Aviva PLC lessened its holdings in Macerich Co (NYSE:MAC) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,701 shares of the real estate investment trust’s stock after selling 3,002 shares during the period. Aviva PLC’s holdings in Macerich were worth $3,633,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Macerich by 2.9% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 35,503 shares of the real estate investment trust’s stock valued at $1,963,000 after purchasing an additional 986 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Macerich by 4.9% in the 2nd quarter. SG Americas Securities LLC now owns 23,012 shares of the real estate investment trust’s stock valued at $1,308,000 after purchasing an additional 1,081 shares during the last quarter. ING Groep NV lifted its stake in shares of Macerich by 28.2% in the 3rd quarter. ING Groep NV now owns 4,953 shares of the real estate investment trust’s stock valued at $274,000 after purchasing an additional 1,091 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Macerich by 3.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 33,042 shares of the real estate investment trust’s stock valued at $1,827,000 after purchasing an additional 1,100 shares during the last quarter. Finally, US Bancorp DE lifted its position in Macerich by 17.5% during the 2nd quarter. US Bancorp DE now owns 7,926 shares of the real estate investment trust’s stock worth $450,000 after acquiring an additional 1,182 shares during the last quarter. 96.68% of the stock is owned by institutional investors and hedge funds.
In other news, insider Dana K. Anderson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $51.65, for a total transaction of $516,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.76% of the company’s stock.
NYSE:MAC opened at $50.64 on Monday. Macerich Co has a 52-week low of $48.16 and a 52-week high of $69.73. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.48. The stock has a market cap of $7.14 billion, a PE ratio of 12.89, a P/E/G ratio of 2.18 and a beta of 0.83.
Macerich (NYSE:MAC) last posted its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.32. Macerich had a net margin of 8.35% and a return on equity of 3.29%. The company had revenue of $242.20 million for the quarter, compared to the consensus estimate of $220.02 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The business’s revenue was down .1% compared to the same quarter last year. On average, research analysts expect that Macerich Co will post 3.85 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Friday, November 9th were issued a dividend of $0.75 per share. 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 annualized dividend and a dividend yield of 5.92%. Macerich’s payout ratio is presently 76.34%.
A number of research firms have weighed in on MAC. Zacks Investment Research raised shares of Macerich from a “sell” rating to a “hold” rating in a research report on Monday, September 3rd. Bank of America boosted their target price on shares of Macerich from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday, August 13th. SunTrust Banks reissued a “hold” rating and set a $60.00 target price on shares of Macerich in a research report on Thursday, August 16th. Evercore ISI raised shares of Macerich from an “in-line” rating to an “outperform” rating in a research report on Monday, September 17th. Finally, BMO Capital Markets reissued a “buy” rating and set a $64.00 target price on shares of Macerich in a research report on Tuesday, September 25th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $63.34.
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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 52 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.
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