Mackay Shields LLC Acquires 15,648 Shares of Macerich Co (NYSE:MAC)

Mackay Shields LLC boosted its holdings in shares of Macerich Co (NYSE:MAC) by 94.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,209 shares of the real estate investment trust’s stock after purchasing an additional 15,648 shares during the quarter. Mackay Shields LLC’s holdings in Macerich were worth $1,017,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Cornerstone Advisors Inc. lifted its position in shares of Macerich by 183.9% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,093 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 708 shares during the period. Bessemer Group Inc. lifted its position in shares of Macerich by 1,253.3% in the 2nd quarter. Bessemer Group Inc. now owns 1,218 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 1,128 shares during the period. Meeder Asset Management Inc. lifted its position in shares of Macerich by 49.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,552 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 841 shares during the period. CSat Investment Advisory L.P. lifted its position in shares of Macerich by 69.1% in the 2nd quarter. CSat Investment Advisory L.P. now owns 2,611 shares of the real estate investment trust’s stock worth $88,000 after acquiring an additional 1,067 shares during the period. Finally, Quadrant Capital Group LLC lifted its position in shares of Macerich by 56.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 3,106 shares of the real estate investment trust’s stock worth $91,000 after acquiring an additional 1,126 shares during the period.

In related news, CEO Hern Thomas E. O bought 5,000 shares of the business’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 purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.73% of the stock is owned by company insiders.

A number of analysts have commented on the company. BMO Capital Markets downgraded Macerich from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $40.00 to $33.00 in a research report on Thursday, September 26th. SunTrust Banks reduced their price objective on Macerich from $43.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, August 23rd. ValuEngine upgraded Macerich from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded Macerich from a “sell” rating to a “hold” rating and set a $30.00 price objective for the company in a research report on Monday, August 26th. Finally, Citigroup reduced their price objective on Macerich from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, September 27th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $39.19.

Macerich stock opened at $27.80 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $3.86 billion, a PE ratio of 7.22, a price-to-earnings-growth ratio of 4.24 and a beta of 0.73. Macerich Co has a one year low of $26.87 and a one year high of $51.08. The business has a 50 day simple moving average of $28.61 and a 200 day simple moving average of $32.81.

Macerich (NYSE:MAC) last posted its earnings results on Thursday, October 31st. The real estate investment trust reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.02). The company had revenue of $214.30 million for the quarter, compared to the consensus estimate of $216.69 million. Macerich had a return on equity of 2.69% and a net margin of 8.76%. Macerich’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 EPS. Equities analysts anticipate that Macerich Co will post 3.56 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 8th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.00 annualized dividend and a dividend yield of 10.79%. Macerich’s dividend payout ratio (DPR) is presently 77.92%.

About Macerich

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.

Recommended Story: How to find the components of the quick ratio

Want to see what other hedge funds are holding MAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macerich Co (NYSE:MAC).

Institutional Ownership by Quarter for Macerich (NYSE:MAC)

Receive News & Ratings for Macerich Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Macerich and related companies with MarketBeat.com's FREE daily email newsletter.