Eii Capital Management Inc. trimmed its holdings in Macerich Co (NYSE:MAC) by 29.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,559 shares of the real estate investment trust’s stock after selling 15,155 shares during the period. Eii Capital Management Inc.’s holdings in Macerich were worth $2,401,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Delpha Capital Management LLC bought a new stake in shares of Macerich during the 4th quarter worth $156,000. Tower Research Capital LLC TRC boosted its holdings in shares of Macerich by 870.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the real estate investment trust’s stock worth $214,000 after buying an additional 2,924 shares during the period. Amica Pension Fund Board of Trustees bought a new stake in shares of Macerich during the 3rd quarter worth $229,000. Miracle Mile Advisors LLC bought a new stake in shares of Macerich during the 4th quarter worth $250,000. Finally, Virtu Financial LLC bought a new stake in shares of Macerich during the 4th quarter worth $254,000. 97.14% of the stock is owned by institutional investors.
Shares of Macerich stock opened at $58.93 on Monday. The company has a quick ratio of 0.88, 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 firm has a market cap of $8,300.41, a price-to-earnings ratio of 57.78, a price-to-earnings-growth ratio of 2.21 and a beta of 0.87.
Macerich (NYSE:MAC) last issued its quarterly earnings results 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). Macerich had a net margin of 14.71% and a return on equity of 3.91%. The company had revenue of $245.30 million during the quarter, compared to the consensus estimate of $237.90 million. During the same period last year, the company earned $1.17 earnings per share. Macerich’s revenue for the quarter was down 6.2% on a year-over-year basis. equities research analysts predict that Macerich Co will post 3.96 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Wednesday, February 21st were issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date was Tuesday, February 20th. Macerich’s dividend payout ratio (DPR) is presently 290.20%.
MAC has been the subject of several recent analyst reports. Deutsche Bank decreased their price objective on shares of Macerich from $65.00 to $62.00 and set a “hold” rating for the company in a report on Friday, February 9th. Wells Fargo raised shares of Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 price objective for the company in a report on Tuesday, December 19th. Evercore ISI downgraded shares of Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 price objective for the company. in a report on Monday, December 11th. Zacks Investment Research downgraded shares of Macerich from a “hold” rating to a “sell” rating in a report on Monday, January 15th. Finally, Citigroup decreased their price objective on shares of Macerich from $66.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $66.37.
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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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