Delpha Capital Management LLC Invests $156,000 in Macerich Co (MAC) Stock
Delpha Capital Management LLC acquired a new position in Macerich Co (NYSE:MAC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,371 shares of the real estate investment trust’s stock, valued at approximately $156,000.
A number of other institutional investors have also recently bought and sold shares of MAC. APG Asset Management N.V. raised its position in Macerich by 26.6% in the 3rd quarter. APG Asset Management N.V. now owns 61,878 shares of the real estate investment trust’s stock worth $3,401,000 after purchasing an additional 13,000 shares during the period. Korea Investment CORP increased its position in shares of Macerich by 11.3% during the third quarter. Korea Investment CORP now owns 40,400 shares of the real estate investment trust’s stock worth $2,221,000 after acquiring an additional 4,100 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Macerich during the third quarter worth approximately $538,000. Andra AP fonden increased its position in shares of Macerich by 24.2% during the third quarter. Andra AP fonden now owns 34,400 shares of the real estate investment trust’s stock worth $1,891,000 after acquiring an additional 6,700 shares during the period. Finally, Global X MANAGEMENT CO LLC increased its position in shares of Macerich by 19.0% during the third quarter. Global X MANAGEMENT CO LLC now owns 7,655 shares of the real estate investment trust’s stock worth $421,000 after acquiring an additional 1,220 shares during the period. 98.96% of the stock is currently owned by institutional investors.
A number of equities analysts have recently commented on the stock. Wells Fargo & Co raised shares of Macerich from a “market perform” rating to an “outperform” rating and set a $72.50 target price on the stock in a research report on Tuesday, December 19th. Mizuho set a $63.00 target price on shares of Macerich and gave the stock a “hold” rating in a research report on Friday, February 16th. Citigroup reduced their target price on shares of Macerich from $66.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, February 9th. Boenning Scattergood reaffirmed a “buy” rating and set a $75.00 target price on shares of Macerich in a research report on Wednesday, February 7th. Finally, Barclays reduced their target price on shares of Macerich from $62.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 30th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $67.26.
Macerich (NYSE:MAC) last announced its earnings results on Monday, February 5th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.11). The firm had revenue of $245.30 million during the quarter, compared to analyst estimates of $237.90 million. Macerich had a net margin of 14.71% and a return on equity of 3.91%. Macerich’s revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the business earned $1.17 earnings per share. equities research analysts anticipate that Macerich Co will post 3.96 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Wednesday, February 21st were paid a $0.74 dividend. The ex-dividend date was Tuesday, February 20th. This represents a $2.96 annualized dividend and a yield of 5.01%. Macerich’s dividend payout ratio (DPR) is 290.20%.
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Macerich Company Profile
The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.
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