Marcus & Millichap vs CBRE: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Marcus & Millichap Inc (MMI)

Q3 202614 Jul – 9 Oct 2026

▲3▼1

MMI swings to profit as rate surge delays CRE recovery

Apartment supply drop lifts landlord pricing power MMI's own 2026 outlook sees US apartment completions falling about 34% from last year, the lowest since 2014. Less new supply means tighter vacancies and firmer rents, which makes apartment buildings more attractive to buy and sell — more deals means more commissions for MMI.
It is a core demand driver for MMI's brokerage business and is new this period.
Q2 swings to profit, revenue up about 18% MMI's second-quarter revenue rose roughly 18% to about $203 million, and it swung from a year-ago loss to a small profit. Brokerage and financing fees both grew, and the company kept buying back stock and paying its dividend — signs the business is recovering.
Earnings are the clearest evidence of MMI's financial health and are new this period.
Rate surge pushes CRE recovery further out MMI's CEO said the recent jump in interest rates is delaying the commercial real estate sales recovery and disrupting deals already underway. Higher rates make it harder to agree on prices, so deals take longer and some fall apart — a drag on MMI's commissions.
It is the main counterweight to the positive earnings and supply news.
IPA closes $58.7M Phoenix multifamily sale MMI's IPA division sold a 260-unit Phoenix apartment complex for $58.7 million. Big single deals like this show MMI can still close large transactions even in a slow market, and each one adds directly to its brokerage revenue.
It is a concrete example of MMI closing deals despite the rate headwind.

August 202614 Jul – 9 Oct 2026

▲3▼1

MMI swings to profit as rate surge delays CRE recovery

Apartment supply drop lifts landlord pricing power MMI's own 2026 outlook sees US apartment completions falling about 34% from last year, the lowest since 2014. Less new supply means tighter vacancies and firmer rents, which makes apartment buildings more attractive to buy and sell — more deals means more commissions for MMI.
It is a core demand driver for MMI's brokerage business and is new this period.
Q2 swings to profit, revenue up about 18% MMI's second-quarter revenue rose roughly 18% to about $203 million, and it swung from a year-ago loss to a small profit. Brokerage and financing fees both grew, and the company kept buying back stock and paying its dividend — signs the business is recovering.
Earnings are the clearest evidence of MMI's financial health and are new this period.
Rate surge pushes CRE recovery further out MMI's CEO said the recent jump in interest rates is delaying the commercial real estate sales recovery and disrupting deals already underway. Higher rates make it harder to agree on prices, so deals take longer and some fall apart — a drag on MMI's commissions.
It is the main counterweight to the positive earnings and supply news.
IPA closes $58.7M Phoenix multifamily sale MMI's IPA division sold a 260-unit Phoenix apartment complex for $58.7 million. Big single deals like this show MMI can still close large transactions even in a slow market, and each one adds directly to its brokerage revenue.
It is a concrete example of MMI closing deals despite the rate headwind.

Latest14 Jul – 9 Oct 2026

▲3▼1

MMI swings to profit as rate surge delays CRE recovery

Apartment supply drop lifts landlord pricing power MMI's own 2026 outlook sees US apartment completions falling about 34% from last year, the lowest since 2014. Less new supply means tighter vacancies and firmer rents, which makes apartment buildings more attractive to buy and sell — more deals means more commissions for MMI.
It is a core demand driver for MMI's brokerage business and is new this period.
Q2 swings to profit, revenue up about 18% MMI's second-quarter revenue rose roughly 18% to about $203 million, and it swung from a year-ago loss to a small profit. Brokerage and financing fees both grew, and the company kept buying back stock and paying its dividend — signs the business is recovering.
Earnings are the clearest evidence of MMI's financial health and are new this period.
Rate surge pushes CRE recovery further out MMI's CEO said the recent jump in interest rates is delaying the commercial real estate sales recovery and disrupting deals already underway. Higher rates make it harder to agree on prices, so deals take longer and some fall apart — a drag on MMI's commissions.
It is the main counterweight to the positive earnings and supply news.
IPA closes $58.7M Phoenix multifamily sale MMI's IPA division sold a 260-unit Phoenix apartment complex for $58.7 million. Big single deals like this show MMI can still close large transactions even in a slow market, and each one adds directly to its brokerage revenue.
It is a concrete example of MMI closing deals despite the rate headwind.

