Kemper Corp Master Retirement Trust cut its stake in shares of Macerich (NYSE:MAC) by 19.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,235 shares of the real estate investment trust’s stock after selling 1,975 shares during the quarter. Kemper Corp Master Retirement Trust’s holdings in Macerich were worth $541,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in MAC. Crossmark Global Holdings Inc. acquired a new position in shares of Macerich in the 3rd quarter valued at about $538,000. Global X MANAGEMENT CO LLC lifted its stake in shares of 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 purchasing an additional 1,220 shares during the period. Sei Investments Co. lifted its stake in shares of Macerich by 19.8% in the 3rd quarter. Sei Investments Co. now owns 64,624 shares of the real estate investment trust’s stock valued at $3,552,000 after purchasing an additional 10,666 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Macerich by 1.3% in the 3rd quarter. New York State Common Retirement Fund now owns 322,800 shares of the real estate investment trust’s stock valued at $17,744,000 after purchasing an additional 4,000 shares during the period. Finally, Toronto Dominion Bank lifted its stake in shares of Macerich by 3.5% in the 3rd quarter. Toronto Dominion Bank now owns 41,794 shares of the real estate investment trust’s stock valued at $2,298,000 after purchasing an additional 1,411 shares during the period. 97.14% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Macerich stock opened at $57.35 on Friday. Macerich has a one year low of $52.12 and a one year high of $69.73. The stock has a market capitalization of $8,246.89, a P/E ratio of 14.59, a PEG ratio of 2.20 and a beta of 0.87. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.88 and a quick ratio of 0.88.
Macerich (NYSE:MAC) last issued its earnings results on Monday, February 5th. The real estate investment trust reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.11). The firm had revenue of $245.30 million during the quarter, compared to the consensus estimate of $237.90 million. Macerich had a net margin of 14.71% and a return on equity of 3.91%. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.17 earnings per share. analysts expect that Macerich will post 3.96 EPS for the current fiscal year.
A number of research analysts have recently issued reports on MAC shares. Zacks Investment Research raised Macerich from a “sell” rating to a “hold” rating in a research note on Tuesday, March 20th. Deutsche Bank dropped their price objective on Macerich from $65.00 to $62.00 and set a “hold” rating on the stock in a research note on Friday, February 9th. Wells Fargo raised Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 price objective on the stock in a research note on Tuesday, December 19th. Evercore ISI downgraded Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 price objective on the stock. in a research note on Monday, December 11th. Finally, JPMorgan Chase downgraded Macerich from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $70.00 to $65.00 in a research note on Tuesday, March 27th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $64.83.
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Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 53 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.
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