Everence Capital Management Inc. Trims Stock Position in The Macerich Company (NYSE:MAC)

Everence Capital Management Inc. decreased its holdings in The Macerich Company (NYSE:MAC) by 64.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,680 shares of the real estate investment trust’s stock after selling 21,600 shares during the quarter. Everence Capital Management Inc.’s holdings in Macerich were worth $233,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in Macerich by 36.5% in the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock valued at $87,000 after purchasing an additional 1,174 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Macerich by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,426,909 shares of the real estate investment trust’s stock valued at $99,004,000 after purchasing an additional 34,982 shares during the last quarter. Vestcor Inc grew its stake in shares of Macerich by 91.4% during the 3rd quarter. Vestcor Inc now owns 193,777 shares of the real estate investment trust’s stock valued at $3,534,000 after buying an additional 92,551 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Macerich by 0.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 314,000 shares of the real estate investment trust’s stock worth $5,727,000 after buying an additional 2,322 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Macerich by 0.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 275,731 shares of the real estate investment trust’s stock worth $5,029,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 87.38% of the company’s stock.

Insider Buying and Selling at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the sale, the director now owns 83,479 shares in the company, valued at $1,718,832.61. This represents a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.53% of the stock is currently owned by insiders.

Macerich Stock Down 0.2 %

Shares of NYSE MAC opened at $20.38 on Thursday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The Macerich Company has a 1 year low of $12.99 and a 1 year high of $22.27. The stock’s 50-day simple moving average is $20.25 and its 200-day simple moving average is $17.68. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 52.26, a PEG ratio of 0.75 and a beta of 2.51.

Macerich (NYSE:MAC) last issued its quarterly earnings data 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). The business had revenue of $220.20 million for the quarter, compared to analyst estimates of $208.54 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. Macerich’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 EPS. As a group, equities analysts anticipate that The Macerich Company will post 1.56 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a $0.17 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.68 annualized dividend and a yield of 3.34%. Macerich’s dividend payout ratio is presently 174.36%.

Analyst Ratings Changes

A number of research firms have issued reports on MAC. The Goldman Sachs Group boosted their price target on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft began coverage on shares of Macerich in a research report on Tuesday, December 17th. They set a “hold” rating and a $22.00 target price for the company. StockNews.com cut shares of Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Jefferies Financial Group raised shares of Macerich from a “hold” rating to a “buy” rating and increased their price objective for the stock from $19.00 to $23.00 in a research report on Thursday, January 2nd. Finally, Bank of America lifted their target price on shares of Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Macerich currently has an average rating of “Hold” and an average target price of $19.24.

Macerich Company 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.