PGGM Investments decreased its holdings in shares of Macerich Co (NYSE:MAC) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,234,000 shares of the real estate investment trust’s stock after selling 61,000 shares during the period. PGGM Investments owned approximately 0.88% of Macerich worth $81,049,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of the company. Meeder Asset Management Inc. purchased a new stake in Macerich during the third quarter valued at about $216,000. Sun Life Financial INC lifted its stake in Macerich by 1,864.0% during the second quarter. Sun Life Financial INC now owns 3,928 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 3,728 shares in the last quarter. Amica Pension Fund Board of Trustees purchased a new stake in Macerich during the third quarter valued at about $229,000. Koch Industries Inc. purchased a new stake in Macerich during the second quarter valued at about $289,000. Finally, Amica Mutual Insurance Co. purchased a new stake in Macerich during the third quarter valued at about $310,000. Institutional investors own 98.27% of the company’s stock.
Shares of Macerich Co (NYSE:MAC) opened at $60.80 on Tuesday. The stock has a market cap of $8,504.09, a price-to-earnings ratio of 15.33, a PEG ratio of 2.88 and a beta of 0.83. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.88 and a quick ratio of 0.85. Macerich Co has a 52 week low of $52.12 and a 52 week high of $69.73.
Macerich (NYSE:MAC) last posted its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.14 by ($0.11). Macerich had a return on equity of 3.91% and a net margin of 14.71%. The business had revenue of $245.30 million for the quarter, compared to analyst estimates of $237.90 million. During the same quarter in the prior year, the firm earned $1.17 EPS. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. research analysts expect that Macerich Co will post 3.99 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Wednesday, February 21st will be paid a dividend of $0.74 per share. The ex-dividend date is Tuesday, February 20th. This represents a $2.96 dividend on an annualized basis and a yield of 4.87%. Macerich’s dividend payout ratio is currently 290.20%.
A number of analysts have commented on the stock. Morgan Stanley reaffirmed a “hold” rating on shares of Macerich in a research note on Tuesday, February 6th. Sandler O’Neill reissued a “hold” rating and issued a $71.00 price target on shares of Macerich in a research report on Tuesday, January 23rd. Mizuho reissued a “hold” rating and issued a $60.00 price target on shares of Macerich in a research report on Friday, November 10th. Barclays cut their price objective on shares of Macerich from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 30th. Finally, BMO Capital Markets set a $55.00 price objective on shares of Macerich and gave the company a “hold” rating in a research report on Monday, October 30th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. Macerich currently has an average rating of “Hold” and a consensus price target of $67.09.
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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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