Daiwa Securities Group Inc. Has $1.32 Million Holdings in The Macerich Company (NYSE:MAC)

Daiwa Securities Group Inc. boosted its stake in The Macerich Company (NYSE:MAC) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,080 shares of the real estate investment trust’s stock after buying an additional 4,676 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Macerich were worth $1,315,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Algert Global LLC increased its position in shares of Macerich by 5.5% during the 3rd quarter. Algert Global LLC now owns 167,621 shares of the real estate investment trust’s stock worth $3,057,000 after purchasing an additional 8,780 shares in the last quarter. Cerity Partners LLC grew its stake in Macerich by 21.9% during the third quarter. Cerity Partners LLC now owns 31,368 shares of the real estate investment trust’s stock worth $572,000 after buying an additional 5,642 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Macerich by 32.3% during the third quarter. Citigroup Inc. now owns 359,069 shares of the real estate investment trust’s stock worth $6,549,000 after buying an additional 87,611 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Macerich by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,801,369 shares of the real estate investment trust’s stock valued at $87,577,000 after acquiring an additional 113,128 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Macerich in the 3rd quarter worth approximately $1,596,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MAC. Compass Point raised their price target on Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a report on Thursday, September 19th. Evercore ISI upped their price target on shares of Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. StockNews.com cut shares of Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, Bank of America upped their target price on shares of Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.40.

Macerich Trading Up 0.3 %

MAC opened at $21.21 on Friday. The Macerich Company has a fifty-two week low of $11.30 and a fifty-two week high of $21.71. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 54.39, a price-to-earnings-growth ratio of 0.72 and a beta of 2.50. 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 firm has a 50 day simple moving average of $18.71 and a 200 day simple moving average of $16.52.

Macerich (NYSE:MAC) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). Macerich had a net margin of 8.98% and a return on equity of 3.15%. The company had revenue of $220.20 million during the quarter, compared to analyst estimates of $208.54 million. During the same period last year, the company earned $0.44 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, sell-side analysts anticipate that The Macerich Company will post 1.59 earnings per share for the current year.

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.68 annualized dividend and a dividend yield of 3.21%. Macerich’s payout ratio is currently 174.36%.

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.