BlackRock Advisors LLC boosted its stake in shares of The Macerich Co. (NYSE:MAC) by 7.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 145,153 shares of the real estate investment trust’s stock after buying an additional 10,511 shares during the period. BlackRock Advisors LLC owned about 0.10% of The Macerich worth $12,395,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new position in shares of The Macerich during the first quarter valued at $344,000. Aperio Group LLC increased its position in shares of The Macerich by 1.8% in the first quarter. Aperio Group LLC now owns 50,500 shares of the real estate investment trust’s stock valued at $4,002,000 after buying an additional 882 shares in the last quarter. Franklin Resources Inc. increased its position in shares of The Macerich by 22.9% in the first quarter. Franklin Resources Inc. now owns 290,038 shares of the real estate investment trust’s stock valued at $22,983,000 after buying an additional 54,000 shares in the last quarter. BlackRock Japan Co. Ltd increased its position in shares of The Macerich by 3.0% in the first quarter. BlackRock Japan Co. Ltd now owns 178,201 shares of the real estate investment trust’s stock valued at $14,121,000 after buying an additional 5,144 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of The Macerich by 13.4% in the first quarter. JPMorgan Chase & Co. now owns 3,478,909 shares of the real estate investment trust’s stock valued at $275,668,000 after buying an additional 411,912 shares in the last quarter. 94.66% of the stock is currently owned by institutional investors and hedge funds.
The Macerich Co. (NYSE:MAC) opened at 76.30 on Thursday. The firm’s 50-day moving average is $81.36 and its 200-day moving average is $81.17. The company has a market cap of $10.96 billion, a PE ratio of 12.82 and a beta of 0.90. The Macerich Co. has a 52-week low of $71.82 and a 52-week high of $94.51.
The Macerich (NYSE:MAC) last posted its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $1.02 EPS for the quarter, topping the consensus estimate of $0.98 by $0.04. The Macerich had a return on equity of 17.91% and a net margin of 78.65%. The business had revenue of $259.90 million for the quarter, compared to analyst estimates of $252.32 million. During the same quarter in the previous year, the firm earned $0.90 EPS. The company’s quarterly revenue was down 19.5% compared to the same quarter last year. On average, equities research analysts anticipate that The Macerich Co. will post $4.11 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 8th. Stockholders of record on Friday, August 19th were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $2.72 annualized dividend and a dividend yield of 3.56%. The Macerich’s dividend payout ratio is presently 45.87%.
MAC has been the topic of several analyst reports. Deutsche Bank AG lifted their price target on shares of The Macerich from $83.00 to $84.00 and gave the company a “hold” rating in a report on Monday, July 18th. Credit Suisse Group AG reissued a “sell” rating and issued a $78.00 target price on shares of The Macerich in a report on Tuesday, August 2nd. Zacks Investment Research downgraded shares of The Macerich from a “buy” rating to a “hold” rating in a report on Friday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of The Macerich from $83.00 to $87.00 and gave the stock a “neutral” rating in a report on Friday, August 5th. Finally, Canaccord Genuity boosted their target price on shares of The Macerich from $80.00 to $84.00 and gave the stock a “hold” rating in a report on Tuesday, August 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $88.00.
In related news, EVP Randy L. Brant sold 24,250 shares of the firm’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $83.10, for a total transaction of $2,015,175.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert D. Perlmutter sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $79.45, for a total value of $119,175.00. The disclosure for this sale can be found here. Insiders own 3.54% of the company’s stock.
The Macerich Company Profile
The Macerich 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. It owns 56 million square feet of real estate consisting primarily of interests in 51 regional shopping centers.
Receive News & Ratings for The Macerich Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Macerich Co. and related companies with MarketBeat.com's FREE daily email newsletter.