Stifel Financial Corp lowered its stake in Macerich Co (NYSE:MAC) by 8.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,888 shares of the real estate investment trust’s stock after selling 14,904 shares during the quarter. Stifel Financial Corp owned about 0.11% of Macerich worth $8,625,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of MAC. Pacer Advisors Inc. raised its position in Macerich by 7.9% in the second quarter. Pacer Advisors Inc. now owns 2,774 shares of the real estate investment trust’s stock worth $161,000 after acquiring an additional 203 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Macerich in the third quarter worth about $216,000. Sun Life Financial INC raised its position in Macerich by 1,864.0% in the second quarter. Sun Life Financial INC now owns 3,928 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 3,728 shares in the last quarter. Amica Pension Fund Board of Trustees bought a new stake in Macerich in the third quarter worth about $229,000. Finally, Riverhead Capital Management LLC raised its position in Macerich by 11.8% in the second quarter. Riverhead Capital Management LLC now owns 4,111 shares of the real estate investment trust’s stock worth $239,000 after acquiring an additional 435 shares in the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have commented on MAC shares. Boenning Scattergood set a $75.00 price target on shares of Macerich and gave the stock a “buy” rating in a research report on Wednesday, November 1st. KeyCorp restated a “buy” rating and set a $75.00 price objective on shares of Macerich in a report on Monday, August 28th. Royal Bank of Canada restated a “buy” rating and set a $66.00 price objective on shares of Macerich in a report on Thursday, November 2nd. J P Morgan Chase & Co upgraded Macerich from a “neutral” rating to an “overweight” rating and set a $68.00 price objective on the stock in a report on Tuesday, September 26th. Finally, Jefferies Group restated a “hold” rating and set a $57.00 price objective on shares of Macerich in a report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $66.50.
Macerich (NYSE:MAC) last announced its earnings results on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.86). The company had revenue of $242.50 million for 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 firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.04 EPS. analysts predict that Macerich Co will post 3.95 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 10th were given a dividend of $0.74 per share. The ex-dividend date was Thursday, November 9th. This represents a $2.96 dividend on an annualized basis and a yield of 4.45%. This is a boost from Macerich’s previous quarterly dividend of $0.71. Macerich’s dividend payout ratio is presently 281.91%.
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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