Macerich Company (The) (MAC) Position Held by APG Asset Management N.V.
APG Asset Management N.V. maintained its stake in shares of Macerich Company (The) (NYSE:MAC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,878 shares of the real estate investment trust’s stock at the end of the second quarter. APG Asset Management N.V.’s holdings in Macerich Company (The) were worth $2,838,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of MAC. Pacer Advisors Inc. boosted its stake in shares of Macerich Company (The) by 3.1% in the first quarter. Pacer Advisors Inc. now owns 2,571 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 77 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Macerich Company (The) during the first quarter worth approximately $167,000. BB&T Securities LLC bought a new stake in shares of Macerich Company (The) during the first quarter worth approximately $234,000. Sawtooth Solutions LLC bought a new stake in shares of Macerich Company (The) during the first quarter worth approximately $244,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Macerich Company (The) during the fourth quarter worth approximately $277,000. Institutional investors and hedge funds own 95.08% of the company’s stock.
Shares of Macerich Company (MAC) traded up 4.25% during trading on Friday, reaching $59.34. The company had a trading volume of 1,768,018 shares. The company has a market capitalization of $8.41 billion, a PE ratio of 52.05 and a beta of 0.77. The stock’s 50-day moving average price is $58.27 and its 200-day moving average price is $62.59. Macerich Company has a 52 week low of $56.06 and a 52 week high of $88.02.
Macerich Company (The) (NYSE:MAC) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. Macerich Company (The) had a net margin of 14.39% and a return on equity of 3.38%. The company had revenue of $247.20 million during the quarter, compared to analysts’ expectations of $218.62 million. During the same quarter in the prior year, the company posted $1.02 EPS. The business’s revenue was down 4.9% on a year-over-year basis. On average, equities analysts expect that Macerich Company will post $1.03 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Friday, August 18th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.79%. Macerich Company (The)’s dividend payout ratio is 278.43%.
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A number of analysts have commented on the company. Boenning Scattergood restated a “hold” rating on shares of Macerich Company (The) in a research report on Friday. Barclays PLC reduced their price target on Macerich Company (The) to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 18th. BidaskClub upgraded Macerich Company (The) from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Jefferies Group LLC restated a “hold” rating and issued a $57.00 price target on shares of Macerich Company (The) in a research report on Monday, July 17th. Finally, Zacks Investment Research cut Macerich Company (The) from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $71.64.
In other news, CEO Arthur M. Coppola sold 100,000 shares of the stock in a transaction on Friday, June 30th. The shares were sold at an average price of $58.13, for a total value of $5,813,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.75% of the company’s stock.
Macerich Company (The) 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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