Aviva PLC decreased its holdings in shares of Macerich Co (NYSE:MAC) by 22.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,202 shares of the real estate investment trust’s stock after selling 14,499 shares during the quarter. Aviva PLC’s holdings in Macerich were worth $2,216,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Federated Investors Inc. PA purchased a new stake in shares of Macerich during the third quarter worth $48,000. Meeder Asset Management Inc. grew its holdings in shares of Macerich by 1,480.2% during the fourth quarter. Meeder Asset Management Inc. now owns 1,754 shares of the real estate investment trust’s stock worth $76,000 after buying an additional 1,643 shares in the last quarter. Ffcm LLC grew its holdings in shares of Macerich by 174.7% during the fourth quarter. Ffcm LLC now owns 2,266 shares of the real estate investment trust’s stock worth $98,000 after buying an additional 1,441 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Macerich during the third quarter worth $205,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Macerich during the third quarter worth $208,000. 96.27% of the stock is owned by institutional investors and hedge funds.
In related news, Director Daniel J. Hirsch bought 4,500 shares of the firm’s stock in a transaction on Tuesday, December 18th. The shares were bought at an average price of $44.63 per share, with a total value of $200,835.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kenneth Volk sold 5,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $42.19, for a total transaction of $210,950.00. Following the completion of the transaction, the senior vice president now directly owns 12,399 shares in the company, valued at approximately $523,113.81. The disclosure for this sale can be found here. Corporate insiders own 3.76% of the company’s stock.
Shares of MAC stock opened at $43.38 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $6.10 billion, a PE ratio of 11.27, a PEG ratio of 7.54 and a beta of 0.88. Macerich Co has a twelve month low of $40.90 and a twelve month high of $60.95.
Macerich (NYSE:MAC) last posted its earnings results on Thursday, February 7th. The real estate investment trust reported $1.09 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.09. Macerich had a net margin of 6.25% and a return on equity of 2.41%. The company had revenue of $246.90 million for the quarter, compared to analysts’ expectations of $228.64 million. During the same quarter in the prior year, the company posted $1.03 earnings per share. Macerich’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, analysts forecast that Macerich Co will post 3.56 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 21st were given a $0.75 dividend. The ex-dividend date was Wednesday, February 20th. This represents a $3.00 dividend on an annualized basis and a yield of 6.92%. Macerich’s payout ratio is currently 77.92%.
MAC has been the subject of a number of research reports. Wells Fargo & Co dropped their target price on shares of Macerich from $72.50 to $65.50 and set an “outperform” rating for the company in a report on Friday, December 7th. Morgan Stanley cut shares of Macerich from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $58.00 to $45.00 in a research report on Monday, November 26th. Jefferies Financial Group reissued a “hold” rating and set a $46.00 price target on shares of Macerich in a research report on Wednesday, February 13th. BMO Capital Markets set a $56.00 price target on shares of Macerich and gave the company a “buy” rating in a research report on Thursday, December 13th. Finally, Deutsche Bank lowered their price target on shares of Macerich from $51.00 to $50.00 and set a “hold” rating on the stock in a research report on Tuesday, February 12th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $56.73.
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 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.
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