Macerich Co (MAC) Stake Raised by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC grew its stake in Macerich Co (NYSE:MAC) by 30.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 460,547 shares of the real estate investment trust’s stock after purchasing an additional 107,315 shares during the quarter. TIAA CREF Investment Management LLC’s holdings in Macerich were worth $30,249,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Delpha Capital Management LLC acquired a new stake in shares of Macerich in the 4th quarter valued at about $156,000. Tower Research Capital LLC TRC raised its stake in shares of 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 valued at $214,000 after purchasing an additional 2,924 shares in the last quarter. Miracle Mile Advisors LLC acquired a new stake in shares of Macerich in the 4th quarter valued at about $250,000. Virtu Financial LLC acquired a new stake in shares of Macerich in the 4th quarter valued at about $254,000. Finally, Cowen Prime Services LLC acquired a new stake in shares of Macerich in the 4th quarter valued at about $263,000. Institutional investors and hedge funds own 97.14% of the company’s stock.

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Shares of Macerich Co (NYSE MAC) opened at $57.28 on Monday. The firm has a market cap of $8,068.01, a PE ratio of 14.54, a P/E/G ratio of 2.15 and a beta of 0.87. Macerich Co has a 12 month low of $52.12 and a 12 month high of $69.73. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.88 and a current ratio of 0.88.

Macerich (NYSE:MAC) last posted 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 return on equity of 3.91% and a net margin of 14.71%. The firm had revenue of $245.30 million during the quarter, compared to the consensus estimate of $237.90 million. During the same quarter last year, the company posted $1.17 EPS. Macerich’s revenue for the quarter was down 6.2% on a year-over-year basis. analysts expect that Macerich Co will post 3.96 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Wednesday, February 21st were given a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 5.17%. The ex-dividend date of this dividend was Tuesday, February 20th. Macerich’s dividend payout ratio (DPR) is 290.20%.

A number of equities research analysts have recently issued reports on MAC shares. Deutsche Bank cut their target price on shares of Macerich from $65.00 to $62.00 and set a “hold” rating on the stock in a research note on Friday, February 9th. Zacks Investment Research upgraded shares of Macerich from a “sell” rating to a “hold” rating in a research note on Tuesday, March 20th. Wells Fargo upgraded shares of Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 target price on the stock in a research note on Tuesday, December 19th. Evercore ISI lowered shares of Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 price objective on the stock. in a research note on Monday, December 11th. Finally, Royal Bank of Canada lowered shares of Macerich from an “outperform” rating to a “sector perform” rating and set a $66.00 price objective on the stock. in a research note on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $65.83.

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Macerich Company Profile

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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Institutional Ownership by Quarter for Macerich (NYSE:MAC)

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