Chilton Capital Management LLC increased its stake in shares of Macerich Co (NYSE:MAC) by 23.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,646 shares of the real estate investment trust’s stock after purchasing an additional 42,803 shares during the quarter. Chilton Capital Management LLC owned approximately 0.16% of Macerich worth $7,557,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. CIBC Asset Management Inc raised its holdings in shares of Macerich by 2.8% in the first quarter. CIBC Asset Management Inc now owns 11,727 shares of the real estate investment trust’s stock valued at $508,000 after purchasing an additional 316 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Macerich by 1.8% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 17,693 shares of the real estate investment trust’s stock worth $767,000 after acquiring an additional 317 shares during the last quarter. TD Asset Management Inc. boosted its holdings in shares of Macerich by 1.1% during the 1st quarter. TD Asset Management Inc. now owns 31,193 shares of the real estate investment trust’s stock valued at $1,352,000 after buying an additional 332 shares in the last quarter. 6 Meridian grew its stake in shares of Macerich by 3.6% in the second quarter. 6 Meridian now owns 10,827 shares of the real estate investment trust’s stock worth $363,000 after acquiring an additional 373 shares during the last quarter. Finally, First Republic Investment Management Inc. lifted its holdings in shares of Macerich by 7.3% during the first quarter. First Republic Investment Management Inc. now owns 5,517 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 375 shares in the last quarter. Hedge funds and other institutional investors own 97.65% of the company’s stock.
In other Macerich news, CEO Hern Thomas E. O acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was acquired at an average price of $28.02 per share, for a total transaction of $140,100.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrea M. Stephen purchased 10,000 shares of the stock in a transaction on Monday, June 24th. The shares were purchased at an average price of $32.93 per share, with a total value of $329,300.00. Following the acquisition, the director now owns 16,580 shares in the company, valued at approximately $545,979.40. The disclosure for this purchase can be found here. Insiders purchased 67,924 shares of company stock worth $2,123,084 over the last 90 days. 1.73% of the stock is currently owned by corporate insiders.
MAC has been the subject of several research analyst reports. Barclays set a $33.00 price target on Macerich and gave the company a “hold” rating in a report on Tuesday. Citigroup decreased their target price on Macerich from $46.00 to $34.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Zacks Investment Research upgraded Macerich from a “sell” rating to a “hold” rating and set a $30.00 target price on the stock in a research note on Monday, August 26th. SunTrust Banks dropped their price target on Macerich from $43.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, August 23rd. Finally, Morgan Stanley decreased their price objective on Macerich from $30.00 to $26.50 and set an “underweight” rating for the company in a report on Tuesday, September 3rd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $40.96.
Macerich stock traded down $1.51 during mid-day trading on Thursday, reaching $32.38. The company had a trading volume of 79,622 shares, compared to its average volume of 1,501,423. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.87. Macerich Co has a 52 week low of $27.54 and a 52 week high of $57.38. The company has a 50 day moving average of $30.37 and a 200-day moving average of $37.05. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 8.42, a PEG ratio of 4.05 and a beta of 0.76.
Macerich (NYSE:MAC) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.02. Macerich had a net margin of 11.59% and a return on equity of 3.49%. The firm had revenue of $227.97 million during the quarter, compared to the consensus estimate of $213.18 million. During the same period last year, the firm posted $0.96 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. On average, analysts predict that Macerich Co will post 3.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Monday, August 19th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $3.00 annualized dividend and a dividend yield of 9.26%. Macerich’s dividend payout ratio (DPR) is presently 77.92%.
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 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.
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