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Marcus & Millichap stock falls 3.1% after $26 million Brookhaven Manor sale

Marcus & Millichap stock falls 3.1% after $26 million Brookhaven Manor sale
Marcus & Millichap stock falls 3.1%

Marcus & Millichap announced the $26 million sale of Brookhaven Manor, a 134-bed independent living facility in Ann Arbor, Michigan. The stock is down 3.1% on the day at $27.75.

Highlights

  • Marcus & Millichap completed the $26 million sale of Brookhaven Manor, a 134-bed independent living facility in Ann Arbor.
  • Shares of Marcus & Millichap are down 3.1% on the day at $27.75.
  • None of 6 analysts rate Marcus & Millichap stock a buy, with 3 recommending selling the shares.

Marcus & Millichap announced the $26 million sale of Brookhaven Manor, a 134-bed independent living facility in Ann Arbor, Michigan. According to Yield PRO, Jim Knapp, senior managing director investments in Marcus & Millichap’s Detroit office, stated Brookhaven Manor has established a strong market identity in a submarket with limited new seniors housing supply. The company operates in real estate services, employs 854 people and has a market value near $1.16 billion on trailing revenue of $812.2 million.

Downside bias holds as shares stay below key moving averages

The session opened with a sharp gap down from $28.66 to $26.56 before partially retracing the initial drop. Shares of Marcus & Millichap remain below their MA-20, MA-50, and MA-200, reflecting a persistent bearish structure on the daily chart. The nearest resistance is the prior weekly low at $28.04, keeping a lid on rebound attempts. CCI at 167 is deep in overbought territory, which limits the room for further upside on any bounce.

Odds firmly favor further downside as traders focus on the $28.04 level

Traders should watch for a close above $28.04 to show that buyers are following through. The price opened the session sharply lower at $26.56 compared to the prior close at $28.66 and has retraced part of that loss. Even so, over the next five trading days, there is a 26% probability of upside against a 74% chance of downside, with the expected trading range at $26.76 to $28.73. A close above $28.04 would confirm acceptance of the move, while a drop below the recent range would indicate that the move is being faded. On the weekly chart, the longer-term picture stays negative.

Previously it was reported that Marcus & Millichap completed the sale of two multifamily properties in West Hollywood amid mixed technical signals and a cautious trading outlook. With the latest Brookhaven Manor transaction occurring as shares remain under pressure and key technical levels cap rebound efforts, traders should closely monitor for a sustained move above resistance to signal any shift away from the prevailing bearish structure.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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