Robeco Institutional Asset Management B.V. increased its stake in Macerich (NYSE:MAC) by 3.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 112,325 shares of the real estate investment trust’s stock after acquiring an additional 4,000 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.08% of Macerich worth $6,291,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of Macerich by 3.7% during the fourth quarter. BlackRock Inc. now owns 11,422,384 shares of the real estate investment trust’s stock worth $750,223,000 after buying an additional 412,265 shares in the last quarter. Cbre Clarion Securities LLC grew its holdings in shares of Macerich by 1,523.7% during the fourth quarter. Cbre Clarion Securities LLC now owns 3,205,186 shares of the real estate investment trust’s stock worth $210,517,000 after buying an additional 3,007,786 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Macerich by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 1,428,879 shares of the real estate investment trust’s stock worth $93,684,000 after buying an additional 50,374 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Macerich by 63.3% during the first quarter. Prudential Financial Inc. now owns 1,291,402 shares of the real estate investment trust’s stock worth $72,344,000 after buying an additional 500,760 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Macerich by 4.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,215,149 shares of the real estate investment trust’s stock worth $79,811,000 after buying an additional 56,011 shares in the last quarter. 97.14% of the stock is owned by institutional investors.
Shares of MAC opened at $54.84 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.56. Macerich has a 12-month low of $52.12 and a 12-month high of $69.73. The stock has a market capitalization of $7.73 billion, a P/E ratio of 13.95, a PEG ratio of 2.06 and a beta of 0.85.
Macerich (NYSE:MAC) last announced its quarterly earnings data on Wednesday, May 2nd. The real estate investment trust reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($1.05). Macerich had a net margin of 4.40% and a return on equity of 1.48%. The firm had revenue of $212.38 million during the quarter, compared to analysts’ expectations of $216.47 million. During the same period in the prior year, the company posted $0.87 EPS. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. equities research analysts anticipate that Macerich will post 3.96 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Tuesday, May 8th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date is Monday, May 7th. Macerich’s dividend payout ratio is currently 75.32%.
A number of equities research analysts have recently issued reports on MAC shares. SunTrust Banks set a $57.00 target price on shares of Macerich and gave the stock a “hold” rating in a report on Tuesday, April 3rd. Sandler O’Neill reaffirmed a “hold” rating and set a $71.00 target price on shares of Macerich in a report on Tuesday, January 23rd. Mizuho raised shares of Macerich from a “neutral” rating to a “buy” rating in a report on Friday, April 20th. JPMorgan Chase lowered shares of Macerich from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $70.00 to $65.00 in a report on Tuesday, March 27th. Finally, Deutsche Bank dropped their target price on shares of Macerich from $65.00 to $62.00 and set a “hold” rating for the company in a report on Friday, February 9th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. Macerich has a consensus rating of “Hold” and a consensus target price of $65.10.
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 53 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.
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