CBRE Group Inc Class A (CBRE)

Q3 202624 Jul – 26 Sep 2026

▲4

CBRE beats, raises guidance, and wins data-center work as demand broadens

Q2 beat and raised 2026 guidance CBRE reported 30% core EPS growth and raised full-year core EPS guidance to $7.80-$7.90. Revenue rose 16%, all four segments grew profit over 25%, and free cash flow hit about $1.7 billion. A strong quarter plus higher guidance lifts the stock because it shows the business is earning more than expected.
The earnings beat and guidance raise are the period's biggest company-specific price driver.
Data-center demand boom feeds CBRE's services North American data-center leasing hit 25 gigawatts in the first half, double last year, with vacancy at a record-low 1%. CBRE expects power and infrastructure speed to drive site choices. More building means more work for CBRE's project management and facilities teams, supporting revenue.
It explains the structural demand behind CBRE's fastest-growing service lines.
Fermi hires CBRE to run Texas data center Fermi signed CBRE as exclusive operations and maintenance provider for its first Texas Panhandle data center, a five-year deal that can extend to more buildings. This is a concrete contract win that adds recurring services revenue and shows CBRE winning critical-infrastructure work.
A named, signed contract is direct evidence of new revenue for CBRE.
Office and housing demand improving worldwide Tokyo office rents hit a 31-year high with 1.95% vacancy and over 90% pre-leasing at new towers. CBRE also flagged larger industrial leases, a senior-living deal, and Thailand's 100% loan-to-value and fee cuts boosting home buying. Stronger leasing and transactions mean more fees for CBRE.
These regional demand signals show CBRE's core brokerage and advisory markets recovering.

August 202624 Jul – 26 Sep 2026

▲4

CBRE beats, raises guidance, and wins data-center work as demand broadens

Q2 beat and raised 2026 guidance CBRE reported 30% core EPS growth and raised full-year core EPS guidance to $7.80-$7.90. Revenue rose 16%, all four segments grew profit over 25%, and free cash flow hit about $1.7 billion. A strong quarter plus higher guidance lifts the stock because it shows the business is earning more than expected.
The earnings beat and guidance raise are the period's biggest company-specific price driver.
Data-center demand boom feeds CBRE's services North American data-center leasing hit 25 gigawatts in the first half, double last year, with vacancy at a record-low 1%. CBRE expects power and infrastructure speed to drive site choices. More building means more work for CBRE's project management and facilities teams, supporting revenue.
It explains the structural demand behind CBRE's fastest-growing service lines.
Fermi hires CBRE to run Texas data center Fermi signed CBRE as exclusive operations and maintenance provider for its first Texas Panhandle data center, a five-year deal that can extend to more buildings. This is a concrete contract win that adds recurring services revenue and shows CBRE winning critical-infrastructure work.
A named, signed contract is direct evidence of new revenue for CBRE.
Office and housing demand improving worldwide Tokyo office rents hit a 31-year high with 1.95% vacancy and over 90% pre-leasing at new towers. CBRE also flagged larger industrial leases, a senior-living deal, and Thailand's 100% loan-to-value and fee cuts boosting home buying. Stronger leasing and transactions mean more fees for CBRE.
These regional demand signals show CBRE's core brokerage and advisory markets recovering.

Latest24 Jul – 26 Sep 2026

▲4

CBRE beats, raises guidance, and wins data-center work as demand broadens

Q2 beat and raised 2026 guidance CBRE reported 30% core EPS growth and raised full-year core EPS guidance to $7.80-$7.90. Revenue rose 16%, all four segments grew profit over 25%, and free cash flow hit about $1.7 billion. A strong quarter plus higher guidance lifts the stock because it shows the business is earning more than expected.
The earnings beat and guidance raise are the period's biggest company-specific price driver.
Data-center demand boom feeds CBRE's services North American data-center leasing hit 25 gigawatts in the first half, double last year, with vacancy at a record-low 1%. CBRE expects power and infrastructure speed to drive site choices. More building means more work for CBRE's project management and facilities teams, supporting revenue.
It explains the structural demand behind CBRE's fastest-growing service lines.
Fermi hires CBRE to run Texas data center Fermi signed CBRE as exclusive operations and maintenance provider for its first Texas Panhandle data center, a five-year deal that can extend to more buildings. This is a concrete contract win that adds recurring services revenue and shows CBRE winning critical-infrastructure work.
A named, signed contract is direct evidence of new revenue for CBRE.
Office and housing demand improving worldwide Tokyo office rents hit a 31-year high with 1.95% vacancy and over 90% pre-leasing at new towers. CBRE also flagged larger industrial leases, a senior-living deal, and Thailand's 100% loan-to-value and fee cuts boosting home buying. Stronger leasing and transactions mean more fees for CBRE.
These regional demand signals show CBRE's core brokerage and advisory markets recovering.