Announcement • Jul 18
Ipa Capital Markets, A Division of Marcus & Millichap Announces Appointment of Ryan Demadis as Managing Director IPA Capital Markets, a division of Marcus & Millichap had Ryan Demadis hired as a managing director in its Boston office. In his new role, Demadis reported to Marc Sznajderman, senior managing director and head of production for the firm’s Eastern region. Demadis had financing experience across a wide range of asset classes, with a primary focus on industrial and multifamily properties throughout the Northeast. He specialized in ground-up construction and structured transactions and had closed more than $1 billion in debt and equity financing, working with capital sources including life companies, Fannie Mae, Freddie Mac, banks, debt funds and institutional equity investors. Prior to joining IPA Capital Markets, Demadis served as a senior vice president with Northmarq for more than a decade. Earlier in his career, he was part of the office leasing and investment sales team at RM Bradley in Hartford, Connecticut, where he focused on tenant and landlord representation. Demadis held a Bachelor of Science degree in real estate and urban economics with a concentration in finance from the University of Connecticut School of Business. He was an active member of NAIOP and REFA and served as vice president of the board of The RiseUP Group, a nonprofit focused on youth development, mentoring, and public art in Connecticut. New Risk • Jul 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (8.1% average weekly change). Announcement • Jul 02
Marcus & Millichap Appoints Andee Robb as Head of Retail Leasing & Advisory Services Marcus & Millichap announced that Andee Robb has joined Marcus & Millichap as head of Retail Leasing & Advisory Services, a newly established role that reflects Marcus & Millichap's continued investment in providing market-leading solutions to clients. Robb's extensive retail real estate experience includes deep expertise in leasing, portfolio optimization, transaction management, and brokerage operations. Over more than 20 years in commercial real estate, Robb has held senior leadership positions with leading retail real estate organizations, advising national and global brands on market expansion, and real estate strategy. Most recently, she served as executive vice president of transaction management within JLL's Retail Corporate Services group, where she led portfolio strategy and transaction management programs for major retailers. Robb's appointment marks Marcus & Millichap's third major senior retail leadership hire this quarter. In May, the firm appointed longtime retail real estate specialist Michael Puline to the position of senior managing director and national director of retail. Earlier in June, the company named Thomas Gorman senior managing director and national net lease division leader. Announcement • Jun 29
Marcus & Millichap, Inc. Appoints Thomas Gorman as Senior Managing Director and National Director of Net Lease Division Marcus & Millichap, Inc. announced that Thomas Gorman had been appointed senior managing director and leader of its national net lease division, a newly created leadership role that reflects Marcus & Millichap's continued investment in expanding the firm's national net lease business. Gorman will oversee the ongoing growth of the national net lease division, partner with agents to strengthen existing industry relationships, and untap strategic growth opportunities. During his over 20-year career, Gorman has held senior positions with national commercial real estate platforms where he advised institutional investors, REITs, developers, and private clients on net lease acquisitions, dispositions, financing, and portfolio strategy. He began his career in commercial real estate as a single-tenant net-leased investment advisor. In addition to being a successful broker, Gorman has recruited, trained, and mentored investment sales teams and launched brokerage offices. Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. Independent Director Collete Dixon was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 16
Marcus & Millichap, Inc. Appoints Michael Puline as Senior Managing Director and National Director of Retail Division Marcus & Millichap, Inc. announced that commercial real estate executive Michael Puline has joined the firm as senior managing director and national director of its retail division. Puline will guide the strategic growth of Marcus & Millichap's and Institutional Property Advisors’ (IPA) retail divisions and lead the company’s retail advisory teams, helping to ensure seamless execution and client service delivery. Over the course of his 25-plus-year career, Puline has executed more than 2,500 leasing and sale transactions totaling $8.5 billion and developed deep relationships with institutional investors, REIT executives, and major retailers. Prior to joining Marcus & Millichap, he held a senior leadership role with a Blackstone portfolio company, where he led national retailer strategy and research for a $9 billion, 19-million-square-foot retail portfolio. Announcement • Apr 23
