AMP Capital Investors Ltd reduced its position in Macerich Co (NYSE:MAC) by 5.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 140,169 shares of the real estate investment trust’s stock after selling 8,774 shares during the period. AMP Capital Investors Ltd owned 0.10% of Macerich worth $7,965,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Commonwealth Bank of Australia lifted its holdings in shares of Macerich by 737.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,800 shares of the real estate investment trust’s stock valued at $100,000 after purchasing an additional 1,585 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Macerich by 9,246.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,617 shares of the real estate investment trust’s stock valued at $149,000 after purchasing an additional 2,589 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Macerich in the 2nd quarter valued at about $207,000. ING Groep NV purchased a new stake in Macerich during the 2nd quarter valued at approximately $219,000. Finally, Gideon Capital Advisors Inc. purchased a new stake in Macerich during the 2nd quarter valued at approximately $234,000. 96.34% of the stock is owned by institutional investors and hedge funds.
NYSE MAC traded down $0.06 on Friday, hitting $51.80. 667,745 shares of the company’s stock were exchanged, compared to its average volume of 1,287,138. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.50. Macerich Co has a fifty-two week low of $51.71 and a fifty-two week high of $69.73. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 2.23 and a beta of 0.82.
Macerich (NYSE:MAC) last released its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.91). Macerich had a return on equity of 1.58% and a net margin of 2.52%. The business had revenue of $234.50 million for the quarter, compared to analyst estimates of $216.37 million. During the same quarter in the previous year, the firm posted $0.19 EPS. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. Equities analysts forecast that Macerich Co will post 3.91 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Friday, August 17th were given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 5.71%. The ex-dividend date was Thursday, August 16th. Macerich’s payout ratio is 75.32%.
Several analysts have commented on the company. BMO Capital Markets set a $66.00 price objective on Macerich and gave the company a “buy” rating in a research note on Wednesday, August 1st. Zacks Investment Research raised Macerich from a “sell” rating to a “hold” rating in a research note on Monday, September 3rd. Bank of America upped their price objective on Macerich from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Monday, August 13th. Goldman Sachs Group raised Macerich from a “sell” rating to a “neutral” rating and upped their price objective for the company from $52.00 to $64.00 in a research note on Tuesday, July 17th. They noted that the move was a valuation call. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $60.00 price objective on shares of Macerich in a research note on Thursday, August 16th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $64.16.
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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