Bamco Inc. NY raised its holdings in The Macerich Company (NYSE:MAC - Free Report) by 742.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,695,420 shares of the real estate investment trust's stock after buying an additional 1,494,145 shares during the period. Bamco Inc. NY owned about 0.75% of Macerich worth $30,924,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. grew its position in shares of Macerich by 152.2% during the third quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 933 shares during the last quarter. Quest Partners LLC purchased a new position in Macerich during the 2nd quarter worth $50,000. GAMMA Investing LLC increased its stake in Macerich by 40.9% in the third quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 933 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Macerich during the second quarter worth about $129,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Macerich by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust's stock valued at $150,000 after acquiring an additional 2,161 shares during the period. Institutional investors and hedge funds own 87.38% of the company's stock.
Macerich Trading Down 0.1 %
NYSE MAC traded down $0.02 during trading hours on Tuesday, hitting $20.85. 503,071 shares of the company's stock were exchanged, compared to its average volume of 1,844,791. The business's 50 day moving average is $18.85 and its 200-day moving average is $16.60. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The Macerich Company has a 12-month low of $11.94 and a 12-month high of $21.71. The firm has a market capitalization of $5.18 billion, a P/E ratio of 53.51, a price-to-earnings-growth ratio of 0.73 and a beta of 2.51.
Macerich (NYSE:MAC - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.90). Macerich had a return on equity of 3.15% and a net margin of 8.98%. The company had revenue of $220.20 million for the quarter, compared to analysts' expectations of $208.54 million. During the same period in the prior year, the business earned $0.44 EPS. The business's revenue for the quarter was up .9% on a year-over-year basis. As a group, analysts anticipate that The Macerich Company will post 1.58 EPS for the current fiscal year.
Macerich Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.68 annualized dividend and a yield of 3.26%. Macerich's dividend payout ratio is currently 174.36%.
Analyst Upgrades and Downgrades
MAC has been the topic of a number of analyst reports. StockNews.com lowered shares of Macerich from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. Evercore ISI raised their price objective on shares of Macerich from $15.00 to $16.00 and gave the company an "in-line" rating in a research report on Wednesday, August 28th. Compass Point boosted their target price on Macerich from $20.00 to $23.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Piper Sandler raised their price target on Macerich from $11.00 to $14.00 and gave the company an "underweight" rating in a report on Tuesday, September 3rd. Finally, The Goldman Sachs Group increased their price objective on Macerich from $13.00 to $14.60 and gave the stock a "sell" rating in a research report on Thursday, September 19th. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $16.40.
Check Out Our Latest Analysis on Macerich
Macerich Profile
(
Free Report)
Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich's portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.
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