Crossmark Global Holdings Inc. Invests $538,000 in Macerich Co (MAC)

Crossmark Global Holdings Inc. acquired a new position in shares of Macerich Co (NYSE:MAC) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,790 shares of the real estate investment trust’s stock, valued at approximately $538,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. AEW Capital Management L P lifted its stake in Macerich by 306.7% in the second quarter. AEW Capital Management L P now owns 3,132,200 shares of the real estate investment trust’s stock worth $35,531,000 after acquiring an additional 2,362,121 shares during the period. Canada Pension Plan Investment Board raised its holdings in Macerich by 140.0% in the second quarter. Canada Pension Plan Investment Board now owns 898,583 shares of the real estate investment trust’s stock worth $52,172,000 after purchasing an additional 524,100 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Macerich by 188.1% in the second quarter. Russell Investments Group Ltd. now owns 649,525 shares of the real estate investment trust’s stock worth $37,775,000 after purchasing an additional 424,049 shares in the last quarter. Balyasny Asset Management LLC bought a new position in Macerich in the second quarter worth about $22,446,000. Finally, Third Avenue Management LLC raised its holdings in Macerich by 69.3% in the third quarter. Third Avenue Management LLC now owns 847,701 shares of the real estate investment trust’s stock worth $46,599,000 after purchasing an additional 346,900 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

Macerich Co (NYSE MAC) traded up $0.98 during trading on Monday, reaching $65.20. The company’s stock had a trading volume of 1,361,019 shares, compared to its average volume of 1,470,096. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.25. Macerich Co has a 1-year low of $52.12 and a 1-year high of $73.34. The stock has a market cap of $9,040.43, a price-to-earnings ratio of 16.14, a PEG ratio of 2.97 and a beta of 0.88.

Macerich (NYSE:MAC) last announced its earnings results on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.86). Macerich had a net margin of 14.92% and a return on equity of 3.56%. The business had revenue of $242.50 million for the quarter, compared to analysts’ expectations of $226.00 million. During the same quarter last year, the business earned $1.04 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. sell-side analysts forecast that Macerich Co will post 3.95 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were paid a $0.74 dividend. This is an increase from Macerich’s previous quarterly dividend of $0.71. This represents a $2.96 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Thursday, November 9th. Macerich’s dividend payout ratio is currently 281.91%.

A number of equities analysts have commented on MAC shares. Zacks Investment Research upgraded shares of Macerich from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub upgraded shares of Macerich from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Citigroup cut their price objective on shares of Macerich from $66.00 to $61.00 and set a “neutral” rating on the stock in a report on Monday, August 14th. Boenning Scattergood upgraded shares of Macerich from a “neutral” rating to an “outperform” rating in a report on Wednesday, August 23rd. Finally, KeyCorp restated a “buy” rating and set a $75.00 price objective on shares of Macerich in a report on Monday, August 28th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $66.80.

COPYRIGHT VIOLATION WARNING: “Crossmark Global Holdings Inc. Invests $538,000 in Macerich Co (MAC)” was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this story on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright law. The legal version of this story can be read at https://www.dispatchtribunal.com/2017/12/04/crossmark-global-holdings-inc-acquires-new-position-in-macerich-company-the-mac.html.

About Macerich

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.

Institutional Ownership by Quarter for Macerich (NYSE:MAC)

Receive News & Ratings for Macerich Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich Co and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply