Schwab Charles Investment Management Inc. Has $59.10 Million Position in Macerich Company (The) (MAC)
Schwab Charles Investment Management Inc. increased its stake in shares of Macerich Company (The) (NYSE:MAC) by 10.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,017,873 shares of the real estate investment trust’s stock after buying an additional 98,499 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.72% of Macerich Company (The) worth $59,098,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in MAC. Pacer Advisors Inc. boosted its position in 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 in the last quarter. Advisory Services Network LLC acquired a new position in Macerich Company (The) during the first quarter worth $167,000. Parametrica Management Ltd acquired a new position in Macerich Company (The) during the second quarter worth $222,000. BB&T Securities LLC acquired a new position in Macerich Company (The) during the first quarter worth $234,000. Finally, Sawtooth Solutions LLC acquired a new position in Macerich Company (The) during the first quarter worth $244,000. Institutional investors and hedge funds own 96.98% of the company’s stock.
Macerich Company (NYSE:MAC) opened at 53.17 on Thursday. Macerich Company has a 1-year low of $52.12 and a 1-year high of $83.71. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of 52.28 and a beta of 0.77. The company’s 50-day moving average price is $57.21 and its 200 day moving average price is $61.04.
Macerich Company (The) (NYSE:MAC) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.04. The company had revenue of $247.20 million for the quarter, compared to the consensus estimate of $218.62 million. Macerich Company (The) had a return on equity of 3.38% and a net margin of 14.39%. The firm’s revenue was down 4.9% compared to the same quarter last year. During the same period last year, the business posted $1.02 earnings per share. On average, equities analysts expect that Macerich Company will post $1.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Friday, August 18th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 5.34%. The ex-dividend date is Wednesday, August 16th. Macerich Company (The)’s payout ratio is presently 278.43%.
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MAC has been the subject of a number of research analyst reports. BidaskClub upgraded Macerich Company (The) from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. KeyCorp reiterated a “buy” rating and set a $75.00 price target on shares of Macerich Company (The) in a report on Monday. Barclays PLC lowered their price target on Macerich Company (The) to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, July 18th. Zacks Investment Research upgraded Macerich Company (The) from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Macerich Company (The) in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $69.79.
In related news, CEO Arthur M. Coppola sold 100,000 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $58.13, for a total value of $5,813,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.75% of the stock is currently owned by company insiders.
About Macerich Company (The)
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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