Nomura Asset Management Co. Ltd. Buys 700 Shares of The Macerich Company (NYSE:MAC)

Nomura Asset Management Co. Ltd. boosted its stake in The Macerich Company (NYSE:MAC) by 0.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 275,731 shares of the real estate investment trust’s stock after purchasing an additional 700 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.12% of Macerich worth $5,029,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Quest Partners LLC raised its position in shares of Macerich by 851.9% in the 3rd quarter. Quest Partners LLC now owns 30,529 shares of the real estate investment trust’s stock valued at $557,000 after buying an additional 27,322 shares in the last quarter. Citigroup Inc. increased its stake in Macerich by 32.3% in the third quarter. Citigroup Inc. now owns 359,069 shares of the real estate investment trust’s stock valued at $6,549,000 after acquiring an additional 87,611 shares during the last quarter. Bamco Inc. NY raised its position in Macerich by 742.3% during the third quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust’s stock valued at $30,924,000 after purchasing an additional 1,494,145 shares in the last quarter. Sei Investments Co. bought a new stake in Macerich during the second quarter worth $10,625,000. Finally, Smead Capital Management Inc. boosted its holdings in shares of Macerich by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock valued at $372,706,000 after purchasing an additional 688,790 shares in the last quarter. Institutional investors own 87.38% of the company’s stock.

Macerich Stock Up 2.4 %

Shares of NYSE:MAC opened at $21.50 on Friday. The business has a fifty day simple moving average of $19.52 and a 200 day simple moving average of $16.97. The Macerich Company has a 12-month low of $12.99 and a 12-month high of $22.27. The firm has a market cap of $5.34 billion, a P/E ratio of 55.12, a P/E/G ratio of 0.74 and a beta of 2.51. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich (NYSE:MAC) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). Macerich had a return on equity of 3.15% and a net margin of 8.98%. The company had revenue of $220.20 million during the quarter, compared to analyst estimates of $208.54 million. During the same period in the prior year, the firm earned $0.44 earnings per share. Macerich’s revenue was up .9% compared to the same quarter last year. Analysts predict that The Macerich Company will post 1.56 earnings per share for the current year.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend was Tuesday, November 12th. Macerich’s dividend payout ratio is presently 174.36%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MAC. Evercore ISI upped their price objective on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group increased their target price on shares of Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a report on Thursday, September 19th. Bank of America lifted their price target on shares of Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Piper Sandler increased their price objective on shares of Macerich from $14.00 to $17.00 and gave the company an “underweight” rating in a research note on Wednesday. Finally, Compass Point boosted their target price on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $17.62.

Macerich Profile

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.