Geode Capital Management LLC Purchases 34,982 Shares of The Macerich Company (NYSE:MAC)

Geode Capital Management LLC increased its holdings in shares of The Macerich Company (NYSE:MAC - Free Report) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,426,909 shares of the real estate investment trust's stock after acquiring an additional 34,982 shares during the period. Geode Capital Management LLC owned approximately 2.41% of Macerich worth $99,004,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MAC. FMR LLC boosted its position in shares of Macerich by 12,475.9% in the 3rd quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust's stock worth $214,738,000 after purchasing an additional 11,679,276 shares in the last quarter. Bamco Inc. NY raised its stake in Macerich by 742.3% during the third quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust's stock valued at $30,924,000 after buying an additional 1,494,145 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Macerich by 399.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,373 shares of the real estate investment trust's stock worth $28,206,000 after acquiring an additional 1,236,983 shares in the last quarter. Smead Capital Management Inc. grew its stake in shares of Macerich by 3.5% in the third quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust's stock worth $372,706,000 after acquiring an additional 688,790 shares during the last quarter. Finally, Sei Investments Co. bought a new position in shares of Macerich during the second quarter valued at $10,625,000. Hedge funds and other institutional investors own 87.38% of the company's stock.

Macerich Stock Performance

NYSE:MAC traded down $0.11 on Thursday, hitting $19.92. The stock had a trading volume of 2,581,034 shares, compared to its average volume of 1,880,043. The business's 50-day simple moving average is $19.76 and its two-hundred day simple moving average is $17.14. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 51.08, a price-to-earnings-growth ratio of 0.74 and a beta of 2.51. The Macerich Company has a 52-week low of $12.99 and a 52-week high of $22.27. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich (NYSE:MAC - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $220.20 million during the quarter, compared to analysts' expectations of $208.54 million. During the same period in the previous year, the business posted $0.44 EPS. The business's quarterly revenue was up .9% compared to the same quarter last year. As a group, research analysts predict that The Macerich Company will post 1.56 earnings per share for the current year.

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Tuesday, November 12th. Macerich's payout ratio is 174.36%.

Wall Street Analyst Weigh In

Several brokerages recently commented on MAC. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Macerich in a research report on Tuesday. They set a "hold" rating and a $22.00 price objective on the stock. Scotiabank raised shares of Macerich from a "sector underperform" rating to a "sector perform" rating and set a $22.00 price target for the company in a research report on Tuesday. Bank of America upped their price objective on Macerich from $17.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday, October 11th. Mizuho raised Macerich from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $14.00 to $22.00 in a report on Wednesday, December 4th. Finally, Compass Point upped their price target on Macerich from $20.00 to $23.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $18.86.

Macerich Company Profile

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.