Macerich Co (MAC) Shares Sold by Barings LLC
Barings LLC reduced its stake in Macerich Co (NYSE:MAC) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 235,756 shares of the real estate investment trust’s stock after selling 5,120 shares during the period. Barings LLC’s holdings in Macerich were worth $15,484,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in shares of Macerich by 5.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,899,041 shares of the real estate investment trust’s stock valued at $159,359,000 after purchasing an additional 143,975 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Macerich by 2.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,047,155 shares of the real estate investment trust’s stock valued at $112,533,000 after purchasing an additional 49,918 shares in the last quarter. Third Point LLC acquired a new stake in shares of Macerich in the 3rd quarter valued at approximately $94,878,000. Canada Pension Plan Investment Board boosted its stake in shares of Macerich by 39.4% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,252,483 shares of the real estate investment trust’s stock valued at $68,849,000 after purchasing an additional 353,900 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Macerich by 6.3% in the 3rd quarter. Legal & General Group Plc now owns 1,224,305 shares of the real estate investment trust’s stock valued at $67,301,000 after purchasing an additional 72,046 shares in the last quarter. Institutional investors own 98.27% of the company’s stock.
MAC has been the topic of a number of research analyst reports. Boenning Scattergood set a $75.00 price target on shares of Macerich and gave the company a “buy” rating in a research note on Wednesday, November 1st. Royal Bank of Canada restated a “buy” rating and issued a $66.00 price target on shares of Macerich in a research note on Thursday, November 2nd. Wells Fargo & Co upgraded shares of Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 price target on the stock in a research note on Tuesday, December 19th. Evercore ISI downgraded shares of Macerich from an “in-line” rating to an “underperform” rating and set a $62.00 target price on the stock. in a research report on Monday, December 11th. Finally, Zacks Investment Research downgraded shares of Macerich from a “hold” rating to a “sell” rating in a research report on Monday, January 15th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $67.09.
Macerich (NYSE:MAC) last issued its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.14 by ($0.11). The firm had revenue of $245.30 million during the quarter, compared to analyst estimates of $237.90 million. Macerich had a return on equity of 3.91% and a net margin of 14.71%. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 EPS. equities research analysts forecast that Macerich Co will post 3.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Wednesday, February 21st will be given a $0.74 dividend. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.87%. Macerich’s dividend payout ratio (DPR) is currently 290.20%.
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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