KLP Kapitalforvaltning AS Has $870,000 Position in Macerich Company (The) $MAC

KLP Kapitalforvaltning AS grew its holdings in shares of Macerich Company (The) (NYSE:MAC) by 13.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,749 shares of the real estate investment trust’s stock after acquiring an additional 6,500 shares during the period. KLP Kapitalforvaltning AS’s holdings in Macerich were worth $870,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Fifth Third Bancorp grew its holdings in Macerich by 47.7% during the 2nd quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 972 shares during the period. Signaturefd LLC grew its holdings in Macerich by 34.9% during the 1st quarter. Signaturefd LLC now owns 3,329 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 862 shares during the period. Quarry LP grew its holdings in Macerich by 2,691.6% during the 1st quarter. Quarry LP now owns 3,322 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 3,203 shares during the period. Archer Investment Corp acquired a new stake in Macerich during the 1st quarter worth about $98,000. Finally, Inspire Advisors LLC acquired a new stake in Macerich during the 1st quarter worth about $178,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MAC. JPMorgan Chase & Co. raised their target price on Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Wednesday, August 27th. Bank of America upgraded Macerich from a “neutral” rating to a “buy” rating and raised their target price for the company from $19.00 to $23.00 in a research note on Friday, September 26th. Evercore ISI raised their target price on Macerich from $18.00 to $20.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. LADENBURG THALM/SH SH began coverage on Macerich in a research note on Friday, July 18th. They issued a “buy” rating and a $25.00 target price for the company. Finally, Wall Street Zen downgraded Macerich from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.11.

Macerich Stock Up 1.3%

Macerich stock opened at $17.34 on Thursday. Macerich Company has a 1-year low of $12.48 and a 1-year high of $22.27. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of -9.91, a P/E/G ratio of 3.00 and a beta of 2.23. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.00. The firm has a 50 day simple moving average of $17.66 and a 200 day simple moving average of $16.42.

Macerich (NYSE:MAC) last released its quarterly earnings data on Monday, August 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $249.79 million during the quarter, compared to analysts’ expectations of $245.19 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. On average, analysts predict that Macerich Company will post 1.55 earnings per share for the current year.

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Tuesday, September 9th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Tuesday, September 9th. Macerich’s payout ratio is currently -38.86%.

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.