Aviva PLC reduced its stake in Macerich Co (NYSE:MAC) by 22.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,202 shares of the real estate investment trust’s stock after selling 14,499 shares during the period. Aviva PLC’s holdings in Macerich were worth $2,216,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. Engineers Gate Manager LP bought a new position in shares of Macerich during the 3rd quarter worth about $205,000. Wells Fargo & Company MN boosted its position in shares of Macerich by 5.7% during the 3rd quarter. Wells Fargo & Company MN now owns 161,351 shares of the real estate investment trust’s stock worth $8,922,000 after purchasing an additional 8,715 shares in the last quarter. ING Groep NV boosted its position in shares of Macerich by 28.2% during the 3rd quarter. ING Groep NV now owns 4,953 shares of the real estate investment trust’s stock worth $274,000 after purchasing an additional 1,091 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Macerich by 47.4% during the 3rd quarter. SG Americas Securities LLC now owns 33,912 shares of the real estate investment trust’s stock worth $1,875,000 after purchasing an additional 10,900 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in shares of Macerich by 51.2% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 13,000 shares of the real estate investment trust’s stock worth $719,000 after purchasing an additional 4,400 shares in the last quarter. Institutional investors own 96.27% of the company’s stock.
NYSE:MAC opened at $43.38 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 7.54 and a beta of 0.88. Macerich Co has a 52 week low of $40.90 and a 52 week high of $60.95.
Macerich (NYSE:MAC) last posted its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported $1.09 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.09. The firm had revenue of $246.90 million during the quarter, compared to analyst estimates of $228.64 million. Macerich had a net margin of 6.25% and a return on equity of 2.41%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. Equities analysts forecast that Macerich Co will post 3.56 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 21st were paid a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, February 20th. This represents a $3.00 annualized dividend and a yield of 6.92%. Macerich’s dividend payout ratio (DPR) is 77.92%.
Several equities analysts recently weighed in on the stock. Wells Fargo & Co dropped their price target on shares of Macerich from $72.50 to $65.50 and set an “outperform” rating on the stock in a research report on Friday, December 7th. Morgan Stanley cut shares of Macerich from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $58.00 to $45.00 in a research report on Monday, November 26th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $46.00 price target on shares of Macerich in a research report on Wednesday, February 13th. BMO Capital Markets set a $56.00 price target on shares of Macerich and gave the company a “buy” rating in a research report on Thursday, December 13th. Finally, Deutsche Bank dropped their price target on shares of Macerich from $51.00 to $50.00 and set a “hold” rating on the stock in a research report on Tuesday, February 12th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $56.73.
In other news, Director Daniel J. Hirsch acquired 4,500 shares of the firm’s stock in a transaction on Tuesday, December 18th. The stock was purchased at an average price of $44.63 per share, for a total transaction of $200,835.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kenneth Volk sold 5,000 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $42.19, for a total transaction of $210,950.00. Following the completion of the sale, the senior vice president now owns 12,399 shares of the company’s stock, valued at approximately $523,113.81. The disclosure for this sale can be found here. Company insiders own 3.76% of the company’s stock.
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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 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.
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