Passport Capital LLC purchased a new position in shares of Macerich Co (NYSE:MAC) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 100,000 shares of the real estate investment trust’s stock, valued at approximately $6,568,000. Macerich makes up 22.4% of Passport Capital LLC’s investment portfolio, making the stock its 2nd largest position. Passport Capital LLC owned 0.07% of Macerich as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of MAC. APG Asset Management N.V. raised its stake in shares of Macerich by 26.6% during the 3rd quarter. APG Asset Management N.V. now owns 61,878 shares of the real estate investment trust’s stock worth $3,401,000 after purchasing an additional 13,000 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Macerich in the 3rd quarter valued at approximately $538,000. Andra AP fonden raised its stake in shares of Macerich by 24.2% in the 3rd quarter. Andra AP fonden now owns 34,400 shares of the real estate investment trust’s stock valued at $1,891,000 after acquiring an additional 6,700 shares in the last quarter. Global X MANAGEMENT CO LLC raised its stake in shares of Macerich by 19.0% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 7,655 shares of the real estate investment trust’s stock valued at $421,000 after acquiring an additional 1,220 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Macerich by 19.8% in the 3rd quarter. Sei Investments Co. now owns 64,624 shares of the real estate investment trust’s stock valued at $3,552,000 after acquiring an additional 10,666 shares in the last quarter. 97.14% of the stock is owned by institutional investors.
MAC has been the topic of a number of recent analyst reports. BTIG Research cut their price objective on Macerich to $66.00 and set a “buy” rating on the stock in a research note on Wednesday. Boenning Scattergood reissued a “buy” rating and issued a $75.00 price objective on shares of Macerich in a research note on Wednesday, February 7th. Barclays cut their price objective on Macerich from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 30th. Morgan Stanley reissued a “hold” rating on shares of Macerich in a research note on Tuesday, February 6th. Finally, BMO Capital Markets set a $62.00 price objective on Macerich and gave the company a “hold” rating in a research note on Monday, February 5th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $66.32.
Macerich Co (MAC) traded up $0.71 on Wednesday, reaching $59.60. The company’s stock had a trading volume of 1,890,800 shares, compared to its average volume of 1,845,356. Macerich Co has a 12-month low of $52.12 and a 12-month high of $69.73. The firm has a market cap of $8,183.51, a price-to-earnings ratio of 57.97, a P/E/G ratio of 2.18 and a beta of 0.87. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.88 and a quick ratio of 0.88.
Macerich (NYSE:MAC) last announced its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.11). Macerich had a return on equity of 3.91% and a net margin of 14.71%. The firm had revenue of $245.30 million for the quarter, compared to analyst estimates of $237.90 million. During the same period in the previous year, the business posted $1.17 EPS. Macerich’s revenue for the quarter was down 6.2% compared to the same quarter last year. equities research analysts expect that Macerich Co will post 3.96 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Wednesday, February 21st were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 4.97%. The ex-dividend date was Tuesday, February 20th. Macerich’s payout ratio is presently 290.20%.
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Macerich Company Profile
The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.
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