Principal Financial Group Inc. lessened its stake in shares of The Macerich Company (NYSE:MAC - Free Report) by 4.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,018,275 shares of the real estate investment trust's stock after selling 46,063 shares during the period. Principal Financial Group Inc. owned 0.47% of Macerich worth $18,573,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Lodestone Wealth Management LLC increased its position in Macerich by 0.6% during the third quarter. Lodestone Wealth Management LLC now owns 154,082 shares of the real estate investment trust's stock worth $2,810,000 after acquiring an additional 859 shares during the period. GAMMA Investing LLC grew its position in Macerich by 40.9% during the third quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust's stock worth $59,000 after buying an additional 933 shares in the last quarter. Blue Trust Inc. increased its stake in Macerich by 152.2% during the third quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust's stock valued at $28,000 after acquiring an additional 933 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in Macerich by 10.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 11,500 shares of the real estate investment trust's stock valued at $178,000 after acquiring an additional 1,132 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in Macerich by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 60,391 shares of the real estate investment trust's stock valued at $932,000 after acquiring an additional 1,181 shares in the last quarter. Institutional investors own 87.38% of the company's stock.
Macerich Price Performance
Shares of Macerich stock traded up $0.04 during trading on Friday, reaching $19.27. The company's stock had a trading volume of 1,034,910 shares, compared to its average volume of 1,775,435. The stock has a 50-day moving average price of $18.02 and a two-hundred day moving average price of $16.17. The stock has a market capitalization of $4.35 billion, a P/E ratio of 49.41, a price-to-earnings-growth ratio of 0.65 and a beta of 2.50. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a one year low of $10.75 and a one year high of $20.40.
Macerich (NYSE:MAC - Get Free Report) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share (EPS) 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 analyst estimates of $208.54 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. Macerich's revenue for the quarter was up .9% on a year-over-year basis. As a group, sell-side analysts anticipate that The Macerich Company will post 1.6 EPS for the current fiscal year.
Macerich Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.53%. The ex-dividend date is Tuesday, November 12th. Macerich's dividend payout ratio is 174.36%.
Wall Street Analyst Weigh In
MAC has been the subject of a number of recent research reports. Piper Sandler upped their target price on Macerich from $11.00 to $14.00 and gave the company an "underweight" rating in a research note on Tuesday, September 3rd. Evercore ISI upped their target price on shares of Macerich from $15.00 to $16.00 and gave the company an "in-line" rating in a research note on Wednesday, August 28th. The Goldman Sachs Group lifted their price objective on Macerich from $13.00 to $14.60 and gave the company a "sell" rating in a report on Thursday, September 19th. StockNews.com cut Macerich from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. Finally, Bank of America boosted their price target on Macerich from $17.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, October 11th. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Macerich presently has an average rating of "Hold" and an average price target of $16.40.
Read Our Latest Research Report on MAC
About Macerich
(
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.
Read More
Before you consider Macerich, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Macerich wasn't on the list.
While Macerich currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
