Public Employees Retirement Association of Colorado boosted its position in shares of Macerich Co (NYSE:MAC) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,163 shares of the real estate investment trust’s stock after purchasing an additional 871 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Macerich were worth $1,587,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Bank of New York Mellon Corp raised its stake in Macerich by 5.2% during the third quarter. Bank of New York Mellon Corp now owns 2,899,041 shares of the real estate investment trust’s stock worth $159,359,000 after purchasing an additional 143,975 shares during the period. Dimensional Fund Advisors LP raised its stake in Macerich by 2.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,047,155 shares of the real estate investment trust’s stock worth $112,533,000 after purchasing an additional 49,918 shares during the period. Third Point LLC purchased a new position in Macerich during the third quarter worth about $94,878,000. Canada Pension Plan Investment Board raised its stake in Macerich by 39.4% during the third quarter. Canada Pension Plan Investment Board now owns 1,252,483 shares of the real estate investment trust’s stock worth $68,849,000 after purchasing an additional 353,900 shares during the period. Finally, Legal & General Group Plc raised its stake in Macerich by 6.3% during the third quarter. Legal & General Group Plc now owns 1,224,305 shares of the real estate investment trust’s stock worth $67,301,000 after purchasing an additional 72,046 shares during the period. 97.26% of the stock is currently owned by institutional investors.
Shares of Macerich Co (NYSE MAC) traded up $0.51 during mid-day trading on Friday, hitting $59.36. 1,210,000 shares of the company were exchanged, compared to its average volume of 1,940,737. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $8,356.29, a PE ratio of 58.20, a P/E/G ratio of 2.22 and a beta of 0.83. Macerich Co has a 52-week low of $52.12 and a 52-week high of $69.73.
Macerich (NYSE:MAC) last announced its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.11). The business 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 company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 EPS. equities analysts forecast that Macerich Co will post 3.97 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Wednesday, February 21st will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date is Tuesday, February 20th. Macerich’s dividend payout ratio (DPR) is currently 290.20%.
A number of equities analysts have commented on the stock. Wells Fargo & Co raised shares of Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 target price on the stock in a research note on Tuesday, December 19th. BMO Capital Markets set a $55.00 price target on shares of Macerich and gave the company a “hold” rating in a research report on Monday, October 30th. Mizuho set a $63.00 price target on shares of Macerich and gave the company a “hold” rating in a research report on Friday, February 16th. Citigroup dropped their price target on shares of Macerich from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, February 9th. Finally, Boenning Scattergood reiterated a “buy” rating and set a $75.00 price target on shares of Macerich in a research report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $67.26.
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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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