Daiwa Securities Group Inc. Acquires 1,873,034 Shares of Macerich Co (MAC)

Daiwa Securities Group Inc. lifted its position in shares of Macerich Co (NYSE:MAC) by 9,289.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,893,198 shares of the real estate investment trust’s stock after acquiring an additional 1,873,034 shares during the quarter. Daiwa Securities Group Inc. owned 1.34% of Macerich worth $81,938,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MAC. Federated Investors Inc. PA acquired a new position in shares of Macerich during the 3rd quarter worth about $48,000. Meeder Asset Management Inc. raised its position in shares of Macerich by 1,480.2% during the 4th quarter. Meeder Asset Management Inc. now owns 1,754 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 1,643 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of Macerich during the 3rd quarter worth about $205,000. Mackenzie Financial Corp acquired a new position in shares of Macerich during the 3rd quarter worth about $208,000. Finally, Virtu Financial LLC acquired a new position in shares of Macerich during the 3rd quarter worth about $267,000. 98.53% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently weighed in on MAC shares. Mizuho set a $51.00 price target on shares of Macerich and gave the stock a “buy” rating in a research report on Sunday, December 16th. BMO Capital Markets set a $56.00 price target on shares of Macerich and gave the stock a “buy” rating in a research report on Thursday, December 13th. BTIG Research reduced their price target on shares of Macerich to $63.00 and set a “buy” rating for the company in a research report on Monday, November 26th. Jefferies Financial Group restated a “hold” rating and set a $52.00 price target on shares of Macerich in a research report on Monday, December 17th. Finally, Barclays reiterated a “hold” rating and issued a $54.00 price objective on shares of Macerich in a report on Sunday, October 14th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $58.93.

MAC stock opened at $43.24 on Monday. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 2.41 and a beta of 0.92. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.99 and a quick ratio of 0.96. Macerich Co has a 12 month low of $40.90 and a 12 month high of $61.91.

Macerich (NYSE:MAC) last released its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported $1.09 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.09. The company had revenue of $246.90 million during the quarter, compared to the consensus estimate of $228.64 million. Macerich had a net margin of 6.25% and a return on equity of 2.41%. Macerich’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 EPS. On average, sell-side analysts expect that Macerich Co will post 3.68 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 21st will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, February 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 6.94%. Macerich’s dividend payout ratio is currently 77.92%.

In other news, Director Daniel J. Hirsch purchased 4,500 shares of the business’s stock in a transaction dated Tuesday, December 18th. The stock was acquired at an average price of $44.63 per share, for a total transaction of $200,835.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Arthur M. Coppola sold 105,574 shares of the firm’s stock in a transaction that occurred on Tuesday, December 11th. The stock was sold at an average price of $49.79, for a total transaction of $5,256,529.46. The disclosure for this sale can be found here. 3.76% of the stock is owned by company insiders.

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Macerich Company Profile

Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 52 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.

Further Reading: How Do You Calculate Return on Equity (ROE)?

Institutional Ownership by Quarter for Macerich (NYSE:MAC)

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