Valeo Financial Advisors LLC lifted its stake in Macerich Co (NYSE:MAC) by 12.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,716 shares of the real estate investment trust’s stock after purchasing an additional 1,414 shares during the period. Valeo Financial Advisors LLC’s holdings in Macerich were worth $835,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Macerich by 3.7% in the fourth quarter. BlackRock Inc. now owns 11,422,384 shares of the real estate investment trust’s stock valued at $750,223,000 after purchasing an additional 412,265 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Macerich by 5.2% in the third quarter. Bank of New York Mellon Corp now owns 2,899,041 shares of the real estate investment trust’s stock valued at $159,359,000 after purchasing an additional 143,975 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Macerich by 2.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,047,155 shares of the real estate investment trust’s stock valued at $112,533,000 after purchasing an additional 49,918 shares during the period. Third Point LLC acquired a new stake in shares of Macerich in the third quarter valued at about $94,878,000. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Macerich by 39.4% in the third quarter. Canada Pension Plan Investment Board now owns 1,252,483 shares of the real estate investment trust’s stock valued at $68,849,000 after purchasing an additional 353,900 shares during the period. Hedge funds and other institutional investors own 97.14% of the company’s stock.
Several brokerages recently commented on MAC. Wells Fargo & Co upgraded shares of Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 price objective for the company in a research note on Tuesday, December 19th. Mizuho set a $63.00 price objective on shares of Macerich and gave the company a “hold” rating in a research note on Friday, February 16th. Citigroup reduced their price objective on shares of Macerich from $66.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, February 9th. Boenning Scattergood restated a “buy” rating and set a $75.00 target price on shares of Macerich in a report on Wednesday, February 7th. Finally, Barclays dropped their target price on shares of Macerich from $62.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, January 30th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $67.26.
Macerich Co (MAC) opened at $58.89 on Wednesday. The firm has a market cap of $8,183.51, a PE ratio of 14.75, a price-to-earnings-growth ratio of 2.18 and a beta of 0.87. Macerich Co has a twelve month low of $52.12 and a twelve month high of $69.73. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.30.
Macerich (NYSE:MAC) last issued its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.11). The firm had revenue of $245.30 million for the quarter, compared to analysts’ expectations of $237.90 million. Macerich had a return on equity of 3.91% and a net margin of 14.71%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.17 earnings per share. equities research analysts anticipate that Macerich Co will post 3.96 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Wednesday, February 21st were issued a dividend of $0.74 per share. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.03%. Macerich’s dividend payout ratio (DPR) is presently 290.20%.
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Macerich Company Profile
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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