Bessemer Group Inc. Has $592,000 Stake in Macerich Company (The) $MAC

Bessemer Group Inc. lifted its holdings in shares of Macerich Company (The) (NYSE:MAC) by 4,844.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 36,590 shares of the real estate investment trust’s stock after acquiring an additional 35,850 shares during the period. Bessemer Group Inc.’s holdings in Macerich were worth $592,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. AQR Capital Management LLC lifted its holdings in shares of Macerich by 2.2% during the 1st quarter. AQR Capital Management LLC now owns 37,808 shares of the real estate investment trust’s stock worth $640,000 after acquiring an additional 813 shares during the period. Assetmark Inc. lifted its holdings in shares of Macerich by 4.5% during the 1st quarter. Assetmark Inc. now owns 19,537 shares of the real estate investment trust’s stock worth $335,000 after acquiring an additional 839 shares during the period. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Macerich by 2.4% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 36,060 shares of the real estate investment trust’s stock worth $619,000 after acquiring an additional 860 shares during the period. Signaturefd LLC lifted its holdings in shares of 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. Finally, Fifth Third Bancorp lifted its holdings in shares of 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. 87.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Macerich in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Macerich from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Bank of America raised shares of Macerich from a “neutral” rating to a “buy” rating and lifted their price target for the company from $19.00 to $23.00 in a report on Friday, September 26th. Scotiabank lifted 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. Finally, JPMorgan Chase & Co. lifted 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. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.11.

Macerich Trading Up 1.6%

Shares of NYSE MAC opened at $17.20 on Friday. Macerich Company has a 1-year low of $12.48 and a 1-year high of $22.27. The company has a market cap of $4.35 billion, a PE ratio of -9.83, a P/E/G ratio of 2.96 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 company has a 50-day moving average of $17.71 and a two-hundred day moving average of $16.65.

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 analysts’ consensus estimates of $0.34 by ($0.02). Macerich had a negative return on equity of 15.15% and a negative net margin of 41.33%.The company had revenue of $249.79 million during the quarter, compared to the consensus estimate of $245.19 million. During the same period in the prior year, the firm posted $0.39 earnings per share. The company’s revenue was up 15.9% on a year-over-year basis. As a group, equities analysts expect that Macerich Company will post 1.55 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Shareholders of record on Monday, December 15th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.0%. Macerich’s payout ratio is currently -38.86%.

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.