Honeywell International Inc. maintained its position in The Macerich Co. (NYSE:MAC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,925 shares of the real estate investment trust’s stock at the end of the third quarter. Honeywell International Inc.’s holdings in The Macerich were worth $2,016,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the company. Tradition Capital Management LLC acquired a new position in The Macerich during the second quarter worth approximately $1,379,000. Advantus Capital Management Inc raised its position in The Macerich by 5.8% in the second quarter. Advantus Capital Management Inc now owns 282,097 shares of the real estate investment trust’s stock worth $24,088,000 after buying an additional 15,454 shares in the last quarter. Capital Fund Management S.A. acquired a new position in The Macerich during the second quarter worth approximately $13,005,000. Oakbrook Investments LLC raised its position in The Macerich by 10.7% in the second quarter. Oakbrook Investments LLC now owns 8,251 shares of the real estate investment trust’s stock worth $705,000 after buying an additional 800 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in The Macerich by 19.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 237,270 shares of the real estate investment trust’s stock worth $20,261,000 after buying an additional 38,553 shares in the last quarter. 94.89% of the stock is currently owned by institutional investors.
The Macerich Co. (NYSE:MAC) traded down 0.19% during midday trading on Friday, reaching $69.02. The company had a trading volume of 215,768 shares. The company has a market capitalization of $9.92 billion, a PE ratio of 11.57 and a beta of 0.84. The Macerich Co. has a 12-month low of $66.00 and a 12-month high of $94.51. The stock has a 50-day moving average price of $72.17 and a 200 day moving average price of $79.54.
The Macerich (NYSE:MAC) last posted its quarterly earnings data on Thursday, October 27th. The real estate investment trust reported $1.04 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.04. The Macerich had a return on equity of 18.73% and a net margin of 82.09%. The firm earned $253.37 million during the quarter, compared to analyst estimates of $257.87 million. During the same period last year, the company posted $1.01 EPS. The business’s quarterly revenue was down 22.3% on a year-over-year basis. Equities analysts forecast that The Macerich Co. will post $4.10 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 11th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.11%. This is a positive change from The Macerich’s previous quarterly dividend of $0.68. The ex-dividend date is Tuesday, November 8th. The Macerich’s payout ratio is presently 48.88%.
MAC has been the topic of a number of recent analyst reports. Zacks Investment Research raised The Macerich from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Wednesday, October 5th. BTIG Research assumed coverage on The Macerich in a research report on Thursday, August 25th. They set a “buy” rating and a $97.00 target price for the company. Deutsche Bank AG boosted their target price on The Macerich from $84.00 to $87.00 and gave the stock a “hold” rating in a research report on Tuesday, October 4th. JPMorgan Chase & Co. boosted their target price on The Macerich from $83.00 to $87.00 and gave the stock a “neutral” rating in a research report on Friday, August 5th. Finally, Mizuho upgraded The Macerich from a “neutral” rating to a “buy” rating and set a $84.00 target price for the company in a research report on Monday, November 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. The Macerich presently has a consensus rating of “Hold” and an average target price of $86.62.
In related news, EVP Robert D. Perlmutter sold 1,500 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $81.52, for a total value of $122,280.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Randy L. Brant sold 24,250 shares of the business’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $83.10, for a total value of $2,015,175.00. The disclosure for this sale can be found here. 3.54% of the stock is owned by corporate insiders.
About The Macerich
The Macerich 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. It owns 56 million square feet of real estate consisting primarily of interests in 51 regional shopping centers.