Thrivent Financial for Lutherans boosted its position in shares of Macerich Co (NYSE:MAC) by 41.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 73,181 shares of the real estate investment trust’s stock after purchasing an additional 21,340 shares during the period. Thrivent Financial for Lutherans owned 0.05% of Macerich worth $4,100,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Land & Buildings Investment Management LLC purchased a new position in Macerich during the 4th quarter worth approximately $29,808,000. Price Michael F grew its position in Macerich by 100.0% during the 4th quarter. Price Michael F now owns 100,000 shares of the real estate investment trust’s stock worth $6,568,000 after purchasing an additional 50,000 shares in the last quarter. California Public Employees Retirement System grew its position in Macerich by 7.0% during the 4th quarter. California Public Employees Retirement System now owns 399,482 shares of the real estate investment trust’s stock worth $26,238,000 after purchasing an additional 26,103 shares in the last quarter. BlackRock Inc. grew its position in Macerich by 3.7% during the 4th quarter. BlackRock Inc. now owns 11,422,384 shares of the real estate investment trust’s stock worth $750,223,000 after purchasing an additional 412,265 shares in the last quarter. Finally, Aperio Group LLC grew its position in Macerich by 37.1% during the 4th quarter. Aperio Group LLC now owns 54,639 shares of the real estate investment trust’s stock worth $3,589,000 after purchasing an additional 14,784 shares in the last quarter. Hedge funds and other institutional investors own 95.20% of the company’s stock.
Shares of NYSE:MAC opened at $54.75 on Friday. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 2.06 and a beta of 0.85. Macerich Co has a 12-month low of $52.12 and a 12-month high of $69.73. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.98 and a quick ratio of 0.98.
Macerich (NYSE:MAC) last released 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 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 business had revenue of $212.38 million during the quarter, compared to analyst estimates of $216.47 million. During the same period in the previous year, the firm posted $0.87 EPS. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. equities analysts forecast that Macerich Co will post 3.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Tuesday, May 8th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend is Monday, May 7th. Macerich’s payout ratio is presently 75.32%.
Several research firms have weighed in on MAC. Morgan Stanley reiterated a “hold” rating on shares of Macerich in a research report on Tuesday, February 6th. Sandler O’Neill reiterated a “hold” rating and set a $63.00 price objective on shares of Macerich in a research report on Monday, March 19th. BTIG Research lowered their price objective on shares of Macerich to $66.00 and set a “buy” rating on the stock in a research report on Wednesday, March 14th. Boenning Scattergood reiterated a “buy” rating and set a $75.00 price objective on shares of Macerich in a research report on Friday, April 20th. Finally, ValuEngine cut shares of Macerich from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average 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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