Marcus & Millichap, Inc. to Report Q1, 2026 Results on May 07, 2026 Marcus & Millichap, Inc. announced that they will report Q1, 2026 results Pre-Market on May 07, 2026 Announcement • Mar 19
Marcus & Millichap, Inc., Annual General Meeting, Apr 30, 2026 Marcus & Millichap, Inc., Annual General Meeting, Apr 30, 2026. Location: edge.media-server.com/mmc/p/dpnyjxmm, United States Announcement • Feb 11
Marcus & Millichap, Inc. Declares Regular Semi-Annual Dividend, Payable on April 3, 2026 Marcus & Millichap Inc. announced that its Board of Directors has declared a regular semi-annual dividend of $0.25 per share, or approximately $10.0 million. The dividend will be payable on April 3, 2026, to shareholders of record as of the close of business on March 13, 2026. Any and all future dividends are subject to review and approval by the Board of Directors. Announcement • Jan 29
Marcus & Millichap, Inc. to Report Q4, 2025 Results on Feb 13, 2026 Marcus & Millichap, Inc. announced that they will report Q4, 2025 results Pre-Market on Feb 13, 2026 Board Change • Dec 30
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. Independent Director Collete Dixon was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 18
Marcus & Millichap, Inc. to Report Q3, 2025 Results on Nov 07, 2025 Marcus & Millichap, Inc. announced that they will report Q3, 2025 results Pre-Market on Nov 07, 2025 Announcement • Aug 01
Marcus & Millichap, Inc. Declares Regular Semi-Annual Dividend, Payable on October 6, 2025 Marcus & Millichap, Inc. Board of Directors has declared a regular semi-annual dividend of $0.25 per share, or approximately $10.2 million. The dividend will be payable on October 6, 2025, to shareholders of record as of the close of business on September 15, 2025. Any and all future dividends are subject to review and approval by the Board of Directors. Announcement • Jul 17
Marcus & Millichap, Inc. to Report Q2, 2025 Results on Aug 07, 2025 Marcus & Millichap, Inc. announced that they will report Q2, 2025 results Pre-Market on Aug 07, 2025 Announcement • Jun 30
Marcus & Millichap, Inc.(NYSE:MMI) dropped from Russell 2000 Dynamic Index Marcus & Millichap, Inc.(NYSE:MMI) dropped from Russell 2000 Dynamic Index Announcement • May 01
Marcus & Millichap, Inc. Announces Executive Changes As part of a management reorganization of Marcus & Millichap, Inc., effective April 29, 2025, John David Parker, formerly the Chief Operating Officer, Eastern Division, has been promoted to Executive Vice President and Chief Operating Officer of the Company, overseeing all brokerage operations. Richard Matricaria, formerly the Company’s Executive Vice President and Chief Operating Officer, Western Division, has been named Senior Vice President and Chief Growth Officer. He will oversee the Company’s key growth initiatives including strategic partners, investments, and overseeing the Company’s talent development. Mr. Matricaria will no longer be an executive officer in his new capacity. Additionally, Greg LaBerge, the Company’s Chief Administrative Officer, will transition to the role of Senior Vice President, Chief Client Officer effective May 1, 2025, overseeing the Company’s specialty divisions. Announcement • Apr 23
Marcus & Millichap, Inc. to Report Q1, 2025 Results on May 07, 2025 Marcus & Millichap, Inc. announced that they will report Q1, 2025 results Pre-Market on May 07, 2025 Announcement • Mar 28
Marcus & Millichap, Inc. Announces Executive Changes On March 21, 2025, Kurt Schwarz, Chief Accounting Officer and Principal Accounting Officer of Marcus & Millichap, Inc. notified the Company of his decision to retire and resign from all of his positions with the Company and its subsidiaries, effective March 24, 2025. Mr. Schwarz will continue as an employee until April 18, 2025. There were no disagreements between Mr. Schwarz or the Company, nor is his departure related to any financial or accounting operations, policies or practices of the Company. Effective March 25, 2025, the Company appointed Fabrice De Bossch re as the Company's acting Chief Accounting Officer and Principal Accounting Officer, subject to the Board of Director's formal appointment, effective May 1, 2025. Mr. De Bossch re will serve as the principal accounting officer for the purposes of the Company's filings with the Securities