Nordea Investment Management AB Makes New Investment in Macerich Company (The) $MAC

Nordea Investment Management AB purchased a new stake in shares of Macerich Company (The) (NYSE:MAC) during the 3rd quarter, HoldingsChannel reports. The firm purchased 303,500 shares of the real estate investment trust’s stock, valued at approximately $5,326,000.

Several other institutional investors have also recently modified their holdings of MAC. Royal Bank of Canada lifted its holdings in shares of Macerich by 20.1% during the first quarter. Royal Bank of Canada now owns 77,872 shares of the real estate investment trust’s stock worth $1,338,000 after purchasing an additional 13,018 shares during the period. AQR Capital Management LLC raised its position in Macerich by 2.2% during the 1st quarter. AQR Capital Management LLC now owns 37,808 shares of the real estate investment trust’s stock worth $640,000 after buying an additional 813 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Macerich by 10.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 148,592 shares of the real estate investment trust’s stock valued at $2,551,000 after acquiring an additional 13,782 shares during the period. Millennium Management LLC boosted its holdings in shares of Macerich by 376.2% in the 1st quarter. Millennium Management LLC now owns 906,843 shares of the real estate investment trust’s stock valued at $15,570,000 after acquiring an additional 716,394 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Macerich by 12.8% in the first quarter. Empowered Funds LLC now owns 26,361 shares of the real estate investment trust’s stock worth $453,000 after acquiring an additional 2,983 shares during the period. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Macerich Trading Up 2.5%

MAC stock opened at $18.77 on Friday. Macerich Company has a 52-week low of $12.48 and a 52-week high of $21.12. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.97. The firm has a market cap of $4.81 billion, a P/E ratio of -11.80, a PEG ratio of 3.61 and a beta of 2.06. The company’s 50-day simple moving average is $17.94 and its 200-day simple moving average is $17.57.

Macerich (NYSE:MAC) last released its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The business had revenue of $253.26 million during the quarter, compared to analyst estimates of $246.77 million. Macerich had a negative return on equity of 14.21% and a negative net margin of 37.97%.The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS. As a group, equities analysts forecast that Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 15th were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.68 dividend on an annualized basis and a yield of 3.6%. Macerich’s dividend payout ratio (DPR) is currently -42.77%.

Wall Street Analyst Weigh In

MAC has been the subject of a number of research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Macerich in a research report on Wednesday, October 8th. Jefferies Financial Group reiterated a “buy” rating and set a $21.00 price objective on shares of Macerich in a research note on Monday, December 15th. Scotiabank boosted their price objective on Macerich from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, November 13th. Bank of America raised Macerich from a “neutral” rating to a “buy” rating and raised their target price for the stock from $19.00 to $23.00 in a report on Friday, September 26th. Finally, Mizuho set a $21.00 price target on Macerich in a research report on Friday, January 9th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $19.67.

Macerich Profile

The Macerich Company (NYSE: MAC) is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich’s core activities encompass property and asset management, leasing, marketing and redevelopment services.