TCTC Holdings LLC Trims Holdings in The Macerich Company (NYSE:MAC)

TCTC Holdings LLC decreased its stake in shares of The Macerich Company (NYSE:MAC) by 50.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 20,000 shares of the real estate investment trust’s stock after selling 20,000 shares during the period. TCTC Holdings LLC’s holdings in Macerich were worth $365,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Blue Trust Inc. lifted its holdings in shares of Macerich by 152.2% in the third quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 933 shares in the last quarter. Quest Partners LLC purchased a new stake in Macerich in the 2nd quarter worth approximately $50,000. GAMMA Investing LLC boosted its holdings in Macerich by 40.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 933 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Macerich during the 2nd quarter valued at $129,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Macerich by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 2,161 shares during the period. Institutional investors own 87.38% of the company’s stock.

Macerich Trading Up 1.1 %

Shares of MAC stock opened at $19.52 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.86. The business has a 50-day moving average of $17.62 and a 200 day moving average of $16.05. The stock has a market capitalization of $4.22 billion, a PE ratio of 50.05, a P/E/G ratio of 0.62 and a beta of 2.50. The Macerich Company has a 1-year low of $9.90 and a 1-year high of $20.27.

Macerich (NYSE:MAC) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.90). Macerich had a return on equity of 3.15% and a net margin of 8.98%. The firm had revenue of $220.20 million during the quarter, compared to the consensus estimate of $208.54 million. During the same quarter in the prior year, the business posted $0.44 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, sell-side analysts anticipate that The Macerich Company will post 1.61 earnings per share for the current year.

Macerich Dividend Announcement

The business also recently declared 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. This represents a $0.68 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Tuesday, November 12th. Macerich’s dividend payout ratio (DPR) is currently 174.36%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MAC. StockNews.com lowered Macerich from a “hold” rating to a “sell” rating in a research note on Thursday. Bank of America boosted their price objective on Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Compass Point lifted their target price on shares of Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday. Evercore ISI increased their price target on shares of Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Finally, The Goldman Sachs Group lifted their price objective on shares of Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a report on Thursday, September 19th. Five research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $16.40.

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.