303,500 Shares in Macerich Company (The) $MAC Acquired by Nordea Investment Management AB

Nordea Investment Management AB bought a new stake in shares of Macerich Company (The) (NYSE:MAC) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 303,500 shares of the real estate investment trust’s stock, valued at approximately $5,326,000. Nordea Investment Management AB owned approximately 0.12% of Macerich as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Macerich by 39.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 388,219 shares of the real estate investment trust’s stock valued at $7,066,000 after buying an additional 109,413 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Macerich by 14.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,322 shares of the real estate investment trust’s stock worth $1,080,000 after acquiring an additional 7,487 shares in the last quarter. SG Americas Securities LLC grew its holdings in Macerich by 1,110.2% during the 3rd quarter. SG Americas Securities LLC now owns 185,832 shares of the real estate investment trust’s stock worth $3,382,000 after acquiring an additional 170,477 shares in the last quarter. Asset Management One Co. Ltd. increased its position in Macerich by 1.0% during the 3rd quarter. Asset Management One Co. Ltd. now owns 361,094 shares of the real estate investment trust’s stock valued at $6,572,000 after purchasing an additional 3,715 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of Macerich by 35.0% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 724,233 shares of the real estate investment trust’s stock valued at $13,181,000 after purchasing an additional 187,900 shares in the last quarter. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Macerich Stock Performance

Shares of MAC stock opened at $18.77 on Friday. Macerich Company has a 12-month low of $12.48 and a 12-month high of $21.12. The business’s fifty day simple moving average is $17.94 and its 200-day simple moving average is $17.57. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.97. The company has a market cap of $4.81 billion, a PE ratio of -11.80, a PEG ratio of 3.61 and a beta of 2.06.

Macerich (NYSE:MAC) last announced its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). Macerich had a negative return on equity of 14.21% and a negative net margin of 37.97%.The business had revenue of $253.26 million for the quarter, compared to analysts’ expectations of $246.77 million. During the same quarter last year, the firm earned $0.38 earnings per share. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. Analysts expect that Macerich Company will post 1.55 earnings per share for the current fiscal year.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 15th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, December 15th. Macerich’s dividend payout ratio (DPR) is presently -42.77%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MAC shares. Jefferies Financial Group reiterated a “buy” rating and set a $21.00 price objective on shares of Macerich in a research note on Monday, December 15th. Scotiabank upped their target price on Macerich from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, November 13th. Mizuho set a $21.00 price target on Macerich in a report on Friday, January 9th. Bank of America upgraded Macerich from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $19.00 to $23.00 in a research note on Friday, September 26th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Macerich in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.67.

Macerich Profile

The Macerich Company (NYSE: MAC) is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich’s core activities encompass property and asset management, leasing, marketing and redevelopment services.