and Exchange Commission and will have responsibility for corporate accounting, financial reporting and internal controls. Mr. De Bossch re, 48, has served as First Vice President, Corporate Controller at the Company since January 2022. Prior to joining the Company, Mr. De Bossch re spent 16 years leading international finance, accounting, and M&A activities at Publicis Groupe, a global communications company, and its subsidiaries, including serving as Chief Financial Officer successively in South Korea, India and Canada from December 2009 to January 2016 and as a Vice President of Finance for the Americas region from January 2019 until December 2021. Mr. De Bossch re earned his master's degree in law and private asset management from the Universit d'Orl ans. Announcement • Feb 28
Marcus & Millichap, Inc., Annual General Meeting, May 01, 2025 Marcus & Millichap, Inc., Annual General Meeting, May 01, 2025. Announcement • Feb 07
Marcus & Millichap, Inc. Declares Regular Semi-Annual Dividend, Payable on April 4, 2025 Marcus & Millichap Inc. announced that its board of directors has declared a regular semi-annual dividend of $0.25 per share, or approximately $9.8 million. The dividend will be payable on April 4, 2025 to shareholders of record as of the close of business on March 12, 2025. Announcement • Feb 03
Marcus & Millichap, Inc. to Report Q4, 2024 Results on Feb 14, 2025 Marcus & Millichap, Inc. announced that they will report Q4, 2024 results Pre-Market on Feb 14, 2025 Announcement • Jan 25
Marcus & Millichap Announces the Addition of Evan Wayne as Chief Information Officer Marcus & Millichap announced the addition of Evan Wayne as chief information officer (CIO). Wayne will spearhead the execution of all technology initiatives and expand the company’s longstanding commitment to utilizing technology to service and support its clients, brokers, capital markets professionals, and corporate staff. Previously, Wayne was chief information officer for World Market, where he created an independent technology organization and led an extensive team of technology professionals. He spearheaded a comprehensive digital transformation strategy, created new marketing platforms to support enterprise marketing efforts, replaced and modernized critical enterprise systems, and integrated advanced analytics data-driven personalization. Wayne has also served as the vice president technology of digital, corporate systems, infrastructure, and enterprise security for Rodan + Fields LLC. Reported Earnings • Nov 10
Third quarter 2024 earnings released: US$0.14 loss per share (vs US$0.24 loss in 3Q 2023) Third quarter 2024 results: US$0.14 loss per share (improved from US$0.24 loss in 3Q 2023). Revenue: US$168.5m (up 4.0% from 3Q 2023). Net loss: US$5.39m (loss narrowed 42% from 3Q 2023). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 15% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Announcement • Oct 17
Marcus & Millichap, Inc. to Report Q3, 2024 Results on Nov 08, 2024 Marcus & Millichap, Inc. announced that they will report Q3, 2024 results Pre-Market on Nov 08, 2024 Upcoming Dividend • Sep 09
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 16 September 2024. Payment date: 04 October 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (2.4%). Reported Earnings • Aug 08
Second quarter 2024 earnings released: US$0.14 loss per share (vs US$0.23 loss in 2Q 2023) Second quarter 2024 results: US$0.14 loss per share (improved from US$0.23 loss in 2Q 2023). Revenue: US$158.4m (down 2.8% from 2Q 2023). Net loss: US$5.54m (loss narrowed 37% from 2Q 2023). Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 16% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Declared Dividend • Aug 05
Dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 16th September 2024 Payment date: 4th October 2024 Dividend yield will be 1.3%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 2 years but payments have been stable during that time. Announcement • Aug 02
Marcus & Millichap Proposes Regular Semi-Annual Dividend, Payable on October 4, 2024 Marcus & Millichap, Inc. proposed that its Board of Directors has declared a regular semi-annual dividend of $0.25 per share, or approximately $10.2 million. The dividend will be payable on October 4, 2024 to shareholders of record as of the close of business on September 16, 2024. Any and all future dividends are subject to review and approval by the Board of Directors. Announcement • Jul 17
Marcus & Millichap, Inc. to Report Q2, 2024 Results on Aug 07, 2024 Marcus & Millichap, Inc. announced that they will report Q2, 2024 results Pre-Market on Aug 07, 2024 Announcement • Jul 03
