Macerich Company (The) (MAC) Shares Bought by Daiwa Securities Group Inc.
Daiwa Securities Group Inc. boosted its stake in Macerich Company (The) (NYSE:MAC) by 13.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,345 shares of the real estate investment trust’s stock after buying an additional 2,600 shares during the period. Daiwa Securities Group Inc.’s holdings in Macerich Company (The) were worth $1,239,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MAC. Pacer Advisors Inc. raised its position in Macerich Company (The) by 3.1% in the first quarter. Pacer Advisors Inc. now owns 2,571 shares of the real estate investment trust’s stock valued at $166,000 after buying an additional 77 shares in the last quarter. Advisory Services Network LLC purchased a new position in Macerich Company (The) during the first quarter valued at approximately $167,000. Parametrica Management Ltd purchased a new position in Macerich Company (The) during the second quarter valued at approximately $222,000. BB&T Securities LLC purchased a new position in Macerich Company (The) during the first quarter valued at approximately $234,000. Finally, Sawtooth Solutions LLC purchased a new position in Macerich Company (The) during the first quarter valued at approximately $244,000. Institutional investors and hedge funds own 95.43% of the company’s stock.
Macerich Company (NYSE MAC) opened at 59.69 on Thursday. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 52.36 and a beta of 0.77. Macerich Company has a 12-month low of $54.98 and a 12-month high of $85.80. The company has a 50-day moving average price of $58.33 and a 200-day moving average price of $62.21.
Macerich Company (The) (NYSE:MAC) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. Macerich Company (The) had a net margin of 14.39% and a return on equity of 3.38%. The company had revenue of $247.20 million for the quarter, compared to analyst estimates of $218.62 million. During the same quarter last year, the business earned $1.02 earnings per share. Macerich Company (The)’s revenue was down 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Macerich Company will post $1.03 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Friday, August 18th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.84 annualized dividend and a dividend yield of 4.76%. Macerich Company (The)’s payout ratio is currently 278.43%.
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MAC has been the subject of several research analyst reports. BidaskClub upgraded Macerich Company (The) from a “hold” rating to a “buy” rating in a research report on Wednesday. Barclays PLC lowered their price target on Macerich Company (The) from $66.00 to $63.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 19th. Boenning Scattergood restated a “hold” rating on shares of Macerich Company (The) in a research report on Friday, August 4th. Jefferies Group LLC restated a “hold” rating and set a $57.00 price target on shares of Macerich Company (The) in a research report on Monday, July 17th. Finally, Zacks Investment Research upgraded Macerich Company (The) from a “sell” rating to a “hold” rating in a research report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $70.46.
In other Macerich Company (The) news, CEO Arthur M. Coppola sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $58.13, for a total value of $5,813,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.75% of the stock is currently owned by company insiders.
Macerich Company (The) 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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