The Macerich Company (NYSE:MAC) Position Lifted by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of The Macerich Company (NYSE:MAC) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,426,909 shares of the real estate investment trust’s stock after acquiring an additional 34,982 shares during the period. Geode Capital Management LLC owned about 2.41% of Macerich worth $99,004,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MAC. Nomura Asset Management Co. Ltd. grew its stake in Macerich by 0.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 275,731 shares of the real estate investment trust’s stock worth $5,029,000 after purchasing an additional 700 shares in the last quarter. Lodestone Wealth Management LLC grew its position in shares of Macerich by 0.6% in the 3rd quarter. Lodestone Wealth Management LLC now owns 154,082 shares of the real estate investment trust’s stock worth $2,810,000 after acquiring an additional 859 shares in the last quarter. Townsquare Capital LLC increased its holdings in shares of Macerich by 7.2% in the 3rd quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust’s stock valued at $245,000 after acquiring an additional 902 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Macerich by 40.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 933 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Macerich by 152.2% during the third quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 933 shares during the last quarter. Institutional investors own 87.38% of the company’s stock.

Macerich Stock Down 6.2 %

MAC opened at $20.03 on Thursday. The stock’s 50 day moving average price is $19.71 and its 200 day moving average price is $17.12. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $4.98 billion, a P/E ratio of 51.36, a P/E/G ratio of 0.74 and a beta of 2.51. The Macerich Company has a 12 month low of $12.99 and a 12 month high of $22.27.

Macerich (NYSE:MAC) last issued its quarterly earnings results 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). The business had revenue of $220.20 million for the quarter, compared to analyst estimates of $208.54 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. Macerich’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the business posted $0.44 earnings per share. As a group, research analysts predict that The Macerich Company will post 1.56 earnings per share for the current year.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Tuesday, November 12th. Macerich’s dividend payout ratio is currently 174.36%.

Analyst Upgrades and Downgrades

MAC has been the subject of several recent research reports. StockNews.com lowered shares of Macerich from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Bank of America boosted their price objective on shares of Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Macerich in a report on Tuesday. They issued a “hold” rating and a $22.00 target price on the stock. Scotiabank raised Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 target price for the company in a report on Tuesday. Finally, Mizuho raised Macerich from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $14.00 to $22.00 in a report on Wednesday, December 4th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.86.

About Macerich

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.