AMP Capital Investors Ltd lowered its stake in shares of Macerich Co (NYSE:MAC) by 2.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,223 shares of the real estate investment trust’s stock after selling 3,946 shares during the quarter. AMP Capital Investors Ltd owned about 0.10% of Macerich worth $7,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. boosted its position in Macerich by 3.5% during the second quarter. BlackRock Inc. now owns 11,835,896 shares of the real estate investment trust’s stock valued at $672,633,000 after purchasing an additional 395,528 shares in the last quarter. Bank of America Corp DE boosted its position in Macerich by 206.8% during the second quarter. Bank of America Corp DE now owns 4,263,864 shares of the real estate investment trust’s stock valued at $242,316,000 after purchasing an additional 2,874,194 shares in the last quarter. Cbre Clarion Securities LLC boosted its position in Macerich by 2.5% during the second quarter. Cbre Clarion Securities LLC now owns 3,892,956 shares of the real estate investment trust’s stock valued at $221,237,000 after purchasing an additional 93,651 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Macerich by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,022,222 shares of the real estate investment trust’s stock valued at $114,924,000 after purchasing an additional 9,694 shares in the last quarter. Finally, Third Avenue Management LLC boosted its position in Macerich by 0.3% during the third quarter. Third Avenue Management LLC now owns 1,585,516 shares of the real estate investment trust’s stock valued at $87,664,000 after purchasing an additional 4,742 shares in the last quarter. 96.68% of the stock is currently owned by institutional investors.
In other news, insider Dana K. Anderson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $51.65, for a total value of $516,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.76% of the company’s stock.
A number of brokerages recently weighed in on MAC. Wells Fargo & Co dropped their price objective on Macerich from $72.50 to $65.50 and set an “outperform” rating on the stock in a research report on Friday. Barclays reissued a “hold” rating and issued a $54.00 price target on shares of Macerich in a report on Sunday, October 14th. BMO Capital Markets reissued a “buy” rating and issued a $64.00 price target on shares of Macerich in a report on Tuesday, September 25th. Zacks Investment Research raised Macerich from a “sell” rating to a “hold” rating in a report on Monday, September 3rd. Finally, SunTrust Banks reissued a “hold” rating and issued a $60.00 price target on shares of Macerich in a report on Thursday, August 16th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. Macerich has an average rating of “Hold” and an average target price of $63.34.
Shares of NYSE MAC opened at $50.64 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 2.13 and a beta of 0.83. Macerich Co has a fifty-two week low of $48.16 and a fifty-two week high of $69.73.
Macerich (NYSE:MAC) last announced its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.32. Macerich had a return on equity of 3.29% and a net margin of 8.35%. The firm had revenue of $242.20 million during the quarter, compared to analysts’ expectations of $220.02 million. During the same period last year, the business posted $0.12 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities analysts anticipate that Macerich Co will post 3.85 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Friday, November 9th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 5.92%. This is a boost from Macerich’s previous quarterly dividend of $0.74. The ex-dividend date was Thursday, November 8th. Macerich’s dividend payout ratio (DPR) is presently 76.34%.
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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 52 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.
Further Reading: What is an SEC Filing?
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