Great West Life Assurance Co. Can lowered its stake in Macerich Co (NYSE:MAC) by 3.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 148,679 shares of the real estate investment trust’s stock after selling 5,676 shares during the period. Great West Life Assurance Co. Can owned 0.11% of Macerich worth $8,208,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amica Pension Fund Board of Trustees acquired a new position in shares of Macerich in the 3rd quarter valued at about $229,000. Amica Mutual Insurance Co. acquired a new position in shares of Macerich in the 3rd quarter valued at about $310,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Macerich by 25.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,324 shares of the real estate investment trust’s stock valued at $2,436,000 after buying an additional 9,062 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Macerich by 29.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 839,463 shares of the real estate investment trust’s stock valued at $46,146,000 after buying an additional 189,938 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Macerich by 5.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,899,041 shares of the real estate investment trust’s stock valued at $159,359,000 after buying an additional 143,975 shares during the period. 97.79% of the stock is owned by institutional investors.
Several research analysts have recently commented on the stock. Mizuho reaffirmed a “hold” rating and issued a $60.00 price target on shares of Macerich in a report on Friday, November 10th. BidaskClub raised shares of Macerich from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Citigroup reduced their target price on shares of Macerich from $66.00 to $61.00 and set a “neutral” rating for the company in a research note on Monday, August 14th. BMO Capital Markets set a $55.00 target price on shares of Macerich and gave the company a “hold” rating in a research note on Monday, October 30th. Finally, KeyCorp reissued a “buy” rating and set a $75.00 target price on shares of Macerich in a research note on Thursday, September 28th. One 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 company currently has an average rating of “Hold” and an average price target of $66.80.
Macerich Co (NYSE MAC) traded down $0.40 during trading on Thursday, reaching $64.84. 2,477,800 shares of the company’s stock were exchanged, compared to its average volume of 1,474,140. Macerich Co has a 52-week low of $52.12 and a 52-week high of $73.34. The firm has a market cap of $9,184.02, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 3.05 and a beta of 0.88. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.85 and a quick ratio of 0.85.
Macerich (NYSE:MAC) last released its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.86). Macerich had a return on equity of 3.56% and a net margin of 14.92%. The company had revenue of $242.50 million for the quarter, compared to the consensus estimate of $226.00 million. During the same quarter last year, the firm posted $1.04 earnings per share. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. research analysts anticipate that Macerich Co will post 3.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 10th were given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.57%. This is an increase from Macerich’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Thursday, November 9th. Macerich’s payout ratio is 281.91%.
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Macerich Company Profile
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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