Marcus & Millichap, Inc.(NYSE:MMI) dropped from Russell 2000 Growth-Defensive Index Marcus & Millichap, Inc.(NYSE:MMI) dropped from Russell 2000 Growth-Defensive Index Announcement • Jun 29
Marcus & Millichap, Inc. Appoints Robert “Bobby” Bloch as Senior Vice President Marcus & Millichap, Inc. announced that veteran self-storage broker Robert “Bobby” Bloch has joined the firm’s Washington, D.C. office as a senior vice president. Bloch will focus on self-storage investment property acquisitions and dispositions on behalf of clients. He has 30 years of investment sales, management, and business development experience. Previously with Cushman & Wakefield, Bloch specializes in self-storage acquisition and dispositions in the Mid-Atlantic and Northeast United States. He has completed over $800 million in self-storage investment property sales since 2013 on behalf of private investors, real estate investment trusts, and institutional-level funds and firms. Announcement • Jun 13
Marcus & Millichap, Inc. Appoints Jan Coonley as Chief People Officer Marcus & Millichap announced the hiring of chief people officer Jan Coonley. Coonley will be responsible for overseeing all aspects of the company's human resources activities, including systems, employee engagement, performance enhancement, talent retention and acquisition, skills and leadership development, and diversity, equity and inclusion. Prior to joining Marcus & Millichap, Coonley served as a strategic and advisory partner at Heritage Bank of Commerce (HBC). As HBC's chief people and culture officer, she was responsible for all aspects of human resources, including talent acquisition, leadership development strategies, and compensation and benefits management. She also served as the executive liaison to the HBC board's personnel and compensation committee. Prior to HBC, Coonley was head of culture at J.P. Morgan Chase & Co.'s consumer bank, and held several keyleadership roles at U.S. Bank, culminating as the vice president of strategy and transformation. Reported Earnings • May 09
First quarter 2024 earnings released: US$0.26 loss per share (vs US$0.15 loss in 1Q 2023) First quarter 2024 results: US$0.26 loss per share (further deteriorated from US$0.15 loss in 1Q 2023). Revenue: US$129.1m (down 17% from 1Q 2023). Net loss: US$9.99m (loss widened 71% from 1Q 2023). Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 16% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Buy Or Sell Opportunity • May 02
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 17% to €29.20. The fair value is estimated to be €37.46, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Announcement • Apr 17
Marcus & Millichap, Inc. to Report Q1, 2024 Results on May 08, 2024 Marcus & Millichap, Inc. announced that they will report Q1, 2024 results on May 08, 2024 Buy Or Sell Opportunity • Apr 03
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 20% to €30.00. The fair value is estimated to be €37.50, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Announcement • Mar 23
Marcus & Millichap, Inc., Annual General Meeting, May 02, 2024 Marcus & Millichap, Inc., Annual General Meeting, May 02, 2024, at 14:00 Pacific Standard Time. Agenda: To consider Elect three Class II Directors nominated by company's Board of Directors, each to serve for a three-year term; to ratify the appointment of Ernst & Young LLP as company's independent registered public accounting firm for 2024; to consider advisory vote to approve executive compensation; to consider approval of the Amended and Restated 2013 Omnibus Equity Incentive Plan; and to consider approval of the Amended and Restated 2013 Employee Stock Purchase Plan. Recent Insider Transactions • Mar 14
Executive VP & COO of Western Division recently sold €229k worth of stock On the 12th of March, Richard Matricaria sold around 7k shares on-market at roughly €30.51 per share. This transaction amounted to 51% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €831k more than they bought in the last 12 months. Upcoming Dividend • Mar 04
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 11 March 2024. Payment date: 05 April 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.4%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (3.7%). Reported Earnings • Feb 18
Full year 2023 earnings released: US$0.88 loss per share (vs US$2.61 profit in FY 2022) Full year 2023 results: US$0.88 loss per share (down from US$2.61 profit in FY 2022). Revenue: US$645.9m (down 50% from FY 2022). Net loss: US$34.0m (down 133% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Declared Dividend • Feb 12
Dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 11th March 2024 Payment date: 5th April 2024 Dividend yield will be 1.4%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 41% per year over the past 2 years and payments have been stable during that time. Announcement • Feb 10
