KBC Group NV Reduces Position in Macerich Company (The) $MAC

KBC Group NV lowered its holdings in Macerich Company (The) (NYSE:MAC) by 34.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,946 shares of the real estate investment trust’s stock after selling 4,269 shares during the period. KBC Group NV’s holdings in Macerich were worth $129,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MAC. Fifth Third Bancorp raised its position in shares of Macerich by 47.7% in the 2nd quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 972 shares in the last quarter. Quarry LP raised its holdings in Macerich by 2,691.6% in the first quarter. Quarry LP now owns 3,322 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 3,203 shares in the last quarter. Inspire Advisors LLC acquired a new stake in Macerich in the first quarter valued at $178,000. PharVision Advisers LLC bought a new position in Macerich during the 1st quarter valued at $179,000. Finally, State of Wyoming grew its holdings in Macerich by 376.8% during the 1st quarter. State of Wyoming now owns 13,140 shares of the real estate investment trust’s stock worth $226,000 after acquiring an additional 10,384 shares in the last quarter. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Macerich Stock Down 0.1%

Shares of Macerich stock opened at $16.21 on Friday. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of -9.26, a PEG ratio of 2.96 and a beta of 2.25. Macerich Company has a twelve month low of $12.48 and a twelve month high of $22.27. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.00. The business’s 50 day simple moving average is $17.42 and its 200-day simple moving average is $16.90.

Macerich (NYSE:MAC) last released its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The company had revenue of $253.26 million for the quarter, compared to analyst estimates of $246.77 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. Equities research analysts forecast that Macerich Company will post 1.55 earnings per share for the current year.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 29th. Investors of record on Monday, December 15th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, December 15th. Macerich’s dividend payout ratio (DPR) is -42.77%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Macerich from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 27th. Evercore ISI upped their price objective on Macerich from $18.00 to $20.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Scotiabank lifted their target price on Macerich from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of Macerich in a research report on Wednesday, October 8th. Finally, Bank of America upgraded 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. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.95.

Macerich 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.