Macquarie Group Ltd. reduced its stake in shares of Macerich Co (NYSE:MAC) by 14.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,415 shares of the real estate investment trust’s stock after selling 8,129 shares during the quarter. Macquarie Group Ltd.’s holdings in Macerich were worth $2,661,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of MAC. Aperio Group LLC increased its position in Macerich by 17.7% during the 2nd quarter. Aperio Group LLC now owns 43,636 shares of the real estate investment trust’s stock valued at $2,534,000 after purchasing an additional 6,557 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Macerich by 13.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 21,345 shares of the real estate investment trust’s stock worth $1,239,000 after buying an additional 2,600 shares during the period. First Manhattan Co. purchased a new stake in shares of Macerich in the 2nd quarter worth about $522,000. Korea Investment CORP grew its position in shares of Macerich by 830.8% in the 2nd quarter. Korea Investment CORP now owns 36,300 shares of the real estate investment trust’s stock worth $2,108,000 after buying an additional 32,400 shares during the period. Finally, Honeywell International Inc. grew its position in shares of Macerich by 40.6% in the 2nd quarter. Honeywell International Inc. now owns 19,725 shares of the real estate investment trust’s stock worth $1,145,000 after buying an additional 5,700 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on MAC. BidaskClub raised shares of Macerich from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. BMO Capital Markets set a $55.00 target price on shares of Macerich and gave the stock a “hold” rating in a research report on Monday, October 30th. Boenning Scattergood raised shares of Macerich from a “neutral” rating to an “outperform” rating in a research report on Wednesday, August 23rd. J P Morgan Chase & Co raised shares of Macerich from a “neutral” rating to an “overweight” rating and set a $68.00 target price on the stock in a research report on Tuesday, September 26th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $66.00 target price on shares of Macerich in a research report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $66.80.
Macerich (NYSE:MAC) last announced its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.98 by ($0.86). The firm had revenue of $242.50 million during the quarter, compared to the consensus estimate of $226.00 million. Macerich had a return on equity of 3.56% and a net margin of 14.92%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.04 EPS. research analysts anticipate that Macerich Co will post 3.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were paid a $0.74 dividend. This is a boost from Macerich’s previous quarterly dividend of $0.71. The ex-dividend date was Thursday, November 9th. This represents a $2.96 dividend on an annualized basis and a yield of 4.54%. Macerich’s payout ratio is presently 281.91%.
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Macerich Company Profile
The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.
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