Asset Management One Co. Ltd. Trims Position in Macerich Company (The) $MAC

Asset Management One Co. Ltd. cut its holdings in shares of Macerich Company (The) (NYSE:MAC) by 2.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 357,379 shares of the real estate investment trust’s stock after selling 9,916 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Macerich were worth $5,782,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale raised its position in Macerich by 6.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 139,352 shares of the real estate investment trust’s stock worth $2,224,000 after buying an additional 7,865 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Macerich during the 2nd quarter worth approximately $8,678,000. Bayforest Capital Ltd purchased a new position in Macerich during the 2nd quarter worth approximately $346,000. TD Asset Management Inc raised its position in Macerich by 6.0% during the 2nd quarter. TD Asset Management Inc now owns 60,802 shares of the real estate investment trust’s stock worth $984,000 after buying an additional 3,460 shares during the last quarter. Finally, Yousif Capital Management LLC raised its position in Macerich by 2.5% during the 2nd quarter. Yousif Capital Management LLC now owns 95,067 shares of the real estate investment trust’s stock worth $1,538,000 after buying an additional 2,297 shares during the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MAC has been the subject of several recent research reports. Scotiabank lifted their target price on shares of Macerich from $16.00 to $18.00 and gave the company a “sector perform” rating in a report on Thursday, August 28th. Evercore ISI lifted their target price on shares of Macerich from $18.00 to $20.00 and gave the company an “in-line” rating in a report on Monday, September 15th. JPMorgan Chase & Co. lifted their target price on shares of Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Wednesday, August 27th. Bank of America raised shares of Macerich from a “neutral” rating to a “buy” rating and lifted their target price for the company from $19.00 to $23.00 in a report on Friday, September 26th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Macerich in a report on Wednesday, October 8th. Six 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.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.11.

Macerich Price Performance

Macerich stock opened at $17.75 on Wednesday. The company’s fifty day moving average price is $17.74 and its 200 day moving average price is $16.59. Macerich Company has a 1 year low of $12.48 and a 1 year high of $22.27. The stock has a market capitalization of $4.49 billion, a P/E ratio of -10.14, a P/E/G ratio of 3.15 and a beta of 2.23. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.76 and a current ratio of 0.76.

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

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Tuesday, September 9th were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $0.68 dividend on an annualized basis and a yield of 3.8%. Macerich’s dividend payout ratio (DPR) is currently -38.86%.

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.