Gotham Asset Management LLC Has $256,000 Stock Holdings in The Macerich Company (NYSE:MAC)

Gotham Asset Management LLC grew its stake in The Macerich Company (NYSE:MAC) by 8.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,830 shares of the real estate investment trust’s stock after buying an additional 997 shares during the period. Gotham Asset Management LLC’s holdings in Macerich were worth $256,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MAC. Perpetual Ltd increased its stake in shares of Macerich by 24.3% in the fourth quarter. Perpetual Ltd now owns 55,356 shares of the real estate investment trust’s stock valued at $1,103,000 after buying an additional 10,830 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Macerich by 15.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 55,118 shares of the real estate investment trust’s stock valued at $1,098,000 after buying an additional 7,314 shares during the period. Blue Trust Inc. increased its stake in shares of Macerich by 68.8% in the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 1,064 shares during the period. KBC Group NV grew its stake in Macerich by 92.1% during the fourth quarter. KBC Group NV now owns 11,814 shares of the real estate investment trust’s stock worth $235,000 after purchasing an additional 5,664 shares during the period. Finally, Vert Asset Management LLC grew its stake in Macerich by 16.3% during the fourth quarter. Vert Asset Management LLC now owns 101,486 shares of the real estate investment trust’s stock worth $2,022,000 after purchasing an additional 14,228 shares during the period. Institutional investors and hedge funds own 87.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on MAC. Scotiabank decreased their target price on Macerich from $21.00 to $16.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their target price on Macerich from $22.00 to $18.00 and set an “underweight” rating for the company in a research note on Monday, March 10th. Truist Financial raised Macerich from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Thursday, April 10th. Piper Sandler decreased their target price on Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, February 28th. Finally, The Goldman Sachs Group reduced their price objective on Macerich from $16.70 to $14.40 and set a “sell” rating for the company in a research note on Monday, March 10th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.95.

Macerich Stock Down 0.9%

MAC stock opened at $15.72 on Wednesday. The Macerich Company has a twelve month low of $12.48 and a twelve month high of $22.27. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The stock’s 50 day moving average is $15.50 and its 200-day moving average is $18.40. The firm has a market capitalization of $3.97 billion, a PE ratio of 40.31, a P/E/G ratio of 0.71 and a beta of 2.13.

Macerich (NYSE:MAC) last posted its earnings results on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Macerich had a return on equity of 3.15% and a net margin of 8.98%. The company had revenue of $249.22 million for the quarter, compared to analyst estimates of $221.61 million. During the same quarter last year, the company earned $0.33 earnings per share. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. Sell-side analysts expect that The Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 4.33%. Macerich’s dividend payout ratio (DPR) is currently -158.14%.

About Macerich

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.