Russell Investments Group Ltd. lifted its holdings in Macerich Co (NYSE:MAC) by 51.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 771,183 shares of the real estate investment trust’s stock after buying an additional 262,097 shares during the period. Russell Investments Group Ltd.’s holdings in Macerich were worth $42,399,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Eii Capital Management Inc. boosted its position in Macerich by 2.0% during the second quarter. Eii Capital Management Inc. now owns 50,313 shares of the real estate investment trust’s stock valued at $2,859,000 after purchasing an additional 976 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Macerich by 4.9% in the second quarter. SG Americas Securities LLC now owns 23,012 shares of the real estate investment trust’s stock worth $1,308,000 after buying an additional 1,081 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Macerich by 3.4% in the third quarter. Nisa Investment Advisors LLC now owns 33,042 shares of the real estate investment trust’s stock worth $1,827,000 after buying an additional 1,100 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Macerich by 17.9% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,268 shares of the real estate investment trust’s stock worth $413,000 after buying an additional 1,104 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of Macerich by 17.5% in the second quarter. US Bancorp DE now owns 7,926 shares of the real estate investment trust’s stock worth $450,000 after buying an additional 1,182 shares during the last quarter. 96.25% of the stock is owned by institutional investors and hedge funds.
Macerich stock opened at $51.88 on Wednesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $7.27 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 2.11 and a beta of 0.82. Macerich Co has a 52 week low of $49.41 and a 52 week high of $69.73.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Friday, November 9th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This is a positive change from Macerich’s previous quarterly dividend of $0.74. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.78%. Macerich’s payout ratio is presently 75.32%.
A number of analysts have weighed in on MAC shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $64.00 price target on shares of Macerich in a research report on Tuesday, September 25th. Zacks Investment Research raised Macerich from a “sell” rating to a “hold” rating in a research report on Monday, September 3rd. Bank of America boosted their price target on Macerich from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday, August 13th. Scotiabank started coverage on Macerich in a research report on Tuesday, October 16th. They issued a “sector perform” rating for the company. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $60.00 price target on shares of Macerich in a research report on Thursday, August 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $63.97.
Macerich Company Profile
Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 52 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.
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