Marcus & Millichap (MMI)
Brokers commercial property sales and financing through a national buyer-matching platform.
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Brokers commercial real estate investment sales, financing, research, and advisory services for private-client and institutional property owners. Revenue is mostly transaction-based, with execution shaped by deal activity, advisor recruiting and retention, California exposure, and real estate broker licensing.
Specializes in commercial real estate investment sales, financing services, research, and advisory work. The core brokerage line represents property owners and buyers, while Marcus & Millichap Capital Corporation arranges commercial real estate capital-markets solutions. Institutional Property Advisors serves larger institutional and major private clients.
Operations are concentrated in the United States with a Canadian presence. MNet connects listing inventory and buyer needs across the platform, supporting a model built around private-client transactions, local advisors, and national buyer matching.
Revenue is earned mainly when sales or financing transactions close. Performance depends on transaction activity, recruiting and retaining investment sales and financing professionals, California market conditions, and maintaining real estate and broker licenses.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
No analyst notes in the last 24 months.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $216.5M · Total debt $74.2M · Total assets $765.8M · Shareholders' equity $578.9M
- Revenue
- $202.9M
- Operating income
- $2.2M
- Net income
- $3.9M
HistoryDividendAnnual yield
| Institutions | 61.44% | 23.27M shares | |
|---|---|---|---|
| 191 holders · as of Jun 30, 2026 | |||
| Insiders | 41.00% | 15.53M shares | |
| 14 holders · as of Sep 15, 2026 | |||
| Strategic holders | 10.24% | 3.88M shares | |
| 1 holder · as of Aug 7, 2024 | |||
| Adds to | 112.68% | ||
37.87M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 112.68%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
George M. Marcus1Insiderdirector, 10 percent owner | 39.62% | 15.15M | filed May 4, 2026 |
BlackRock, Inc.Strategic | 10.24% | 3.88M | filed Aug 7, 2024 |
BlackRock, Inc.Institution | 9.56% | 3.62M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 6.58% | 2.49M | as of Jun 30, 2026 |
Schroder Investment Management GroupInstitution | 6.03% | 2.29M | as of Jun 30, 2026 |
- George M. Marcus's transaction reports restate only vehicles that traded; the 2021 ownership statement (15.15M) less the 143.5K net shares sold since is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 11, 2026 | Hessam Nadji | director, officer: Chief Executive Officer | −500 | $30.39 |
| Aug 11, 2025 | Lauralee Martin | director | +1,701 | $29.34 |
| Mar 13, 2026 | Hessam Nadji | director, officer: Chief Executive Officer | −1,300 | $25.60 |
- CBRE Group
Scale leader in property sales, debt origination and advisory
- Jones Lang LaSalle
Global brokerage and capital-markets peer
- Newmark Group
Direct U.S. advisory, investment-sales and mortgage-finance rival
- Cushman & Wakefield
Full-service CRE firm with sales, leasing and financing overlap
- Colliers International Group
Commercial real estate and investment-management competitor
- Walker & Dunlop
Multifamily-focused financing and property-sales competitor
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Marcus & Millichap | $30.58 | −0.91% | $1.17B | 84.3 | 42.8 | 1.4 | +17.8% |
| CBRE Group | $140.35 | −2.00% | $41.47B | 32.8 | 17.4 | 1.0 | +15.1% |
| Jones Lang LaSalle | $334.75 | −1.56% | $15.65B | 16.3 | 12.8 | 0.6 | +10.8% |
| Newmark Group | $13.96 | −0.04% | $2.18B | 17.5 | 6.7 | 0.6 | +17.0% |
| Cushman & Wakefield | $12.83 | −0.58% | $3.02B | 44.2 | 8.3 | 0.3 | +11.2% |
| Colliers International Group | $91.24 | −1.26% | $4.60B | 43.0 | 11.5 | 0.8 | +13.3% |
| Walker & Dunlop | $38.59 | +0.55% | $1.32B | 34.3 | 6.9 | 1.0 | +3.5% |
| Median | 33.6 | 9.9 | 0.7 | +12.2% |