AMP Capital Investors Ltd cut its stake in shares of Macerich Co (NYSE:MAC) by 5.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 140,169 shares of the real estate investment trust’s stock after selling 8,774 shares during the period. AMP Capital Investors Ltd owned 0.10% of Macerich worth $7,965,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Third Avenue Management LLC grew its stake in shares of Macerich by 29.9% during the 2nd quarter. Third Avenue Management LLC now owns 1,580,774 shares of the real estate investment trust’s stock valued at $89,836,000 after buying an additional 363,613 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Macerich by 4.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 443,730 shares of the real estate investment trust’s stock valued at $25,217,000 after acquiring an additional 18,332 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Macerich by 10,136.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 315,603 shares of the real estate investment trust’s stock valued at $17,936,000 after acquiring an additional 312,520 shares in the last quarter. Mackay Shields LLC acquired a new position in shares of Macerich during the 1st quarter valued at $1,022,000. Finally, Toronto Dominion Bank lifted its holdings in shares of Macerich by 17.3% during the 2nd quarter. Toronto Dominion Bank now owns 69,502 shares of the real estate investment trust’s stock valued at $3,948,000 after acquiring an additional 10,273 shares in the last quarter. 96.32% of the stock is owned by institutional investors.
Shares of MAC stock opened at $56.82 on Friday. Macerich Co has a 12 month low of $52.45 and a 12 month high of $69.73. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 2.31 and a beta of 0.80.
Macerich (NYSE:MAC) last issued its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.91). Macerich had a return on equity of 1.58% and a net margin of 2.52%. The firm had revenue of $234.50 million during the quarter, compared to analyst estimates of $216.37 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. sell-side analysts forecast that Macerich Co will post 3.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Friday, August 17th were issued a $0.74 dividend. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $2.96 dividend on an annualized basis and a yield of 5.21%. Macerich’s dividend payout ratio is currently 75.32%.
MAC has been the topic of several recent research reports. Zacks Investment Research lowered shares of Macerich from a “hold” rating to a “sell” rating in a report on Tuesday, August 21st. Goldman Sachs Group upgraded shares of Macerich from a “sell” rating to a “neutral” rating and lifted their target price for the company from $52.00 to $64.00 in a report on Tuesday, July 17th. They noted that the move was a valuation call. Morgan Stanley reduced their target price on shares of Macerich from $62.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, June 14th. SunTrust Banks restated a “hold” rating and set a $60.00 target price on shares of Macerich in a report on Thursday, August 16th. Finally, Bank of America lifted their target price on shares of Macerich from $60.00 to $62.00 and gave the company a “neutral” rating in a report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. Macerich has a consensus rating of “Hold” and an average price target of $64.47.
Macerich Company Profile
Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 53 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.
See Also: Dividend
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