Comerica Bank boosted its stake in Macerich Co (NYSE:MAC) by 3.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,144 shares of the real estate investment trust’s stock after acquiring an additional 1,244 shares during the period. Comerica Bank’s holdings in Macerich were worth $1,965,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Delpha Capital Management LLC purchased a new stake in Macerich in the fourth quarter valued at $156,000. Tower Research Capital LLC TRC lifted its position in Macerich by 870.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the real estate investment trust’s stock valued at $214,000 after acquiring an additional 2,924 shares during the last quarter. Harvest Management LLC purchased a new stake in Macerich in the first quarter valued at $224,000. Miracle Mile Advisors LLC purchased a new stake in Macerich in the fourth quarter valued at $250,000. Finally, Virtu Financial LLC purchased a new stake in Macerich in the fourth quarter valued at $254,000. 95.20% of the stock is owned by hedge funds and other institutional investors.
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NYSE MAC opened at $54.75 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. Macerich Co has a one year low of $52.12 and a one year high of $69.73.
Macerich (NYSE:MAC) last posted its quarterly earnings data on Wednesday, May 2nd. The real estate investment trust reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($1.05). The business had revenue of $212.38 million during the quarter, compared to analyst estimates of $216.47 million. Macerich had a net margin of 4.40% and a return on equity of 1.48%. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.87 earnings per share. equities analysts anticipate that Macerich Co will post 3.96 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Tuesday, May 8th will be paid a $0.74 dividend. The ex-dividend date is Monday, May 7th. This represents a $2.96 dividend on an annualized basis and a yield of 5.41%. Macerich’s dividend payout ratio is presently 75.32%.
A number of equities research analysts recently weighed in on the stock. Barclays reduced their price target on shares of Macerich from $62.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 30th. Mizuho set a $63.00 price target on shares of Macerich and gave the company a “hold” rating in a research report on Friday, February 16th. BMO Capital Markets set a $62.00 price target on shares of Macerich and gave the company a “hold” rating in a research report on Monday, February 5th. Boenning Scattergood reissued a “buy” rating and issued a $75.00 price target on shares of Macerich in a research report on Wednesday, February 7th. Finally, Morgan Stanley reissued a “hold” rating on shares of Macerich in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. Macerich presently has an average rating of “Hold” and an average target price of $65.10.
Macerich Company Profile
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 53 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.
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