Aberdeen Group plc Buys 8,230 Shares of Macerich Company (The) $MAC

Aberdeen Group plc raised its stake in shares of Macerich Company (The) (NYSE:MAC) by 11.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,613 shares of the real estate investment trust’s stock after purchasing an additional 8,230 shares during the period. Aberdeen Group plc’s holdings in Macerich were worth $1,288,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in Macerich by 47.7% in the 2nd quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 972 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Macerich by 34.9% in the first quarter. Signaturefd LLC now owns 3,329 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 862 shares in the last quarter. Quarry LP increased its position in Macerich by 2,691.6% in the first quarter. Quarry LP now owns 3,322 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 3,203 shares during the last quarter. Archer Investment Corp purchased a new stake in Macerich during the first quarter valued at $98,000. Finally, Inspire Advisors LLC bought a new position in Macerich during the first quarter valued at $178,000. 87.38% of the stock is owned by institutional investors.

Macerich Trading Up 1.4%

MAC opened at $17.25 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.00. The stock’s fifty day moving average is $17.68 and its two-hundred day moving average is $16.42. The company has a market capitalization of $4.36 billion, a P/E ratio of -9.86, a PEG ratio of 2.98 and a beta of 2.23. Macerich Company has a 52 week low of $12.48 and a 52 week high of $22.27.

Macerich (NYSE:MAC) last released its quarterly earnings data on Monday, August 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Macerich had a negative return on equity of 15.15% and a negative net margin of 41.33%.The business had revenue of $249.79 million during the quarter, compared to analysts’ expectations of $245.19 million. During the same period last year, the company earned $0.39 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. Analysts forecast that Macerich Company will post 1.55 earnings per share for the current year.

Macerich Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 9th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, September 9th. Macerich’s dividend payout ratio is presently -38.86%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MAC. JPMorgan Chase & Co. boosted their target price on shares of Macerich from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Wednesday, August 27th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Macerich in a research report on Wednesday, October 8th. Scotiabank raised their price objective on Macerich from $16.00 to $18.00 and gave the company a “sector perform” rating in a research note on Thursday, August 28th. Evercore ISI boosted their target price on Macerich from $18.00 to $20.00 and gave the company an “in-line” rating in a research report on Monday, September 15th. Finally, LADENBURG THALM/SH SH began coverage on Macerich in a report on Friday, July 18th. They set a “buy” rating and a $25.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.11.

About Macerich

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.