Schwab Charles Investment Management Inc. boosted its position in shares of Macerich Co (NYSE:MAC) by 13.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,159,138 shares of the real estate investment trust’s stock after acquiring an additional 141,265 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.82% of Macerich worth $63,718,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its stake in shares of Macerich by 7.9% in the 2nd quarter. Pacer Advisors Inc. now owns 2,774 shares of the real estate investment trust’s stock valued at $161,000 after buying an additional 203 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Macerich in the 3rd quarter valued at about $216,000. Sun Life Financial INC boosted its stake in shares of Macerich by 1,864.0% in the 2nd quarter. Sun Life Financial INC now owns 3,928 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 3,728 shares during the period. Amica Pension Fund Board of Trustees purchased a new position in shares of Macerich in the 3rd quarter valued at about $229,000. Finally, Riverhead Capital Management LLC boosted its stake in shares of Macerich by 11.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,111 shares of the real estate investment trust’s stock valued at $239,000 after buying an additional 435 shares during the period. Institutional investors own 97.79% of the company’s stock.
Shares of Macerich Co (NYSE MAC) traded down $0.53 during midday trading on Monday, hitting $64.22. The stock had a trading volume of 1,632,600 shares, compared to its average volume of 1,470,566. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.25. Macerich Co has a 1-year low of $52.12 and a 1-year high of $73.34. The firm has a market cap of $9,040.43, a price-to-earnings ratio of 16.14, a PEG ratio of 2.97 and a beta of 0.88.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 4.61%. The ex-dividend date of this dividend was Thursday, November 9th. This is a positive change from Macerich’s previous quarterly dividend of $0.71. Macerich’s dividend payout ratio (DPR) is 281.91%.
Several brokerages have recently issued reports on MAC. Citigroup decreased their price objective on Macerich from $66.00 to $61.00 and set a “neutral” rating for the company in a research note on Monday, August 14th. BidaskClub upgraded Macerich from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Macerich from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. KeyCorp reiterated a “buy” rating and issued a $75.00 price objective on shares of Macerich in a research note on Thursday, September 28th. Finally, Jefferies Group reiterated a “hold” rating and issued a $57.00 price objective on shares of Macerich in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $66.80.
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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