IFM Investors Pty Ltd Boosts Holdings in Macerich Co (NYSE:MAC)

IFM Investors Pty Ltd lifted its stake in Macerich Co (NYSE:MAC) by 46.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,759 shares of the real estate investment trust’s stock after purchasing an additional 3,083 shares during the quarter. IFM Investors Pty Ltd’s holdings in Macerich were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of MAC. Nomura Asset Management Co. Ltd. increased its holdings in Macerich by 0.4% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 95,839 shares of the real estate investment trust’s stock worth $3,210,000 after buying an additional 339 shares in the last quarter. 6 Meridian increased its holdings in Macerich by 3.6% in the 2nd quarter. 6 Meridian now owns 10,827 shares of the real estate investment trust’s stock worth $363,000 after buying an additional 373 shares in the last quarter. LS Investment Advisors LLC increased its holdings in Macerich by 6.0% in the 2nd quarter. LS Investment Advisors LLC now owns 8,053 shares of the real estate investment trust’s stock worth $270,000 after buying an additional 454 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Macerich by 6.0% in the 2nd quarter. Allianz Asset Management GmbH now owns 8,268 shares of the real estate investment trust’s stock worth $277,000 after buying an additional 470 shares in the last quarter. Finally, Moody National Bank Trust Division increased its holdings in Macerich by 2.1% in the 3rd quarter. Moody National Bank Trust Division now owns 23,967 shares of the real estate investment trust’s stock worth $757,000 after buying an additional 491 shares in the last quarter.

In other news, Director Steve Hash purchased 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average cost of $29.37 per share, for a total transaction of $146,850.00. Following the purchase, the director now directly owns 16,884 shares in the company, valued at approximately $495,883.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.73% of the company’s stock.

Shares of Macerich stock traded down $0.44 during trading hours on Tuesday, reaching $27.39. 59,624 shares of the stock traded hands, compared to its average volume of 1,971,864. The company has a 50 day moving average price of $28.98 and a 200 day moving average price of $33.08. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 7.12, a P/E/G ratio of 4.31 and a beta of 0.73. Macerich Co has a one year low of $26.87 and a one year high of $51.95. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.77.

Macerich (NYSE:MAC) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.02). The firm had revenue of $214.30 million for the quarter, compared to the consensus estimate of $216.69 million. Macerich had a net margin of 8.76% and a return on equity of 2.69%. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Sell-side analysts anticipate that Macerich Co will post 3.56 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.75 per share. The ex-dividend date is Thursday, November 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 10.95%. Macerich’s dividend payout ratio is currently 77.92%.

Several research firms recently commented on MAC. Bank of America reduced their price objective on Macerich from $34.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Zacks Investment Research upgraded Macerich from a “sell” rating to a “hold” rating and set a $30.00 price objective for the company in a report on Monday, August 26th. TheStreet downgraded Macerich from a “c” rating to a “d+” rating in a report on Thursday, October 31st. ValuEngine upgraded Macerich from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley reduced their price objective on Macerich from $30.00 to $26.50 and set an “underweight” rating for the company in a report on Tuesday, September 3rd. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. Macerich presently has an average rating of “Hold” and a consensus price target of $39.19.

Macerich Company Profile

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 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.

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Institutional Ownership by Quarter for Macerich (NYSE:MAC)

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