Amundi Lowers Stock Position in Macerich Company (The) $MAC

Amundi trimmed its position in Macerich Company (The) (NYSE:MAC) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 247,107 shares of the real estate investment trust’s stock after selling 7,168 shares during the period. Amundi owned approximately 0.10% of Macerich worth $4,243,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new position in Macerich in the 4th quarter valued at $45,000. State of Wyoming purchased a new position in Macerich in the 4th quarter valued at $55,000. Quarry LP grew its position in Macerich by 2,691.6% in the 1st quarter. Quarry LP now owns 3,322 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 3,203 shares during the last quarter. Signaturefd LLC grew its position in Macerich by 34.9% in the 1st quarter. Signaturefd LLC now owns 3,329 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 862 shares during the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in shares of Macerich during the 4th quarter worth $83,000. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Macerich Trading Down 0.8%

Shares of MAC stock opened at $17.93 on Thursday. The firm has a 50-day moving average price of $17.27 and a 200 day moving average price of $16.43. Macerich Company has a twelve month low of $12.48 and a twelve month high of $22.27. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of -10.25, a PEG ratio of 3.49 and a beta of 2.27. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.00.

Macerich (NYSE:MAC) last announced its earnings results on Monday, August 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The firm had revenue of $249.79 million during the quarter, compared to analyst estimates of $245.19 million. During the same period in the previous year, the firm posted $0.39 EPS. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. Research analysts forecast that Macerich Company will post 1.55 earnings per share for the current fiscal year.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 9th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.8%. Macerich’s dividend payout ratio is currently -38.86%.

Wall Street Analysts Forecast Growth

MAC has been the topic of several research analyst reports. LADENBURG THALM/SH SH initiated coverage on shares of Macerich in a research report on Friday, July 18th. They set a “buy” rating and a $25.00 target price on the stock. Scotiabank boosted their target price on shares of Macerich from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 28th. Wall Street Zen lowered shares of Macerich from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. boosted their target price on shares of Macerich from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 27th. Finally, Mizuho upgraded shares of Macerich from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $22.00 to $18.00 in a research report on Tuesday, June 10th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.78.

Macerich Profile

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.