Nordea Investment Management AB Sells 28,643 Shares of Macerich Company (The) $MAC

Nordea Investment Management AB trimmed its holdings in shares of Macerich Company (The) (NYSE:MAC) by 9.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 274,857 shares of the real estate investment trust’s stock after selling 28,643 shares during the quarter. Nordea Investment Management AB’s holdings in Macerich were worth $5,060,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Triumph Capital Management bought a new position in Macerich in the third quarter valued at approximately $33,000. Danske Bank A S acquired a new position in shares of Macerich in the third quarter valued at approximately $56,000. GAMMA Investing LLC increased its position in shares of Macerich by 14.8% during the third quarter. GAMMA Investing LLC now owns 5,371 shares of the real estate investment trust’s stock worth $98,000 after acquiring an additional 691 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Macerich by 16.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,205 shares of the real estate investment trust’s stock worth $100,000 after acquiring an additional 858 shares in the last quarter. Finally, Archer Investment Corp raised its holdings in shares of Macerich by 25.9% during the third quarter. Archer Investment Corp now owns 7,179 shares of the real estate investment trust’s stock worth $131,000 after acquiring an additional 1,479 shares during the period. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. KeyCorp set a $25.00 price objective on shares of Macerich and gave the company an “overweight” rating in a research report on Monday, February 23rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Macerich in a research note on Thursday, January 22nd. JPMorgan Chase & Co. boosted their price target on Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Tuesday, March 10th. The Goldman Sachs Group upped their price objective on Macerich from $15.00 to $17.00 and gave the stock a “sell” rating in a research report on Monday, March 2nd. Finally, Mizuho set a $21.00 price objective on Macerich in a report on Friday, January 9th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Macerich has an average rating of “Hold” and a consensus target price of $20.46.

Macerich Stock Performance

Shares of MAC stock opened at $19.07 on Friday. Macerich Company has a 12 month low of $12.48 and a 12 month high of $20.93. The company’s fifty day simple moving average is $19.07 and its 200-day simple moving average is $18.21. The firm has a market cap of $4.89 billion, a PE ratio of -24.76, a P/E/G ratio of 1.29 and a beta of 2.17. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.01.

Macerich (NYSE:MAC) last released its earnings results on Wednesday, February 18th. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.50). Macerich had a negative net margin of 19.44% and a negative return on equity of 7.32%. The business had revenue of $261.70 million during the quarter, compared to the consensus estimate of $260.48 million. During the same period last year, the business posted $0.47 EPS. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. Equities research analysts expect that Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be issued a $0.17 dividend. The ex-dividend date is Monday, March 16th. This represents a $0.68 annualized dividend and a dividend yield of 3.6%. Macerich’s dividend payout ratio (DPR) is presently -88.31%.

Macerich Company Profile

The Macerich Company (NYSE: MAC) is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich’s core activities encompass property and asset management, leasing, marketing and redevelopment services.