Marcus & Millichap, Inc. Declares Semi Annual Dividend, Payable on April 5, 2024 Marcus & Millichap Inc. announced that its Board of Directors has declared a regular semi-annual dividend of $0.25 per share, or approximately $10.1 million. The dividend will be payable on April 5, 2024 to shareholders of record as of the close of business on March 12, 2024. Announcement • Jan 26
Marcus & Millichap, Inc. to Report Q4, 2023 Results on Feb 16, 2024 Marcus & Millichap, Inc. announced that they will report Q4, 2023 results Pre-Market on Feb 16, 2024 Recent Insider Transactions • Nov 10
Executive VP & COO of Western Division recently sold €250k worth of stock On the 7th of November, Richard Matricaria sold around 8k shares on-market at roughly €29.56 per share. This transaction amounted to 70% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €353k. Insiders have been net sellers, collectively disposing of €797k more than they bought in the last 12 months. Reported Earnings • Nov 05
Third quarter 2023 earnings released: US$0.24 loss per share (vs US$0.53 profit in 3Q 2022) Third quarter 2023 results: US$0.24 loss per share (down from US$0.53 profit in 3Q 2022). Revenue: US$162.0m (down 50% from 3Q 2022). Net loss: US$9.24m (down 143% from profit in 3Q 2022). Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 16% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has remained flat. Announcement • Oct 14
Marcus & Millichap, Inc. to Report Q3, 2023 Results on Nov 03, 2023 Marcus & Millichap, Inc. announced that they will report Q3, 2023 results Pre-Market on Nov 03, 2023 Upcoming Dividend • Sep 07
Upcoming dividend of US$0.25 per share at 1.5% yield Eligible shareholders must have bought the stock before 14 September 2023. Payment date: 06 October 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.5%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (3.5%). Recent Insider Transactions • Aug 28
Lead Independent Director recently sold €353k worth of stock On the 23rd of August, Don Watters sold around 12k shares on-market at roughly €29.39 per share. This transaction amounted to 42% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €593k more than they bought in the last 12 months. Reported Earnings • Aug 06
Second quarter 2023 earnings released: US$0.23 loss per share (vs US$1.05 profit in 2Q 2022) Second quarter 2023 results: US$0.23 loss per share (down from US$1.05 profit in 2Q 2022). Revenue: US$162.9m (down 59% from 2Q 2022). Net loss: US$8.73m (down 121% from profit in 2Q 2022). Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 13% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 14% per year. Announcement • Aug 03
Marcus & Millichap Proposes Regular Semi-Annual Dividend, Payable on October 6, 2023 Marcus & Millichap, Inc. proposed that its Board of Directors has declared a regular semi-annual dividend of $0.25 per share, or approximately $10.1 million. The dividend will be payable on October 6, 2023 to shareholders of record as of the close of business on September 15, 2023. Any and all future dividends are subject to review and approval by the Board of Directors. Announcement • Jul 14
Marcus & Millichap, Inc. to Report Q2, 2023 Results on Aug 04, 2023 Marcus & Millichap, Inc. announced that they will report Q2, 2023 results Pre-Market on Aug 04, 2023 Reported Earnings • May 07
First quarter 2023 earnings released: US$0.15 loss per share (vs US$0.82 profit in 1Q 2022) First quarter 2023 results: US$0.15 loss per share (down from US$0.82 profit in 1Q 2022). Revenue: US$154.8m (down 52% from 1Q 2022). Net loss: US$5.83m (down 118% from profit in 1Q 2022). Revenue is forecast to grow 4.3% p.a. on average during the next 2 years, compared to a 34% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Mar 17
Executive VP & COO of Eastern Division recently sold €144k worth of stock On the 14th of March, John Parker sold around 5k shares on-market at roughly €28.89 per share. This transaction amounted to 46% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €771k more than they bought in the last 12 months. Upcoming Dividend • Mar 06
Upcoming dividend of US$0.25 per share at 1.4% yield Eligible shareholders must have bought the stock before 13 March 2023. Payment date: 06 April 2023. Payout ratio is a comfortable 19% but the company is paying out more than the cash it is generating. Trailing yield: 1.4%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.9%). Reported Earnings • Feb 18
Full year 2022 earnings released: EPS: US$2.61 (vs US$3.57 in FY 2021) Full year 2022 results: EPS: US$2.61 (down from US$3.57 in FY 2021). Revenue: US$1.30b (flat on FY 2021). Net income: US$104.2m (down 27% from FY 2021). Profit margin: 8.0% (down from 11% in FY 2021). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Feb 11
