Assenagon Asset Management S.A. increased its position in shares of Macerich Company (The) (NYSE:MAC) by 8.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,639 shares of the real estate investment trust’s stock after buying an additional 1,389 shares during the period. Assenagon Asset Management S.A.’s holdings in Macerich Company (The) were worth $1,082,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pacer Advisors Inc. raised its stake in Macerich Company (The) by 3.1% in the first quarter. Pacer Advisors Inc. now owns 2,571 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 77 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Macerich Company (The) during the first quarter worth approximately $167,000. BB&T Securities LLC acquired a new stake in Macerich Company (The) during the first quarter worth approximately $234,000. Sawtooth Solutions LLC acquired a new stake in Macerich Company (The) during the first quarter worth approximately $244,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Macerich Company (The) during the fourth quarter worth approximately $277,000. Institutional investors and hedge funds own 95.90% of the company’s stock.
Macerich Company (NYSE MAC) opened at 57.44 on Tuesday. The company has a market cap of $8.12 billion, a PE ratio of 56.48 and a beta of 0.77. The stock’s 50 day moving average price is $58.34 and its 200-day moving average price is $61.88. Macerich Company has a 1-year low of $54.98 and a 1-year high of $84.60.
Macerich Company (The) (NYSE:MAC) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.04. Macerich Company (The) had a net margin of 14.39% and a return on equity of 3.38%. The business had revenue of $247.20 million for the quarter, compared to the consensus estimate of $218.62 million. During the same quarter last year, the firm posted $1.02 EPS. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, analysts forecast that Macerich Company will post $1.04 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Friday, August 18th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend is Wednesday, August 16th. Macerich Company (The)’s dividend payout ratio is presently 278.43%.
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Several analysts recently commented on the company. Barclays PLC cut their price objective on Macerich Company (The) from $66.00 to $63.00 and set an “equal weight” rating for the company in a report on Wednesday, April 19th. BidaskClub raised Macerich Company (The) from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. ValuEngine lowered Macerich Company (The) from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Boenning Scattergood reissued a “hold” rating on shares of Macerich Company (The) in a report on Friday, August 4th. Finally, Mizuho downgraded Macerich Company (The) from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $84.00 to $63.00 in a research report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. Macerich Company (The) currently has an average rating of “Hold” and a consensus target price of $69.79.
In other news, CEO Arthur M. Coppola sold 100,000 shares of the firm’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $58.13, for a total value of $5,813,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.75% of the company’s stock.
About Macerich Company (The)
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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