Charles Schwab Investment Management Inc. Acquires 113,128 Shares of The Macerich Company (NYSE:MAC)

Charles Schwab Investment Management Inc. grew its holdings in The Macerich Company (NYSE:MAC) by 2.4% in the third quarter, Holdings Channel reports. The firm owned 4,801,369 shares of the real estate investment trust’s stock after buying an additional 113,128 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Macerich were worth $87,577,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MAC. Price T Rowe Associates Inc. MD increased its holdings in Macerich by 5.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 147,656 shares of the real estate investment trust’s stock worth $2,545,000 after buying an additional 7,957 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Macerich by 158.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 131,487 shares of the real estate investment trust’s stock valued at $2,201,000 after purchasing an additional 80,541 shares during the last quarter. Vanderbilt University lifted its position in Macerich by 121.5% during the second quarter. Vanderbilt University now owns 80,095 shares of the real estate investment trust’s stock valued at $1,237,000 after purchasing an additional 43,942 shares during the period. Murphy Pohlad Asset Management LLC boosted its holdings in Macerich by 297.7% in the second quarter. Murphy Pohlad Asset Management LLC now owns 110,560 shares of the real estate investment trust’s stock worth $1,707,000 after purchasing an additional 82,760 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its position in Macerich by 1.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 108,500 shares of the real estate investment trust’s stock worth $1,675,000 after purchasing an additional 1,500 shares during the period. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Stock Performance

MAC opened at $21.19 on Thursday. The company has a 50 day simple moving average of $18.54 and a two-hundred day simple moving average of $16.45. 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 market cap of $4.78 billion, a P/E ratio of 54.33, a PEG ratio of 0.69 and a beta of 2.50. The Macerich Company has a 1-year low of $10.86 and a 1-year high of $21.71.

Macerich (NYSE:MAC) last issued its earnings results 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 during 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 company’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 EPS. Equities analysts forecast that The Macerich Company will post 1.59 earnings per share for the current fiscal year.

Macerich Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Compass Point raised their price target on Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Bank of America raised their target price on Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Evercore ISI increased their price objective on shares of 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 lowered shares of Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group increased their price target on shares of Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a research report on Thursday, September 19th. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $16.40.

Macerich Profile

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.