Marcus & Millichap Inc Declares Regular Semi-Annual Dividend, Payable on April 6, 2023 Marcus & Millichap Inc. announced that its Board of Directors has declared a regular semi-annual dividend of $0.25 per share, or approximately $10.4 million. The dividend will be payable on April 6, 2023, to shareholders of record as of the close of business on March 14, 2023. Any and all future dividends are subject to review and approval by the Board of Directors. Announcement • Jan 31
Marcus & Millichap, Inc. to Report Q4, 2022 Results on Feb 17, 2023 Marcus & Millichap, Inc. announced that they will report Q4, 2022 results at 9:30 AM, US Eastern Standard Time on Feb 17, 2023 Announcement • Jan 22
Marcus & Millichap, Inc. Hires Jim Palmer as Senior Vice President Marcus & Millichap, Inc. announced that Jim Palmer was hired as senior vice president responsible for overseeing the firm’s Commercial Property Auction Services division of its brokerage business. Formed in 2022, the division offers clients an accelerated way to buy and sell commercial property as a complement to the firm’s traditional property marketing channels. Palmer brings over 25 years of real estate and technology experience to Marcus & Millichap. Most recently he served eight years on Ten-X Co.’s leadership team where he managed the broker channel, as well as many of the firm's large institutional clients. Buying Opportunity • Dec 29
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €40.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Earnings per share has grown by 39%. Revenue is forecast to grow by 0.3% in a year. Earnings is forecast to decline by 7.9% in the next year. Recent Insider Transactions • Dec 17
Insider recently sold €51k worth of stock On the 13th of December, Gregory LaBerge sold around 2k shares on-market at roughly €33.96 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €807k more than they bought in the last 12 months. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 5 highly experienced directors. Independent Director Collete Dixon was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 05
Third quarter 2022 earnings released: EPS: US$0.53 (vs US$0.85 in 3Q 2021) Third quarter 2022 results: EPS: US$0.53 (down from US$0.85 in 3Q 2021). Revenue: US$323.8m (down 2.6% from 3Q 2021). Net income: US$21.4m (down 37% from 3Q 2021). Profit margin: 6.6% (down from 10% in 3Q 2021). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 2 years, compared to a 13% decline forecast for the Real Estate industry in Germany. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Oct 13
Marcus & Millichap, Inc. to Report Q3, 2022 Results on Nov 04, 2022 Marcus & Millichap, Inc. announced that they will report Q3, 2022 results Pre-Market on Nov 04, 2022 Announcement • Oct 11
Marcus & Millichap, Inc. Announces Major Technology Enhancement for Accessing Its Exclusive Inventory Marcus & Millichap announced the launch of MyMMI, a customizable brokerage tool that automates perpetual matching of investors’ property search preferences with the firm’s exclusive listings. With the MyMMI portal, automatic notifications are sent when newproperties become available and price changes that match criteria occur. Users can customize preferences to receive target market research data and industry event news matching their investment goals. Upcoming Dividend • Sep 07
Upcoming dividend of US$0.25 per share Eligible shareholders must have bought the stock before 14 September 2022. Payment date: 06 October 2022. Payout ratio is a comfortable 5.9% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.1%). Board Change • Sep 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 5 highly experienced directors. Independent Director Collete Dixon was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Aug 18
Insider recently sold €86k worth of stock On the 16th of August, Gregory LaBerge sold around 2k shares on-market at roughly €39.75 per share. In the last 3 months, there was an even bigger sale from another insider worth €261k. Insiders have been net sellers, collectively disposing of €925k more than they bought in the last 12 months. Reported Earnings • Aug 06
Second quarter 2022 earnings released: EPS: US$1.05 (vs US$0.79 in 2Q 2021) Second quarter 2022 results: EPS: US$1.05 (up from US$0.79 in 2Q 2021). Revenue: US$396.0m (up 39% from 2Q 2021). Net income: US$42.2m (up 34% from 2Q 2021). Profit margin: 11% (in line with 2Q 2021). Over the next year, revenue is forecast to grow 3.1% compared to a 45% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Aug 05
