Marathon Partners Equity Management LLC grew its holdings in Macerich Co (NYSE:MAC) by 18.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 285,000 shares of the real estate investment trust’s stock after acquiring an additional 45,000 shares during the period. Macerich accounts for approximately 6.9% of Marathon Partners Equity Management LLC’s holdings, making the stock its 5th largest position. Marathon Partners Equity Management LLC owned about 0.20% of Macerich worth $15,666,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Macerich by 1.8% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 66,198 shares of the real estate investment trust’s stock worth $3,639,000 after buying an additional 1,194 shares during the period. AMP Capital Investors Ltd boosted its holdings in shares of Macerich by 41.2% during the 3rd quarter. AMP Capital Investors Ltd now owns 117,610 shares of the real estate investment trust’s stock worth $6,465,000 after buying an additional 34,300 shares during the period. Bluestein R H & Co. bought a new stake in shares of Macerich during the 3rd quarter worth $632,000. Tredje AP fonden boosted its holdings in shares of Macerich by 86.4% during the 3rd quarter. Tredje AP fonden now owns 8,070 shares of the real estate investment trust’s stock worth $444,000 after buying an additional 3,740 shares during the period. Finally, Sarasin & Partners LLP boosted its holdings in shares of Macerich by 5.5% during the 3rd quarter. Sarasin & Partners LLP now owns 113,754 shares of the real estate investment trust’s stock worth $6,253,000 after buying an additional 5,920 shares during the period. 97.79% of the stock is owned by institutional investors.
Several analysts recently issued reports on MAC shares. Boenning Scattergood set a $75.00 price objective on shares of Macerich and gave the stock a “buy” rating in a report on Wednesday, November 1st. KeyCorp reaffirmed a “buy” rating and set a $75.00 price objective on shares of Macerich in a report on Monday, August 28th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $66.00 price objective on shares of Macerich in a report on Thursday, November 2nd. J P Morgan Chase & Co raised shares of Macerich from a “neutral” rating to an “overweight” rating and set a $68.00 price objective for the company in a report on Tuesday, September 26th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $57.00 price objective on shares of Macerich in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $66.80.
Macerich Co (NYSE MAC) traded down $0.40 during trading hours on Thursday, reaching $64.84. 2,477,800 shares of the company traded hands, compared to its average volume of 1,474,140. The firm has a market cap of $9,184.02, a PE ratio of 16.39, a P/E/G ratio of 3.05 and a beta of 0.88. Macerich Co has a 1 year low of $52.12 and a 1 year high of $73.34. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.25.
Macerich (NYSE:MAC) last released its earnings results on Monday, October 30th. The real estate investment trust reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.86). The company had revenue of $242.50 million for the quarter, compared to analyst estimates of $226.00 million. Macerich had a net margin of 14.92% and a return on equity of 3.56%. Macerich’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.04 earnings per share. research analysts forecast that Macerich Co will post 3.95 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were paid a dividend of $0.74 per share. This is a boost from Macerich’s previous quarterly dividend of $0.71. This represents a $2.96 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend was Thursday, November 9th. Macerich’s dividend payout ratio is presently 281.91%.
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The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.
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