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -49.48 and a beta of 1.15.

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.