Macerich Company (The) (NYSE:MAC) Position Increased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. raised its holdings in shares of Macerich Company (The) (NYSE:MAC) by 3.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 367,295 shares of the real estate investment trust’s stock after buying an additional 12,327 shares during the period. Asset Management One Co. Ltd. owned about 0.15% of Macerich worth $6,306,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. CIBC Private Wealth Group LLC boosted its stake in Macerich by 9.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,787 shares of the real estate investment trust’s stock worth $118,000 after purchasing an additional 512 shares during the period. M&T Bank Corp boosted its stake in Macerich by 2.8% in the 4th quarter. M&T Bank Corp now owns 20,228 shares of the real estate investment trust’s stock worth $403,000 after purchasing an additional 543 shares during the period. Dorsey & Whitney Trust CO LLC boosted its stake in Macerich by 5.7% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 12,234 shares of the real estate investment trust’s stock worth $244,000 after purchasing an additional 665 shares during the period. Townsquare Capital LLC boosted its stake in Macerich by 7.0% in the 4th quarter. Townsquare Capital LLC now owns 14,395 shares of the real estate investment trust’s stock worth $287,000 after purchasing an additional 947 shares during the period. Finally, Gotham Asset Management LLC boosted its stake in Macerich by 8.4% in the 4th quarter. Gotham Asset Management LLC now owns 12,830 shares of the real estate investment trust’s stock worth $256,000 after purchasing an additional 997 shares during the period. 87.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MAC shares. Scotiabank lowered their price target on shares of Macerich from $21.00 to $16.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 23rd. Piper Sandler upgraded shares of Macerich from an “underweight” rating to a “neutral” rating and set a $16.00 price target on the stock in a report on Thursday, May 22nd. Mizuho upgraded shares of Macerich from a “neutral” rating to an “outperform” rating and lowered their price target for the company from $22.00 to $18.00 in a report on Tuesday, June 10th. JPMorgan Chase & Co. lowered their price target on shares of Macerich from $22.00 to $18.00 and set an “underweight” rating on the stock in a report on Monday, March 10th. Finally, Truist Financial boosted their price target on shares of Macerich from $19.00 to $21.00 and gave the company a “buy” rating in a report on Monday, June 9th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, Macerich presently has a consensus rating of “Hold” and an average price target of $18.78.

Macerich Stock Down 0.5%

MAC stock opened at $16.17 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.91. Macerich Company has a 1 year low of $12.48 and a 1 year high of $22.27. The company has a fifty day simple moving average of $15.56 and a 200 day simple moving average of $17.56. The firm has a market cap of $4.08 billion, a PE ratio of -37.59, a PEG ratio of 5.29 and a beta of 2.17.

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 the consensus estimate of $0.31 by $0.02. Macerich had a negative net margin of 12.26% and a negative return on equity of 4.37%. The business had revenue of $249.22 million during the quarter, compared to analyst estimates of $221.61 million. During the same quarter in the previous year, the business earned $0.33 EPS. Macerich’s quarterly revenue was up 19.3% compared to the same quarter last year. Sell-side analysts anticipate that Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date was Tuesday, June 3rd. Macerich’s dividend payout ratio is -158.14%.

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.