Capital Fund Management S.A. trimmed its holdings in Macerich Co (NYSE:MAC) by 58.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,162 shares of the real estate investment trust’s stock after selling 8,626 shares during the quarter. Capital Fund Management S.A.’s holdings in Macerich were worth $341,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of MAC. Commonwealth Bank of Australia lifted its holdings in Macerich by 737.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,800 shares of the real estate investment trust’s stock valued at $100,000 after acquiring an additional 1,585 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Macerich by 9,246.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,617 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 2,589 shares during the period. Engineers Gate Manager LP acquired a new stake in Macerich during the 3rd quarter worth about $205,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Macerich during the 2nd quarter worth about $207,000. Finally, ING Groep NV acquired a new stake in Macerich during the 2nd quarter worth about $219,000. 96.68% of the stock is owned by institutional investors.
Several analysts have issued reports on the company. ValuEngine upgraded Macerich from a “strong sell” rating to a “sell” rating in a report on Wednesday. Morgan Stanley cut their price objective on Macerich to $58.00 and set an “underweight” rating on the stock in a report on Sunday. BTIG Research cut their price objective on Macerich to $63.00 and set a “buy” rating on the stock in a report on Monday, November 26th. Zacks Investment Research downgraded Macerich from a “hold” rating to a “sell” rating in a report on Tuesday, August 21st. Finally, BMO Capital Markets set a $64.00 price objective on Macerich and gave the stock a “buy” rating in a report on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $63.78.
In other news, insider Dana K. Anderson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $51.65, for a total value of $516,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.76% of the stock is owned by corporate insiders.
Shares of MAC opened at $49.57 on Thursday. The stock has a market capitalization of $6.99 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 2.13 and a beta of 0.83. Macerich Co has a fifty-two week low of $48.16 and a fifty-two week high of $69.73. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.96 and a current ratio of 0.96.
Macerich (NYSE:MAC) last issued its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.32. The company had revenue of $242.20 million for the quarter, compared to the consensus estimate of $220.02 million. Macerich had a return on equity of 3.29% and a net margin of 8.35%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. On average, sell-side analysts expect that Macerich Co will post 3.85 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Friday, November 9th were issued a $0.75 dividend. This is an increase from Macerich’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 6.05%. Macerich’s dividend payout ratio is currently 76.34%.
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Macerich Company Profile
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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