Public Employees Retirement Association of Colorado increased its stake in shares of Macerich Co (NYSE:MAC) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,163 shares of the real estate investment trust’s stock after purchasing an additional 871 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Macerich were worth $1,587,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of MAC. Sentry Investment Management LLC grew its holdings in Macerich by 1.1% in the 2nd quarter. Sentry Investment Management LLC now owns 9,690 shares of the real estate investment trust’s stock valued at $563,000 after buying an additional 102 shares during the period. DnB Asset Management AS grew its holdings in Macerich by 7.7% in the 4th quarter. DnB Asset Management AS now owns 12,595 shares of the real estate investment trust’s stock valued at $827,000 after buying an additional 900 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Macerich by 1.8% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 66,198 shares of the real estate investment trust’s stock valued at $3,639,000 after buying an additional 1,194 shares during the period. Global X MANAGEMENT CO LLC grew its holdings in Macerich by 19.0% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 7,655 shares of the real estate investment trust’s stock valued at $421,000 after buying an additional 1,220 shares during the period. Finally, Xact Kapitalforvaltning AB grew its holdings in Macerich by 4.6% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 30,467 shares of the real estate investment trust’s stock valued at $1,675,000 after buying an additional 1,345 shares during the period. Hedge funds and other institutional investors own 98.27% of the company’s stock.
Several research firms have commented on MAC. Mizuho set a $63.00 price target on Macerich and gave the company a “hold” rating in a report on Friday. Deutsche Bank lowered their price target on Macerich from $65.00 to $62.00 and set a “hold” rating for the company in a report on Friday, February 9th. Citigroup lowered their price target on Macerich from $66.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Boenning Scattergood restated a “buy” rating and issued a $75.00 price target on shares of Macerich in a report on Wednesday, February 7th. Finally, Morgan Stanley restated a “hold” rating on shares of Macerich in a report on Tuesday, February 6th. Three research 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’s stock. Macerich has a consensus rating of “Hold” and a consensus target price of $67.26.
Macerich Co (NYSE MAC) opened at $60.66 on Friday. The firm has a market capitalization of $8,539.29, a PE ratio of 15.40, a PEG ratio of 2.91 and a beta of 0.83. Macerich Co has a 52 week low of $52.12 and a 52 week high of $69.73. 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 (NYSE:MAC) last released its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.11). The firm had revenue of $245.30 million during the quarter, compared to analyst estimates of $237.90 million. Macerich had a net margin of 14.71% and a return on equity of 3.91%. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.17 earnings per share. sell-side analysts anticipate that Macerich Co will post 3.97 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Wednesday, February 21st will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 4.88%. The ex-dividend date is Tuesday, February 20th. Macerich’s dividend payout ratio (DPR) is presently 290.20%.
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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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