Is Marcus & Millichap (MMI) stock Halal?

Marcus & Millichap is a leading brokerage firm specializing in commercial real estate. With expertise in facilitating transactions, the company primarily focuses on providing comprehensive investment sales services. Its operations encompass a diverse range of commercial properties, including office buildings, retail spaces, multifamily units, and industrial properties. Marcus & Millichap leverages its vast network of agents and robust research capabilities to deliver tailored solutions that meet the needs of property owners, investors, and developers. Before any of that matters to a Muslim investor, one question comes first: is Marcus & Millichap stock Halal?

Is Marcus & Millichap Shariah compliant?

No. In the October 2026 screening Marcus & Millichap (MMI) does not pass AAOIFI screening: it fails the non-permissible income screen. Real estate begins from a strong position in Shariah screening: buildings and land are permissible assets. What AAOIFI Shariah Standard No. 21 examines for Marcus & Millichap is the mortgage financing behind the portfolio, capped at 30% of market capitalisation, and whether tenant income includes impermissible sources beyond the 5% ceiling.

Does Marcus & Millichap pass the business activity test?

The activity screen is only part of the picture this month: Marcus & Millichap currently fails the non-permissible income screen, so the overall verdict is not compliant regardless of the business itself. The watch item is the tenant roll: rental income from impermissible businesses counts against the 5% ceiling.

Is Marcus & Millichap's income Halal?

No. Marcus & Millichap's income from impermissible sources currently exceeds AAOIFI's 5% revenue ceiling, which makes the stock non-compliant on this screen regardless of the others. The screen is reassessed monthly, so the status can change when new financial statements arrive.

Does Marcus & Millichap meet AAOIFI's debt and investment ratio requirements?

Yes. Both caps hold this month: interest bearing investments and interest bearing debt each stay below 30% of market capitalisation, measured against a market capitalisation of $1.08B (market data as of 1 October 2026). Because the caps move with the share price, our Shariah Supervisory Board has MMI re-screened every month, and the result above always shows the latest verdict.

Why do other halal screeners show a different verdict for Marcus & Millichap?

Screeners can disagree without either being wrong. AAOIFI Shariah Standard No. 21, which Tabadulat applies, measures interest bearing debt and investments against market capitalisation with a 30% ceiling. MSCI and FTSE measure them against total assets with a 33% ceiling, and S&P and Dow Jones Islamic use a multi year average of market capitalisation. Data dates differ too, because each provider reads filings and prices on its own schedule. The same company can therefore pass one standard and fail another in the same month. Tabadulat publishes one answer, the AAOIFI result as of October 2026, and re-screens it every month.

Tabadulat is an ADGM regulated brokerage whose license covers Shari'a Compliant Regulated Activities, as the FSRA permission names them. New to the terminology? Gharar and Maysir, Sukuk, Zakat and purification are all explained in plain English.

New to the screening method? Read REITs: Halal Real Estate for Muslim Investors