Alta Fundamental Advisers LLC increased its position in Macerich Co (NYSE:MAC) by 28.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 484,750 shares of the real estate investment trust’s stock after acquiring an additional 108,000 shares during the quarter. Macerich comprises about 19.4% of Alta Fundamental Advisers LLC’s holdings, making the stock its biggest holding. Alta Fundamental Advisers LLC owned 0.34% of Macerich worth $31,838,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in MAC. Crossmark Global Holdings Inc. bought a new position in shares of Macerich in the third quarter valued at approximately $538,000. Andra AP fonden boosted its position in shares of Macerich by 24.2% in the third quarter. Andra AP fonden now owns 34,400 shares of the real estate investment trust’s stock valued at $1,891,000 after acquiring an additional 6,700 shares during the period. Global X MANAGEMENT CO LLC boosted its position in shares of Macerich by 19.0% in the third quarter. Global X MANAGEMENT CO LLC now owns 7,655 shares of the real estate investment trust’s stock valued at $421,000 after acquiring an additional 1,220 shares during the period. Sei Investments Co. boosted its position in shares of Macerich by 19.8% in the third quarter. Sei Investments Co. now owns 64,624 shares of the real estate investment trust’s stock valued at $3,552,000 after acquiring an additional 10,666 shares during the period. Finally, New York State Common Retirement Fund boosted its position in shares of Macerich by 1.3% in the third quarter. New York State Common Retirement Fund now owns 322,800 shares of the real estate investment trust’s stock valued at $17,744,000 after acquiring an additional 4,000 shares during the period. Institutional investors own 97.14% of the company’s stock.
MAC has been the subject of a number of analyst reports. Deutsche Bank cut their price objective on shares of Macerich from $65.00 to $62.00 and set a “hold” rating for the company in a research report on Friday, February 9th. Wells Fargo & Co raised shares of Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 target price on the stock in a research note on Tuesday, December 19th. Evercore ISI downgraded shares of Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 target price on the stock. in a research note on Monday, December 11th. Zacks Investment Research downgraded shares of Macerich from a “hold” rating to a “sell” rating in a research note on Monday, January 15th. Finally, Citigroup lowered their target price on shares of Macerich from $66.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, February 9th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $67.26.
Macerich (NYSE:MAC) last posted its quarterly earnings results 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 business had revenue of $245.30 million for the quarter, compared to analysts’ expectations of $237.90 million. Macerich had a return on equity of 3.91% and a net margin of 14.71%. The company’s revenue was down 6.2% compared to the same quarter last year. During the same period last year, the business posted $1.17 earnings per share. sell-side analysts predict that Macerich Co will post 3.96 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Wednesday, February 21st were paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 5.09%. The ex-dividend date was Tuesday, February 20th. Macerich’s dividend payout ratio (DPR) is presently 264.29%.
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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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