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.
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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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