Barings LLC cut its stake in Macerich Co (NYSE:MAC) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 235,756 shares of the real estate investment trust’s stock after selling 5,120 shares during the quarter. Barings LLC owned approximately 0.17% of Macerich worth $15,484,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Miracle Mile Advisors LLC bought a new position in shares of Macerich in the fourth quarter valued at about $250,000. Meeder Asset Management Inc. bought a new position in shares of Macerich in the third quarter valued at about $216,000. Cowen Prime Services LLC bought a new position in shares of Macerich in the fourth quarter valued at about $263,000. Amica Pension Fund Board of Trustees bought a new position in shares of Macerich in the third quarter valued at about $229,000. Finally, Contravisory Investment Management Inc. bought a new position in shares of Macerich in the fourth quarter valued at about $312,000. 98.27% of the stock is currently owned by institutional investors.
Macerich Co (NYSE:MAC) opened at $60.83 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.30. Macerich Co has a 1-year low of $52.12 and a 1-year high of $69.73. The company has a market cap of $8,600.00, a PE ratio of 59.64, a price-to-earnings-growth ratio of 2.88 and a beta of 0.83.
Macerich (NYSE:MAC) last released its earnings results on Monday, February 5th. The real estate investment trust reported $1.03 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.11). Macerich had a net margin of 14.71% and a return on equity of 3.91%. The firm had revenue of $245.30 million during the quarter, compared to the consensus estimate of $237.90 million. During the same period in the prior year, the business earned $1.17 earnings per share. Macerich’s quarterly revenue was down 6.2% compared to the same quarter last year. equities research analysts predict that Macerich Co will post 3.99 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Wednesday, February 21st will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 4.87%. The ex-dividend date is Tuesday, February 20th. Macerich’s dividend payout ratio is currently 290.20%.
MAC has been the topic of several research analyst reports. Wells Fargo & Co raised shares of Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 price objective on the stock in a research report on Tuesday, December 19th. Evercore ISI lowered shares of Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 price objective on the stock. in a research report on Monday, December 11th. Boenning Scattergood set a $75.00 price objective on shares of Macerich and gave the company a “buy” rating in a research report on Wednesday, November 1st. Zacks Investment Research lowered shares of Macerich from a “hold” rating to a “sell” rating in a research report on Monday, January 15th. Finally, Mizuho reaffirmed a “hold” rating and set a $60.00 price target on shares of Macerich in a research report on Friday, November 10th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average 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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