536,333 Shares in Macerich Company (The) $MAC Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Macerich Company (The) (NYSE:MAC) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 536,333 shares of the real estate investment trust’s stock, valued at approximately $8,678,000.

A number of other large investors also recently added to or reduced their stakes in MAC. Fifth Third Bancorp raised its position 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 purchasing an additional 972 shares during the period. Signaturefd LLC raised its position in Macerich by 34.9% in the 1st quarter. Signaturefd LLC now owns 3,329 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 862 shares during the period. Quarry LP raised its position in Macerich by 2,691.6% in the 1st 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 period. Archer Investment Corp purchased a new position in Macerich in the 1st quarter worth $98,000. Finally, Inspire Advisors LLC purchased a new position in Macerich in the 1st quarter worth $178,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Trading Down 0.6%

Shares of MAC opened at $17.15 on Tuesday. The firm’s 50-day moving average price is $17.69 and its 200-day moving average price is $16.44. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of -9.80, a PEG ratio of 3.02 and a beta of 2.23. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.00. Macerich Company has a 1-year low of $12.48 and a 1-year high of $22.27.

Macerich (NYSE:MAC) last announced its earnings results 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). The company had revenue of $249.79 million for the quarter, compared to the consensus estimate of $245.19 million. Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 EPS. Sell-side analysts anticipate that Macerich Company will post 1.55 EPS for the current year.

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 9th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.0%. Macerich’s payout ratio is presently -38.86%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MAC. JPMorgan Chase & Co. boosted their price objective on shares of Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Wednesday, August 27th. Wall Street Zen cut shares of Macerich from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Bank of America upgraded shares of Macerich from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $19.00 to $23.00 in a research report on Friday, September 26th. Evercore ISI boosted their price objective on shares of 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 shares of Macerich in a research report on Friday, July 18th. They issued a “buy” rating and a $25.00 price objective on the stock. Six equities research 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. Based on data from MarketBeat, Macerich currently has a consensus rating of “Hold” and a consensus price target of $20.11.

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.