Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of The Macerich Co. (NYSE:MAC) during the second quarter, according to its most recent filing with the SEC. The institutional investor bought 5,096 shares of the real estate investment trust’s stock, valued at approximately $435,000.
Several other hedge funds have also made changes to their positions in MAC. Kentucky Retirement Systems acquired a new stake in shares of The Macerich during the second quarter worth approximately $916,000. Nomura Holdings Inc. boosted its stake in shares of The Macerich by 6.9% in the second quarter. Nomura Holdings Inc. now owns 8,465 shares of the real estate investment trust’s stock worth $720,000 after buying an additional 548 shares during the period. Mason Street Advisors LLC acquired a new stake in shares of The Macerich during the second quarter worth approximately $1,452,000. Schwab Charles Investment Management Inc. boosted its stake in shares of The Macerich by 9.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 838,991 shares of the real estate investment trust’s stock worth $71,642,000 after buying an additional 75,444 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of The Macerich by 13.4% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 30,112 shares of the real estate investment trust’s stock worth $2,571,000 after buying an additional 3,548 shares during the period. Hedge funds and other institutional investors own 94.89% of the company’s stock.
The Macerich Co. (NYSE:MAC) traded down 0.19% during midday trading on Friday, hitting $69.02. 215,768 shares of the stock traded hands. The company has a 50-day moving average of $72.17 and a 200-day moving average of $79.54. The Macerich Co. has a 12 month low of $66.00 and a 12 month high of $94.51. The stock has a market cap of $9.92 billion, a PE ratio of 11.57 and a beta of 0.84.
The Macerich (NYSE:MAC) last issued its quarterly earnings data on Thursday, October 27th. The real estate investment trust reported $1.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.04. The Macerich had a return on equity of 18.73% and a net margin of 82.09%. The company had revenue of $253.37 million for the quarter, compared to the consensus estimate of $257.87 million. During the same quarter last year, the company earned $1.01 earnings per share. The firm’s revenue for the quarter was down 22.3% compared to the same quarter last year. On average, equities research analysts anticipate that The Macerich Co. will post $4.10 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 11th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 4.11%. The ex-dividend date is Tuesday, November 8th. This is an increase from The Macerich’s previous quarterly dividend of $0.68. The Macerich’s dividend payout ratio (DPR) is currently 48.88%.
MAC has been the topic of a number of analyst reports. TheStreet cut shares of The Macerich from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th. Mizuho upgraded shares of The Macerich from a “neutral” rating to a “buy” rating and set a $84.00 price target on the stock in a research note on Monday, November 7th. Zacks Investment Research cut shares of The Macerich from a “buy” rating to a “hold” rating in a research note on Monday, October 24th. Deutsche Bank AG upped their price target on shares of The Macerich from $84.00 to $87.00 and gave the stock a “hold” rating in a research note on Tuesday, October 4th. Finally, Jefferies Group upped their price target on shares of The Macerich from $86.00 to $88.00 and gave the stock a “hold” rating in a research note on Wednesday, August 31st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $86.62.
In other The Macerich news, Vice Chairman Dana K. Anderson purchased 10,000 shares of the stock in a transaction on Wednesday, November 9th. The stock was acquired at an average price of $67.78 per share, with a total value of $677,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Randy L. Brant sold 24,250 shares of the firm’s stock in a transaction dated Friday, September 23rd. The stock was 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 company 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.