Marcus & Millichap Inc Stock Price, News & Analysis

Marcus & Millichap (NYSE: MMI) announced the addition of Adam Sklaver and Phil Kates as senior vice presidents specializing in property auction services. With a combined 19 years of experience, they have managed over 600 commercial real estate properties with a notable 95% trade rate. Their expertise will enhance Marcus & Millichap's auction capabilities, maximizing value for clients. J.D. Parker, COO, emphasizes that this addition aligns with the company’s goals of expanding services and client results.

Marcus & Millichap (NYSE: MMI) announced the sale of The ERGS Portfolio, a six-property multifamily portfolio comprising 1,077 units, for $302.5 million, averaging $280,872 per unit. The acquisition strengthens the buyer's foothold in Reno’s multifamily market, capitalizing on value-add renovation potential and proximity to major employers in the Tahoe-Reno Industrial Center. This area has seen rapid business growth, with major companies like Tesla and Google contributing to job creation.

Marcus & Millichap, Inc. (NYSE: MMI) announced that John Manning has joined the firm as a senior vice president to oversee capital markets finance services in the Western United States. Manning brings over 20 years of experience, having closed more than $12 billion in real estate originations. His expertise is expected to enhance the company’s capabilities for private and institutional clients. Manning aims to strengthen relationships and expand capital access through his extensive knowledge and connections in the industry.

Marcus & Millichap (NYSE: MMI) has completed the sale of Roadrunner on McDowell, a 356-unit multifamily property in Scottsdale, Arizona, for $193.5 million. This sale marks the highest price per unit ever in Arizona's history for an institutional-sized apartment, averaging $543,539 per unit. The asset, completed in 2022, is strategically located near major employers and offers high-end amenities, fostering significant rental demand.

Marcus & Millichap (MMI) reported record financial results for Q4 and FY 2021, with total revenues increasing by 97.9% to $495.1 million in Q4, and by 80.8% to $1.3 billion for the year. Net income rose to $62.0 million ($1.53 per share) in Q4 and $142.5 million ($3.55 per share) for the year. The Board declared a semi-annual dividend of $0.25 per share and a special dividend of $1.00 per share, both payable on April 4, 2022. The company anticipates continued favorable market conditions and emphasizes growth opportunities in the fragmented Private Client Market segment.

Marcus & Millichap (NYSE: MMI) has declared an initial semi-annual dividend of $0.25 per share, totaling approximately $10.4 million, payable on April 4, 2022, to shareholders of record by March 8, 2022. Additionally, a special dividend of $1.00 per share has been announced, amounting to about $41.7 million, also payable on April 4, 2022. The company aims to enhance shareholder value while pursuing growth strategies.

Marcus & Millichap (NYSE: MMI) announced the appointment of Biran Patel as the senior vice president and national director of its hospitality division. Patel, with over 20 years of experience in the hospitality sector, will lead the division focusing on investment advisory and transaction services for various hospitality properties. J.D. Parker, COO, emphasized Patel's expertise as a vital resource for clients. The firm aims to enhance its platform by leveraging Patel's knowledge and the extensive network of over 2000 investment sales professionals.

Marcus & Millichap, Inc. (NYSE: MMI) will announce its fourth-quarter financial results for the period ending December 31, 2021, on February 18, 2022, before the market opens. A conference call is scheduled for 10:30 a.m. ET on the same day, hosted by CEO Hessam Nadji and CFO Steve DeGennaro. Investors can access the live webcast on the company's website, and a replay will be available after the call. Marcus & Millichap is a leading brokerage firm specializing in commercial real estate, with a significant transaction volume reported for 2020.

Marcus & Millichap (NYSE: MMI) has appointed Greg Willett as first vice president to enhance its Institutional Property Advisors (IPA) multifamily research. Willett, a noted expert with over 25 years of experience, will lead the company’s multifamily research efforts.

His extensive background includes 22 years at RealPage Inc. as chief economist. Willett's insights are expected to provide significant analytical support to institutional investors within the multifamily sector.