Amalgamated Bank Has $1.16 Million Holdings in The Macerich Company (NYSE:MAC)

Amalgamated Bank decreased its stake in The Macerich Company (NYSE:MAC) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,668 shares of the real estate investment trust’s stock after selling 2,270 shares during the quarter. Amalgamated Bank’s holdings in Macerich were worth $1,161,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MAC. Janney Montgomery Scott LLC boosted its stake in shares of Macerich by 47.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 33,768 shares of the real estate investment trust’s stock valued at $582,000 after purchasing an additional 10,790 shares in the last quarter. Swiss National Bank lifted its holdings in Macerich by 0.3% during the 1st quarter. Swiss National Bank now owns 425,415 shares of the real estate investment trust’s stock valued at $7,330,000 after purchasing an additional 1,200 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Macerich by 1,845.1% in the first quarter. Russell Investments Group Ltd. now owns 1,168,864 shares of the real estate investment trust’s stock valued at $20,133,000 after buying an additional 1,108,770 shares in the last quarter. ProShare Advisors LLC grew its stake in Macerich by 7.4% during the first quarter. ProShare Advisors LLC now owns 43,585 shares of the real estate investment trust’s stock worth $751,000 after buying an additional 3,011 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Macerich during the first quarter worth approximately $194,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Trading Down 1.2 %

MAC stock opened at $19.14 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a twelve month low of $10.61 and a twelve month high of $20.40. The company has a market cap of $4.32 billion, a P/E ratio of 49.08, a PEG ratio of 0.66 and a beta of 2.50. The business has a fifty day moving average of $17.86 and a 200-day moving average of $16.13.

Macerich (NYSE:MAC) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.90). The firm had revenue of $220.20 million for the quarter, compared to the consensus estimate of $208.54 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 earnings per share. As a group, equities research analysts expect that The Macerich Company will post 1.6 EPS for the current year.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.68 annualized dividend and a yield of 3.55%. Macerich’s dividend payout ratio is currently 174.36%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MAC. Bank of America boosted their target price on Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Evercore ISI boosted their price objective on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. StockNews.com cut Macerich from a “hold” rating to a “sell” 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. Finally, Compass Point increased their price objective on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Macerich has a consensus rating of “Hold” and a consensus price target of $16.40.

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.