Karp Capital Management Corp Purchase New Holding in Macerich Co (MAC)

Karp Capital Management Corp Purchase New Holding in Macerich Co (MAC)

Karp Capital Management Corp bought a new position in shares of Macerich Co (NYSE:MAC) during the first quarter, Holdings Channel reports. The fund bought 37,079 shares of the real estate investment trust’s stock, valued at approximately $2,388,000.

A number of other hedge funds have also bought and sold shares of the stock. ING Groep NV boosted its stake in Macerich by 56.3% in the fourth quarter. ING Groep NV now owns 6,952 shares of the real estate investment trust’s stock worth $481,000 after buying an additional 2,505 shares during the last quarter. Cadence Capital Management LLC boosted its stake in Macerich by 84.9% in the fourth quarter. Cadence Capital Management LLC now owns 14,885 shares of the real estate investment trust’s stock worth $1,054,000 after buying an additional 6,834 shares during the last quarter. Ffcm LLC acquired a new stake in Macerich during the fourth quarter worth $542,000. Russell Investments Group Ltd. acquired a new stake in Macerich during the fourth quarter worth $7,170,000. Finally, Verition Fund Management LLC boosted its stake in Macerich by 68.1% in the third quarter. Verition Fund Management LLC now owns 10,887 shares of the real estate investment trust’s stock worth $880,000 after buying an additional 4,410 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Shares of Macerich Co (NYSE:MAC) traded down 0.24% during trading on Wednesday, hitting $57.41. 2,830,595 shares of the stock were exchanged. The firm has a market capitalization of $8.14 billion, a P/E ratio of 50.36 and a beta of 0.79. The firm has a 50 day moving average price of $61.67 and a 200 day moving average price of $66.26. Macerich Co has a 52 week low of $56.42 and a 52 week high of $94.51.

Macerich (NYSE:MAC) last posted its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Macerich had a net margin of 49.65% and a return on equity of 11.24%. The company had revenue of $219.90 million for the quarter, compared to the consensus estimate of $222.65 million. During the same period last year, the company posted $0.87 EPS. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. Analysts forecast that Macerich Co will post $0.80 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Friday, May 5th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.95%. Macerich’s payout ratio is currently 83.04%.

A number of analysts recently weighed in on the stock. Stifel Nicolaus lowered their target price on shares of Macerich from $76.00 to $74.00 and set a “hold” rating on the stock in a research note on Tuesday, February 7th. Jefferies Group LLC restated a “hold” rating and issued a $74.00 price target on shares of Macerich in a research report on Tuesday, February 7th. Royal Bank of Canada restated a “buy” rating and issued a $73.00 price target on shares of Macerich in a research report on Wednesday, February 22nd. Barclays PLC reduced their price target on shares of Macerich from $66.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 19th. Finally, Zacks Investment Research upgraded shares of Macerich from a “sell” rating to a “hold” rating in a research report on Wednesday, April 19th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $73.71.

Macerich Company Profile

The Macerich Company is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company owns ownership interests in, The Macerich Partnership, L.P.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “MAC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding MAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Macerich Co (NYSE:MAC).

Related posts

Leave a Comment