New Mexico Educational Retirement Board lessened its holdings in shares of Macerich Co (NYSE:MAC) by 7.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,000 shares of the real estate investment trust’s stock after selling 700 shares during the period. New Mexico Educational Retirement Board’s holdings in Macerich were worth $390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of MAC. Bank of New York Mellon Corp raised its position in shares of Macerich by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,298,084 shares of the real estate investment trust’s stock valued at $73,770,000 after buying an additional 43,760 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Macerich by 3.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 79,994 shares of the real estate investment trust’s stock valued at $4,421,000 after purchasing an additional 2,682 shares during the last quarter. Bank of Montreal Can grew its holdings in Macerich by 11.2% during the 3rd quarter. Bank of Montreal Can now owns 267,640 shares of the real estate investment trust’s stock valued at $14,798,000 after purchasing an additional 26,940 shares during the last quarter. First Hawaiian Bank bought a new position in Macerich during the 3rd quarter valued at about $580,000. Finally, Nisa Investment Advisors LLC grew its holdings in Macerich by 3.4% during 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. 98.53% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Daniel J. Hirsch purchased 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 18th. The shares were bought at an average price of $44.63 per share, for a total transaction of $200,835.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Arthur M. Coppola sold 105,574 shares of the firm’s stock in a transaction on Tuesday, December 11th. The shares were sold at an average price of $49.79, for a total transaction of $5,256,529.46. The disclosure for this sale can be found here. Company insiders own 3.76% of the company’s stock.
Several equities analysts recently commented on the stock. Barclays reiterated a “hold” rating and set a $54.00 price target on shares of Macerich in a report on Sunday, October 14th. Zacks Investment Research downgraded shares of Macerich from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. BMO Capital Markets reiterated a “buy” rating and set a $56.00 price objective on shares of Macerich in a research note on Thursday. Mizuho downgraded shares of Macerich from a “buy” rating to a “neutral” rating and set a $48.00 price objective on the stock. in a research note on Wednesday, January 23rd. Finally, Wells Fargo & Co downgraded shares of Macerich from an “outperform” rating to a “market perform” rating and set a $43.00 price objective on the stock. in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $58.93.
NYSE MAC opened at $43.24 on Monday. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 2.41 and a beta of 0.92. Macerich Co has a 12-month low of $40.90 and a 12-month high of $61.91. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.99 and a quick ratio of 0.96.
Macerich (NYSE:MAC) last posted its quarterly earnings results on Thursday, February 7th. The real estate investment trust reported $1.09 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.09. The business had revenue of $246.90 million during the quarter, compared to analysts’ expectations of $228.64 million. Macerich had a net margin of 6.25% and a return on equity of 2.41%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the company posted $1.03 earnings per share. As a group, equities analysts anticipate that Macerich Co will post 3.68 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 21st will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, February 20th. This represents a $3.00 annualized dividend and a dividend yield of 6.94%. Macerich’s dividend payout ratio (DPR) is presently 77.92%.
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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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