Nationwide Fund Advisors Reduces Position in Macerich Co (MAC)
Nationwide Fund Advisors reduced its position in shares of Macerich Co (NYSE:MAC) by 20.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,210 shares of the real estate investment trust’s stock after selling 31,898 shares during the period. Nationwide Fund Advisors owned about 0.09% of Macerich worth $6,718,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. AEW Capital Management L P increased its position in Macerich by 306.7% in the second quarter. AEW Capital Management L P now owns 3,132,200 shares of the real estate investment trust’s stock worth $35,531,000 after buying an additional 2,362,121 shares during the period. Balyasny Asset Management LLC acquired a new stake in Macerich in the second quarter worth $22,446,000. Koch Industries Inc. acquired a new stake in Macerich in the second quarter worth $289,000. V3 Capital Management L.P. increased its position in Macerich by 32.7% in the second quarter. V3 Capital Management L.P. now owns 1,066,720 shares of the real estate investment trust’s stock worth $61,934,000 after buying an additional 263,100 shares during the period. Finally, Alta Fundamental Advisers LLC acquired a new stake in Macerich in the second quarter worth $13,049,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.
MAC has been the topic of several analyst reports. KeyCorp reaffirmed a “buy” rating and issued a $75.00 target price on shares of Macerich in a research report on Monday, August 28th. Boenning Scattergood set a $75.00 target price on Macerich and gave the stock a “buy” rating in a research report on Wednesday, November 1st. BMO Capital Markets set a $55.00 price target on Macerich and gave the company a “hold” rating in a report on Monday, October 30th. Mizuho reissued a “hold” rating and set a $60.00 price target on shares of Macerich in a report on Friday, November 10th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $66.00 price target on shares of Macerich in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company’s stock. Macerich presently has an average rating of “Hold” and an average price target of $66.50.
Shares of Macerich Co (MAC) traded down $2.46 during mid-day trading on Tuesday, reaching $63.29. The company had a trading volume of 2,590,000 shares, compared to its average volume of 1,475,893. Macerich Co has a fifty-two week low of $52.12 and a fifty-two week high of $73.34. The company has a market capitalization of $9,255.82, a PE ratio of 16.52, a P/E/G ratio of 3.08 and a beta of 0.88. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.85 and a quick ratio of 0.85.
Macerich (NYSE:MAC) last announced its earnings results on Monday, October 30th. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.86). Macerich had a net margin of 14.92% and a return on equity of 3.56%. The firm had revenue of $242.50 million for the quarter, compared to the consensus estimate of $226.00 million. During the same period in the prior year, the business earned $1.04 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. sell-side analysts expect that Macerich Co will post 3.95 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were paid a dividend of $0.74 per share. The ex-dividend date was Thursday, November 9th. This represents a $2.96 annualized dividend and a yield of 4.68%. This is a boost from Macerich’s previous quarterly dividend of $0.71. Macerich’s dividend payout ratio (DPR) is currently 281.91%.
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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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