Asset Management One Co. Ltd. Sells 9,916 Shares of Macerich Company (The) $MAC

Asset Management One Co. Ltd. trimmed its holdings in shares of Macerich Company (The) (NYSE:MAC) by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 357,379 shares of the real estate investment trust’s stock after selling 9,916 shares during the period. Asset Management One Co. Ltd. owned about 0.14% of Macerich worth $5,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MAC. Nuveen LLC bought a new position in Macerich during the 1st quarter worth about $32,554,000. T. Rowe Price Investment Management Inc. grew its holdings in Macerich by 40.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,130,323 shares of the real estate investment trust’s stock worth $105,258,000 after acquiring an additional 1,754,466 shares in the last quarter. Millennium Management LLC grew its holdings in Macerich by 376.2% during the 1st quarter. Millennium Management LLC now owns 906,843 shares of the real estate investment trust’s stock worth $15,570,000 after acquiring an additional 716,394 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Macerich during the 1st quarter worth about $12,163,000. Finally, American Assets Investment Management LLC bought a new stake in shares of Macerich in the 1st quarter valued at about $9,868,000. 87.38% of the stock is currently owned by institutional investors.

Macerich Stock Down 1.4%

MAC stock opened at $17.75 on Wednesday. The firm has a 50 day moving average of $17.74 and a 200 day moving average of $16.59. The stock has a market capitalization of $4.49 billion, a PE ratio of -10.14, a price-to-earnings-growth ratio of 3.15 and a beta of 2.23. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.00. Macerich Company has a 52 week low of $12.48 and a 52 week high of $22.27.

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

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Tuesday, September 9th were paid 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 (DPR) is -38.86%.

Analyst Ratings Changes

MAC has been the topic of a number of recent analyst reports. LADENBURG THALM/SH SH initiated coverage on shares of Macerich in a report on Friday, July 18th. They issued a “buy” rating and a $25.00 price target on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Macerich in a report on Wednesday, October 8th. Scotiabank raised their price target on shares of Macerich from $16.00 to $18.00 and gave the company a “sector perform” rating in a report on Thursday, August 28th. JPMorgan Chase & Co. raised their price target on shares of Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Wednesday, August 27th. Finally, Wall Street Zen cut shares of Macerich from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.11.

Macerich Company 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.