Aberdeen Group plc Increases Position in Macerich Company (The) $MAC

Aberdeen Group plc grew its position in Macerich Company (The) (NYSE:MAC) by 11.5% during the second quarter, Holdings Channel reports. The firm owned 79,613 shares of the real estate investment trust’s stock after acquiring an additional 8,230 shares during the period. Aberdeen Group plc’s holdings in Macerich were worth $1,288,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of MAC. SG Americas Securities LLC boosted its position in Macerich by 89.2% in the first quarter. SG Americas Securities LLC now owns 49,798 shares of the real estate investment trust’s stock valued at $855,000 after buying an additional 23,475 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Macerich by 15.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 63,576 shares of the real estate investment trust’s stock valued at $1,092,000 after acquiring an additional 8,458 shares during the period. State of Alaska Department of Revenue lifted its stake in Macerich by 2.3% during the 1st quarter. State of Alaska Department of Revenue now owns 258,712 shares of the real estate investment trust’s stock valued at $4,440,000 after acquiring an additional 5,890 shares during the period. Vanderbilt University boosted its holdings in shares of Macerich by 11.7% in the 1st quarter. Vanderbilt University now owns 68,601 shares of the real estate investment trust’s stock valued at $1,178,000 after acquiring an additional 7,202 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in shares of Macerich by 3.5% in the first quarter. Asset Management One Co. Ltd. now owns 367,295 shares of the real estate investment trust’s stock worth $6,306,000 after acquiring an additional 12,327 shares during the period. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Macerich Stock Up 1.4%

MAC stock opened at $17.25 on Friday. Macerich Company has a 52 week low of $12.48 and a 52 week high of $22.27. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.00. The firm has a 50-day simple moving average of $17.68 and a 200-day simple moving average of $16.42. The stock has a market capitalization of $4.36 billion, a P/E ratio of -9.86, a P/E/G ratio of 2.98 and a beta of 2.23.

Macerich (NYSE:MAC) last released its earnings results on Monday, August 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The firm had revenue of $249.79 million during the quarter, compared to analysts’ expectations of $245.19 million. During the same quarter last year, the business earned $0.39 EPS. The business’s revenue was up 15.9% compared to the same quarter last year. Equities analysts forecast that Macerich Company will post 1.55 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Tuesday, September 9th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, September 9th. Macerich’s dividend payout ratio (DPR) is currently -38.86%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. LADENBURG THALM/SH SH started coverage on Macerich in a research note on Friday, July 18th. They set a “buy” rating and a $25.00 price objective for the company. Wall Street Zen lowered Macerich from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Evercore ISI boosted their price target on Macerich from $18.00 to $20.00 and gave the company an “in-line” rating in a report on Monday, September 15th. JPMorgan Chase & Co. upped their price objective on Macerich from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 27th. Finally, Bank of America raised shares of Macerich from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $19.00 to $23.00 in a research note on Friday, September 26th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.11.

Macerich Company Profile

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.