Forsta AP Fonden cut its holdings in Macerich Co (NYSE:MAC) by 5.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,550 shares of the real estate investment trust’s stock after selling 1,800 shares during the quarter. Forsta AP Fonden’s holdings in Macerich were worth $1,793,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Eii Capital Management Inc. lifted its stake in Macerich by 2.0% in the second quarter. Eii Capital Management Inc. now owns 50,313 shares of the real estate investment trust’s stock valued at $2,859,000 after buying an additional 976 shares during the period. PNC Financial Services Group Inc. lifted its stake in Macerich by 15.6% in the first quarter. PNC Financial Services Group Inc. now owns 7,761 shares of the real estate investment trust’s stock valued at $435,000 after buying an additional 1,049 shares during the period. SG Americas Securities LLC lifted its stake in Macerich by 4.9% in the second quarter. SG Americas Securities LLC now owns 23,012 shares of the real estate investment trust’s stock valued at $1,308,000 after buying an additional 1,081 shares during the period. Glen Harbor Capital Management LLC lifted its stake in Macerich by 9.2% in the first quarter. Glen Harbor Capital Management LLC now owns 12,852 shares of the real estate investment trust’s stock valued at $720,000 after buying an additional 1,088 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Macerich by 17.9% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,268 shares of the real estate investment trust’s stock valued at $413,000 after buying an additional 1,104 shares during the period. 96.32% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on the company. BMO Capital Markets set a $66.00 target price on Macerich and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Morgan Stanley lowered their target price on Macerich from $62.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 14th. Barclays upped their target price on Macerich from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 31st. Zacks Investment Research raised Macerich from a “sell” rating to a “hold” rating in a research report on Monday, September 3rd. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $60.00 target price on shares of Macerich in a research report on Thursday, August 16th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $64.47.
NYSE MAC opened at $56.51 on Monday. The firm has a market capitalization of $8.03 billion, a P/E ratio of 14.71, a P/E/G ratio of 2.31 and a beta of 0.80. Macerich Co has a 12 month low of $52.45 and a 12 month high of $69.73. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.50.
Macerich (NYSE:MAC) last released its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.91). The company had revenue of $234.50 million during the quarter, compared to analysts’ expectations of $216.37 million. Macerich had a net margin of 2.52% and a return on equity of 1.58%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share. equities analysts expect that Macerich Co will post 3.91 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 7th. Investors of record on Friday, August 17th were given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date of this dividend was Thursday, August 16th. Macerich’s payout ratio is currently 75.32%.
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 52 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.
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