DekaBank Deutsche Girozentrale Purchases 7,865 Shares of Macerich Company (The) $MAC

DekaBank Deutsche Girozentrale grew its holdings in shares of Macerich Company (The) (NYSE:MAC) by 6.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 139,352 shares of the real estate investment trust’s stock after acquiring an additional 7,865 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.06% of Macerich worth $2,224,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MAC. Janney Montgomery Scott LLC raised its stake in Macerich by 15.3% during the first quarter. Janney Montgomery Scott LLC now owns 63,576 shares of the real estate investment trust’s stock worth $1,092,000 after acquiring an additional 8,458 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in Macerich by 3.5% during the first quarter. Asset Management One Co. Ltd. now owns 367,295 shares of the real estate investment trust’s stock worth $6,306,000 after acquiring an additional 12,327 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in Macerich by 5.6% during the first quarter. Illinois Municipal Retirement Fund now owns 132,219 shares of the real estate investment trust’s stock worth $2,270,000 after acquiring an additional 7,053 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Macerich by 1.2% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 269,717 shares of the real estate investment trust’s stock worth $4,631,000 after acquiring an additional 3,175 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in Macerich during the first quarter worth about $622,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Price Performance

Shares of Macerich stock opened at $18.01 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.00. The company has a market cap of $4.55 billion, a PE ratio of -10.29, a P/E/G ratio of 3.15 and a beta of 2.23. The business has a 50 day moving average of $17.72 and a 200 day moving average of $16.54. Macerich Company has a 52 week low of $12.48 and a 52 week high of $22.27.

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

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 9th were issued a $0.17 dividend. The ex-dividend date was Tuesday, September 9th. This represents a $0.68 dividend on an annualized basis and a yield of 3.8%. Macerich’s dividend payout ratio is -38.86%.

Analyst Upgrades and Downgrades

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

About Macerich

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.