Dynamic Capital Management Ltd bought a new position in Macerich Co (NYSE:MAC) in the 4th quarter, HoldingsChannel reports. The fund bought 6,512 shares of the real estate investment trust’s stock, valued at approximately $428,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Delpha Capital Management LLC bought a new position in Macerich in the 4th quarter worth about $156,000. Tower Research Capital LLC TRC grew its position in Macerich by 870.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the real estate investment trust’s stock worth $214,000 after purchasing an additional 2,924 shares during the last quarter. Amica Pension Fund Board of Trustees bought a new position in Macerich in the 3rd quarter worth about $229,000. Miracle Mile Advisors LLC bought a new position in Macerich in the 4th quarter worth about $250,000. Finally, Virtu Financial LLC bought a new position in Macerich in the 4th quarter worth about $254,000. Hedge funds and other institutional investors own 98.96% of the company’s stock.
Several research analysts have recently issued reports on MAC shares. Wells Fargo & Co upgraded shares of Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 price objective for the company in a report on Tuesday, December 19th. Evercore ISI cut shares of Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 price objective for the company. in a report on Monday, December 11th. Zacks Investment Research cut shares of Macerich from a “hold” rating to a “sell” rating in a report on Monday, January 15th. Sandler O’Neill reiterated a “hold” rating and issued a $71.00 price objective on shares of Macerich in a report on Tuesday, January 23rd. Finally, Royal Bank of Canada cut shares of Macerich from an “outperform” rating to a “sector perform” rating and set a $66.00 price objective for the company. in a report on Wednesday, January 3rd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company. Macerich has a consensus rating of “Hold” and an average target price of $67.26.
Macerich (NYSE:MAC) last released its earnings results on Monday, February 5th. The real estate investment trust reported $1.03 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.11). Macerich had a net margin of 14.71% and a return on equity of 3.91%. The business had revenue of $245.30 million for the quarter, compared to analyst estimates of $237.90 million. During the same period in the prior year, the company earned $1.17 earnings per share. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. equities analysts predict that Macerich Co will post 3.96 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Wednesday, February 21st were paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 5.10%. The ex-dividend date was Tuesday, February 20th. Macerich’s dividend payout ratio is presently 290.20%.
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The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.
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