US Bancorp DE reduced its position in shares of Macerich Co (NYSE:MAC) by 11.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,744 shares of the real estate investment trust’s stock after selling 912 shares during the quarter. US Bancorp DE’s holdings in Macerich were worth $378,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC lifted its stake in Macerich by 1,114.3% in the 4th quarter. SG Americas Securities LLC now owns 27,043 shares of the real estate investment trust’s stock valued at $1,776,000 after buying an additional 24,816 shares in the last quarter. Aperio Group LLC raised its holdings in Macerich by 37.1% in the 4th quarter. Aperio Group LLC now owns 54,639 shares of the real estate investment trust’s stock valued at $3,589,000 after acquiring an additional 14,784 shares during the last quarter. Public Employees Retirement Association of Colorado raised its holdings in Macerich by 3.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 24,163 shares of the real estate investment trust’s stock valued at $1,587,000 after acquiring an additional 871 shares during the last quarter. American Century Companies Inc. acquired a new stake in Macerich in the 4th quarter valued at about $15,367,000. Finally, Crossmark Global Holdings Inc. raised its holdings in Macerich by 13.6% in the 4th quarter. Crossmark Global Holdings Inc. now owns 11,118 shares of the real estate investment trust’s stock valued at $730,000 after acquiring an additional 1,328 shares during the last quarter. 95.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:MAC opened at $57.75 on Friday. Macerich Co has a 12 month low of $52.12 and a 12 month high of $69.73. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.44. The firm has a market cap of $8.06 billion, a P/E ratio of 14.69, a P/E/G ratio of 2.15 and a beta of 0.86.
Macerich (NYSE:MAC) last announced its quarterly earnings results on Wednesday, May 2nd. The real estate investment trust reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($1.05). The company had revenue of $212.38 million for the quarter, compared to analyst estimates of $216.47 million. Macerich had a return on equity of 1.48% and a net margin of 4.40%. Macerich’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.87 earnings per share. equities analysts expect that Macerich Co will post 3.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Tuesday, May 8th were paid a $0.74 dividend. The ex-dividend date was Monday, May 7th. This represents a $2.96 dividend on an annualized basis and a yield of 5.13%. Macerich’s dividend payout ratio is presently 75.32%.
A number of brokerages have recently issued reports on MAC. Boenning Scattergood restated a “buy” rating and set a $75.00 price target on shares of Macerich in a report on Friday, April 20th. Mizuho upgraded shares of Macerich from a “neutral” rating to a “buy” rating in a report on Friday, April 20th. BTIG Research dropped their target price on shares of Macerich to $66.00 and set a “buy” rating for the company in a report on Wednesday, March 14th. Barclays lifted their target price on shares of Macerich from $56.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, May 31st. Finally, Morgan Stanley dropped their target price on shares of Macerich from $62.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, June 14th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $64.47.
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 53 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.
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