The Macerich Company (NYSE:MAC) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its position in shares of The Macerich Company (NYSE:MAC) by 38.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,900 shares of the real estate investment trust’s stock after selling 18,416 shares during the period. BNP Paribas Financial Markets’ holdings in Macerich were worth $596,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its position in Macerich by 15.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 55,118 shares of the real estate investment trust’s stock worth $1,098,000 after acquiring an additional 7,314 shares during the period. Blue Trust Inc. increased its position in Macerich by 68.8% in the 4th quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 1,064 shares during the period. KBC Group NV increased its position in Macerich by 92.1% in the 4th quarter. KBC Group NV now owns 11,814 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 5,664 shares during the period. Vert Asset Management LLC increased its position in Macerich by 16.3% in the 4th quarter. Vert Asset Management LLC now owns 101,486 shares of the real estate investment trust’s stock worth $2,022,000 after buying an additional 14,228 shares during the period. Finally, Murphy Pohlad Asset Management LLC increased its position in shares of Macerich by 1.7% during the fourth quarter. Murphy Pohlad Asset Management LLC now owns 117,460 shares of the real estate investment trust’s stock valued at $2,340,000 after purchasing an additional 2,000 shares during the period. 87.38% of the stock is owned by institutional investors and hedge funds.

Macerich Stock Performance

Shares of NYSE MAC opened at $14.89 on Friday. The Macerich Company has a 52 week low of $12.48 and a 52 week high of $22.27. The stock has a market capitalization of $3.76 billion, a PE ratio of 38.17, a price-to-earnings-growth ratio of 0.71 and a beta of 2.13. The stock has a 50 day moving average price of $15.40 and a 200 day moving average price of $18.33. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92.

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

Macerich Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be paid 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 4.57%. Macerich’s dividend payout ratio (DPR) is presently -158.14%.

Wall Street Analysts Forecast Growth

MAC has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their price target on Macerich from $22.00 to $18.00 and set an “underweight” rating on the stock in a research note on Monday, March 10th. Scotiabank dropped their target price on Macerich from $21.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group dropped their price objective on Macerich from $16.70 to $14.40 and set a “sell” rating for the company in a report on Monday, March 10th. Piper Sandler upgraded Macerich from an “underweight” rating to a “neutral” rating and set a $16.00 price objective for the company in a report on Thursday. Finally, Morgan Stanley lowered their price target on Macerich from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Tuesday, April 1st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Macerich currently has a consensus rating of “Hold” and an average price target of $18.95.

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.