Heitman Real Estate Securities LLC lessened its stake in shares of Macerich Co (NYSE:MAC) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 174,994 shares of the real estate investment trust’s stock after selling 9,813 shares during the period. Heitman Real Estate Securities LLC owned about 0.12% of Macerich worth $11,494,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Delpha Capital Management LLC purchased a new stake in Macerich during the fourth quarter worth about $156,000. Tower Research Capital LLC TRC increased its stake in shares of Macerich by 870.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the real estate investment trust’s stock worth $214,000 after purchasing an additional 2,924 shares in the last quarter. Miracle Mile Advisors LLC purchased a new position in shares of Macerich in the fourth quarter worth about $250,000. Virtu Financial LLC purchased a new position in shares of Macerich in the fourth quarter worth about $254,000. Finally, Cowen Prime Services LLC purchased a new position in shares of Macerich in the fourth quarter worth about $263,000. Institutional investors and hedge funds own 97.14% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Barclays reduced their target price on shares of Macerich from $62.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 30th. Citigroup reduced their target price on shares of Macerich from $66.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, February 9th. Boenning Scattergood reiterated a “buy” rating and issued a $75.00 target price on shares of Macerich in a research note on Wednesday, February 7th. Morgan Stanley reiterated a “hold” rating on shares of Macerich in a research note on Tuesday, February 6th. Finally, BMO Capital Markets set a $62.00 target price on shares of Macerich and gave the stock a “hold” rating in a research note on Monday, February 5th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $67.26.
Macerich (NYSE:MAC) last issued its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $1.03 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.11). The firm had revenue of $245.30 million for the quarter, compared to analysts’ expectations of $237.90 million. Macerich had a net margin of 14.71% and a return on equity of 3.91%. Macerich’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.17 EPS. equities analysts forecast that Macerich Co will post 3.96 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Wednesday, February 21st were paid a dividend of $0.74 per share. The ex-dividend date was Tuesday, February 20th. This represents a $2.96 annualized dividend and a yield of 5.10%. Macerich’s dividend payout ratio is currently 290.20%.
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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