Rhumbline Advisers lessened its position in Macerich Co (NYSE:MAC) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 248,744 shares of the real estate investment trust’s stock after selling 12,159 shares during the quarter. Rhumbline Advisers’ holdings in Macerich were worth $13,753,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in shares of Macerich by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 165,478 shares of the real estate investment trust’s stock valued at $9,270,000 after buying an additional 2,959 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Macerich during the 2nd quarter valued at $489,000. Achmea Investment Management B.V. bought a new stake in shares of Macerich during the 2nd quarter valued at $525,000. BP PLC bought a new stake in shares of Macerich during the 2nd quarter valued at $1,023,000. Finally, Eii Capital Management Inc. boosted its holdings in shares of Macerich by 2.0% during the 2nd quarter. Eii Capital Management Inc. now owns 50,313 shares of the real estate investment trust’s stock valued at $2,859,000 after buying an additional 976 shares in the last quarter. Hedge funds and other institutional investors own 96.48% of the company’s stock.
In other Macerich news, insider Dana K. Anderson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $51.65, for a total value of $516,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.76% of the stock is currently owned by insiders.
Macerich (NYSE:MAC) last issued its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.32. Macerich had a return on equity of 3.29% and a net margin of 8.35%. The business had revenue of $242.20 million during the quarter, compared to analyst estimates of $220.02 million. During the same quarter in the previous year, the firm earned $0.12 EPS. Macerich’s revenue was down .1% on a year-over-year basis. Sell-side analysts forecast that Macerich Co will post 3.86 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Friday, November 9th will be given a $0.75 dividend. This is a positive change from Macerich’s previous quarterly dividend of $0.74. The ex-dividend date is Thursday, November 8th. This represents a $3.00 dividend on an annualized basis and a yield of 6.16%. Macerich’s payout ratio is 76.34%.
A number of brokerages have recently commented on MAC. ValuEngine cut shares of Macerich from a “sell” rating to a “strong sell” rating in a report on Friday, November 16th. BMO Capital Markets set a $64.00 price target on shares of Macerich and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Zacks Investment Research upgraded shares of Macerich from a “sell” rating to a “hold” rating in a research note on Monday, October 22nd. Scotiabank began coverage on shares of Macerich in a research note on Tuesday, October 16th. They issued a “sector perform” rating on the stock. Finally, Barclays reiterated a “hold” rating and issued a $54.00 price target on shares of Macerich in a research note on Sunday, October 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. Macerich presently has an average rating of “Hold” and a consensus price target of $63.97.
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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