Marcus & Millichap, Inc. (NYSE:MMI) announces an Equity Buyback for $70 million worth of its shares. Marcus & Millichap, Inc. (NYSE:MMI) announces a share repurchase program. Under the program, the company will repurchase up to $70 million worth of its shares. The repurchase program does not have an expiration date. Announcement • Aug 04
Marcus & Millichap, Inc. Declares Semi-Annual Dividend, Payable on October 6, 2022 Marcus & Millichap, Inc. declares semi-annual regular dividend of $0.25 per share, or approximately $10.4 million, payable on October 6, 2022 to stockholders of record as of the close of business on September 15, 2022. Announcement • Jul 15
Marcus & Millichap, Inc. to Report Q2, 2022 Results on Aug 05, 2022 Marcus & Millichap, Inc. announced that they will report Q2, 2022 results Pre-Market on Aug 05, 2022 Recent Insider Transactions • May 25
Insider recently sold €90k worth of stock On the 20th of May, Gregory LaBerge sold around 2k shares on-market at roughly €37.98 per share. In the last 3 months, there was an even bigger sale from another insider worth €179k. Insiders have been net sellers, collectively disposing of €831k more than they bought in the last 12 months. Reported Earnings • May 07
First quarter 2022 earnings released: EPS: US$0.82 (vs US$0.38 in 1Q 2021) First quarter 2022 results: EPS: US$0.82 (up from US$0.38 in 1Q 2021). Revenue: US$319.5m (up 74% from 1Q 2021). Net income: US$32.8m (up 118% from 1Q 2021). Profit margin: 10% (up from 8.2% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Apr 14
Marcus & Millichap, Inc. to Report Q1, 2022 Results on May 06, 2022 Marcus & Millichap, Inc. announced that they will report Q1, 2022 results Pre-Market on May 06, 2022 Announcement • Apr 08
Marcus & Millichap, Inc. Announces Management Changes Marcus & Millichap announced Adam Sklaver and Phil Kates joined the firm as senior vice presidents specializing in property auction services. Sklaver and Kates will be responsible for commercial real estate (CRE) auction sales and securing the best possible prices for sellers in an accelerated time frame. Sklaver and Kates most recently ran CBRE’s auction team. Sklaver and Kates have 19 years of combined CRE auction experience and have assisted institutional and private clients in the sale of over 600 CRE properties spanning all asset classes via online auctions. Recent Insider Transactions • Mar 16
Insider recently sold €179k worth of stock On the 14th of March, John Parker sold around 4k shares on-market at roughly €41.44 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €741k more than they bought in the last 12 months. Reported Earnings • Feb 19
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$3.57 (up from US$1.08 in FY 2020). Revenue: US$1.30b (up 81% from FY 2020). Net income: US$142.5m (up 233% from FY 2020). Profit margin: 11% (up from 6.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 11%. Over the next year, revenue is expected to shrink by 8.8% compared to a 25% decline forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 7% per year. Announcement • Feb 01
Marcus & Millichap, Inc. Announces Executive Changes Marcus & Millichap, Inc. announced the hiring of Biran Patel as senior vice president and national director of the firm’s hospitality division. Patel will be responsible for overseeing the hospitality division, which focuses exclusively on providing investment advisory and transaction services for hospitality, lodging, resort, marina, and golf properties. Most recently, Biran served as an officer for the Asian American Hotel Owners Association (AAHOA) since 2017 and as chairman from 2020 through 2021. Reported Earnings • Nov 08
Third quarter 2021 earnings released: EPS US$0.85 (vs US$0.15 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$332.4m (up 110% from 3Q 2020). Net income: US$33.9m (up 462% from 3Q 2020). Profit margin: 10% (up from 3.8% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Recent Insider Transactions • Sep 16
Insider recently sold €214k worth of stock On the 13th of September, J. Parker sold around 6k shares on-market at roughly €33.73 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €6.1m more than they bought in the last 12 months. Recent Insider Transactions • Aug 18
Insider recently sold €92k worth of stock On the 16th of August, Richard Matricaria sold around 3k shares on-market at roughly €33.72 per share. In the last 3 months, they made an even bigger sale worth €124k. Insiders have been net sellers, collectively disposing of €5.9m more than they bought in the last 12 months. Reported Earnings • Aug 08
