Heitman Real Estate Securities LLC Has $36.32 Million Holdings in Macerich Co (MAC)
Heitman Real Estate Securities LLC raised its stake in Macerich Co (NYSE:MAC) by 150.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 576,095 shares of the real estate investment trust’s stock after purchasing an additional 345,683 shares during the quarter. Macerich makes up about 1.8% of Heitman Real Estate Securities LLC’s portfolio, making the stock its 21st biggest holding. Heitman Real Estate Securities LLC owned 0.41% of Macerich worth $36,323,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its stake in Macerich by 9,246.4% in the second quarter. Envestnet Asset Management Inc. now owns 2,617 shares of the real estate investment trust’s stock valued at $149,000 after purchasing an additional 2,589 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Macerich during the 2nd quarter worth approximately $207,000. ING Groep NV bought a new position in shares of Macerich during the 2nd quarter worth approximately $219,000. Gideon Capital Advisors Inc. bought a new position in shares of Macerich during the 2nd quarter worth approximately $234,000. Finally, Sun Life Financial INC boosted its stake in shares of Macerich by 1,603.3% during the 2nd quarter. Sun Life Financial INC now owns 4,173 shares of the real estate investment trust’s stock worth $237,000 after acquiring an additional 3,928 shares during the period. Hedge funds and other institutional investors own 96.38% of the company’s stock.
Several research analysts have recently commented on the company. Zacks Investment Research downgraded Macerich from a “hold” rating to a “sell” rating in a research note on Monday, July 30th. BMO Capital Markets set a $66.00 target price on Macerich and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Boenning Scattergood set a $75.00 target price on Macerich and gave the stock a “buy” rating in a research note on Friday, May 4th. SunTrust Banks reiterated a “hold” rating and set a $60.00 target price on shares of Macerich in a research note on Thursday, August 16th. Finally, Bank of America lifted their target price on Macerich from $60.00 to $62.00 and gave the stock a “neutral” rating in a research note on Monday, August 13th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. Macerich presently has a consensus rating of “Hold” and a consensus target price of $64.47.
Macerich (NYSE:MAC) last released its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.91). The firm had revenue of $234.50 million for the quarter, compared to analyst estimates of $216.37 million. Macerich had a return on equity of 1.58% and a net margin of 2.52%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 earnings per share. sell-side analysts forecast that Macerich Co will post 3.87 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Friday, August 17th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $2.96 annualized dividend and a yield of 5.02%. Macerich’s payout ratio is currently 75.32%.
Macerich Company Profile
Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 53 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.
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