Macerich Company (The) $MAC Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd lessened its position in shares of Macerich Company (The) (NYSE:MAC) by 18.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,733 shares of the real estate investment trust’s stock after selling 9,278 shares during the quarter. IFM Investors Pty Ltd’s holdings in Macerich were worth $659,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in Macerich during the fourth quarter worth about $45,000. State of Wyoming acquired a new position in shares of Macerich during the 4th quarter worth approximately $55,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Macerich by 4.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,619,222 shares of the real estate investment trust’s stock worth $32,255,000 after purchasing an additional 72,849 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Macerich by 12.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 352,623 shares of the real estate investment trust’s stock valued at $7,024,000 after buying an additional 38,623 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in Macerich during the 4th quarter valued at $90,000. 87.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MAC. Mizuho raised Macerich from a “neutral” rating to an “outperform” rating and cut their price target for the stock from $22.00 to $18.00 in a report on Tuesday, June 10th. Evercore ISI boosted their target price on shares of Macerich from $18.00 to $20.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Wall Street Zen cut shares of Macerich from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Scotiabank boosted their price objective on shares of Macerich from $16.00 to $18.00 and gave the company a “sector perform” rating in a research report on Thursday, August 28th. Finally, Truist Financial upped their price objective on shares of Macerich from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, June 9th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $19.80.

Macerich Stock Performance

Shares of MAC stock opened at $17.13 on Wednesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of -9.79, a price-to-earnings-growth ratio of 3.32 and a beta of 2.27. Macerich Company has a one year low of $12.48 and a one year high of $22.27. The company has a 50 day moving average price of $17.52 and a 200 day moving average price of $16.37.

Macerich (NYSE:MAC) last announced its quarterly earnings data on Monday, August 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). The company had revenue of $249.79 million for the quarter, compared to analysts’ expectations of $245.19 million. Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 earnings per share. Sell-side analysts anticipate that Macerich Company will post 1.55 EPS for the current year.

Macerich Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 9th were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, September 9th. This represents a $0.68 annualized dividend and a yield of 4.0%. Macerich’s dividend payout ratio is currently -38.86%.

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.