Credit Suisse AG boosted its position in shares of The Macerich Company (NYSE: MAC – Get Rating) by 11.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 366,207 shares of the real estate investment trust’s stock after acquiring an additional 38,234 shares during the period. Credit Suisse AG owned about 0.17% of Macerich worth $ 6,326,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. State Street Corp raised its position in Macerich by 8.0% during the 4th quarter. State Street Corp now owns 11,421,422 shares of the real estate investment trust’s stock worth $ 197,362,000 after buying an additional 843,369 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Macerich by 11.5% during the 4th quarter. Northern Trust Corp now owns 4,408,725 shares of the real estate investment trust’s stock worth $ 76,183,000 after purchasing an additional 453,813 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Macerich by 8.3% during the 4th quarter. Geode Capital Management LLC now owns 4,232,148 shares of the real estate investment trust’s stock worth $ 73,131,000 after purchasing an additional 322,708 shares during the last quarter. Epoch Investment Partners Inc. acquired a new stake in shares of Macerich in the fourth quarter worth approximately $ 51,220,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Macerich by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,945,708 shares of the real estate investment trust’s stock worth $ 50,903,000 after acquiring an additional 87,306 shares during the last quarter. Institutional investors and hedge funds own 84.57% of the company stock.
Shares of MAC opened at $ 10.00 on Friday. The firm has a 50-day moving average price of $ 12.83 and a 200 day moving average price of $ 15.28. The firm has a market capitalization of $ 2.15 billion, a PE ratio of 50.00, a P / E / G ratio of 1.39 and a beta of 1.88. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 1.44. The Macerich Company has a 52-week low of $ 9.98 and a 52-week high of $ 22.88.
Macerich (NYSE: MAC – Get Rating) last issued its quarterly earnings results on Monday, May 9th. The real estate investment trust reported ($ 0.17) earnings per share for the quarter, missing analysts’ consensus estimates of $ 0.46 by ($ 0.63). Macerich had a net margin of 4.66% and a return on equity of 1.29%. The business had revenue of $ 216.10 million during the quarter, compared to analyst estimates of $ 209.20 million. During the same period in the previous year, the company posted $ 0.45 earnings per share. Macerich’s revenue was up 13.5% compared to the same quarter last year. On average, equities analysts expect that The Macerich Company will post 1.96 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 3rd. Shareholders of record on Friday, May 20th were issued a $ 0.15 dividend. This represents a $ 0.60 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date of this dividend was Thursday, May 19th. Macerich’s payout ratio is 300.00%.
In other news, President Edward C. Coppola acquired 2,100 shares of Macerich stock in a transaction on Thursday, March 31st. The stock was bought at an average cost of $ 15.90 per share, with a total value of $ 33,390.00. Following the completion of the purchase, the president now owns 475,739 shares of the company stock, valued at $ 7,564,250.10. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Edward C. Coppola acquired 10,000 shares of Macerich stock in a transaction on Monday, March 28th. The shares were purchased at an average cost of $ 14.98 per share, with a total value of $ 149,800.00. The disclosure for this purchase can be found here. Insiders acquired a total of 22,100 shares of company stock valued at $ 329,390 over the last three months. 1.77% of the stock is owned by corporate insiders.
MAC has been the topic of a number of analyst reports. StockNews.com upgraded shares of Macerich from a “sell” rating to a “hold” rating in a research note on Thursday, May 12th. The Goldman Sachs Group decreased their price objective on shares of Macerich from $ 13.50 to $ 12.00 and set a “sell” rating for the company in a report on Friday, May 20th. Wells Fargo & Company decreased their price objective on shares of Macerich from $ 17.00 to $ 15.00 and set an “underweight” rating for the company in a report on Thursday, April 7th. Morgan Stanley decreased their price objective on shares of Macerich from $ 14.75 to $ 14.00 and set an “underweight” rating for the company in a report on Monday, March 7th. Finally, Piper Sandler lowered shares of Macerich from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $ 18.00 to $ 14.00 in a research report on Monday, April 18th. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $ 19.10.
About Macerich: (Get Rating)
Macerich 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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