Second quarter 2021 earnings released: EPS US$0.79 (vs US$0.003 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$284.9m (up 143% from 2Q 2020). Net income: US$31.5m (up US$31.4m from 2Q 2020). Profit margin: 11% (up from 0.1% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Recent Insider Transactions • Jun 05
Insider recently sold €124k worth of stock On the 2nd of June, Richard Matricaria sold around 4k shares on-market at roughly €32.54 per share. In the last 3 months, there was an even bigger sale from another insider worth €1.7m. Insiders have been net sellers, collectively disposing of €5.7m more than they bought in the last 12 months. Reported Earnings • May 08
First quarter 2021 earnings released: EPS US$0.38 (vs US$0.33 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: US$184.0m (down 3.5% from 1Q 2020). Net income: US$15.0m (up 15% from 1Q 2020). Profit margin: 8.2% (up from 6.9% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Mar 20
Founder & Chairman recently sold €1.7m worth of stock On the 12th of March, George Marcus sold around 60k shares on-market at roughly €28.87 per share. This was the largest sale by an insider in the last 3 months. George has been a seller over the last 12 months, reducing personal holdings by €4.0m. Announcement • Mar 20
Marcus & Millichap, Inc., Annual General Meeting, May 04, 2021 Marcus & Millichap, Inc., Annual General Meeting, May 04, 2021, at 14:00 Pacific Standard Time. Agenda: To elect the two director nominees named in the Proxy Statement; to ratify the appointment of Ernst & Young LLP as independent registered public accounting firm for 2021; to consider advisory vote to approve executive compensation; and to transact such other business as may properly come before the annual meeting (including adjournments and postponements). Is New 90 Day High Low • Mar 06
New 90-day low: €28.60 The company is down 4.0% from its price of €29.80 on 04 December 2020. The German market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 3.0% over the same period. Recent Insider Transactions • Feb 25
President recently sold €734k worth of stock On the 23rd of February, Hessam Nadji sold around 23k shares on-market at roughly €32.63 per share. This was the largest sale by an insider in the last 3 months. Hessam has been a seller over the last 12 months, reducing personal holdings by €1.2m. Reported Earnings • Feb 20
Full year 2020 earnings released: EPS US$1.08 (vs US$1.95 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: US$716.9m (down 11% from FY 2019). Net income: US$42.8m (down 44% from FY 2019). Profit margin: 6.0% (down from 9.5% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 20
Revenue beats expectations Revenue exceeded analyst estimates by 9.1%. Over the next year, revenue is forecast to grow 9.4% compared to a 32% decline forecast for the Real Estate industry in Germany. Announcement • Feb 04
Marcus & Millichap, Inc. to Report Q4, 2020 Results on Feb 18, 2021 Marcus & Millichap, Inc. announced that they will report Q4, 2020 results After-Market on Feb 18, 2021 Is New 90 Day High Low • Jan 15
New 90-day high: €31.20 The company is up 17% from its price of €26.60 on 16 October 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 3.0% over the same period. Is New 90 Day High Low • Dec 29
New 90-day high: €30.80 The company is up 34% from its price of €23.00 on 30 September 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Announcement • Dec 23
Marcus & Millichap, Inc. (NYSE:MMI) acquired assets of LMI Capital. Marcus & Millichap, Inc. (NYSE:MMI) acquired assets of LMI Capital on December 21, 2020. Five originators and an additional five key support team members will be joining Marcus & Millichap's growing financing roster.
Marcus & Millichap, Inc. (NYSE:MMI) completed the acquisition of assets of LMI Capital on December 21, 2020. Is New 90 Day High Low • Nov 25
New 90-day high: €30.40 The company is up 27% from its price of €24.00 on 26 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Recent Insider Transactions • Nov 20
President recently sold €416k worth of stock On the 17th of November, Hessam Nadji sold around 14k shares on-market at roughly €29.54 per share. This was the largest sale by an insider in the last 3 months. This was Hessam's only on-market trade for the last 12 months. Analyst Estimate Surprise Post Earnings • Nov 07
Revenue beats expectations Revenue exceeded analyst estimates by 19%. Over the next year, revenue is forecast to stay flat compared to a 32% decline forecast for the Real Estate industry in Germany. Reported Earnings • Nov 07
Third quarter 2020 earnings released: EPS US$0.15 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: US$158.6m (down 20% from 3Q 2019). Net income: US$6.04m (down 69% from 3Q 2019). Profit margin: 3.8% (down from 9.7% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 2% per year.