B&I Capital AG Decreases Position in Macerich Company (The) $MAC

B&I Capital AG trimmed its holdings in shares of Macerich Company (The) (NYSE:MAC) by 12.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 375,570 shares of the real estate investment trust’s stock after selling 53,130 shares during the period. Macerich comprises approximately 2.1% of B&I Capital AG’s portfolio, making the stock its 23rd largest position. B&I Capital AG owned about 0.15% of Macerich worth $6,077,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MAC. Fifth Third Bancorp lifted its stake in Macerich by 47.7% in the second quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 972 shares during the period. Quarry LP increased its position in shares of Macerich by 2,691.6% during the first quarter. Quarry LP now owns 3,322 shares of the real estate investment trust’s stock valued at $57,000 after buying an additional 3,203 shares during the period. Inspire Advisors LLC bought a new position in Macerich in the first quarter worth about $178,000. PharVision Advisers LLC purchased a new stake in Macerich in the first quarter worth about $179,000. Finally, State of Wyoming boosted its position in Macerich by 376.8% during the 1st quarter. State of Wyoming now owns 13,140 shares of the real estate investment trust’s stock valued at $226,000 after acquiring an additional 10,384 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Stock Up 1.4%

MAC stock opened at $17.25 on Thursday. The stock has a market capitalization of $4.42 billion, a P/E ratio of -9.86, a P/E/G ratio of 2.96 and a beta of 2.25. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.76 and a quick ratio of 0.76. Macerich Company has a 1-year low of $12.48 and a 1-year high of $22.27. The business has a fifty day moving average price of $17.33 and a 200-day moving average price of $16.96.

Macerich (NYSE:MAC) last released its quarterly earnings data on Wednesday, November 5th. The real estate investment trust reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The business had revenue of $253.26 million for the quarter, compared to analysts’ expectations of $246.77 million. During the same period last year, the business earned $0.38 earnings per share. The company’s quarterly revenue was up 15.0% on a year-over-year basis. Equities analysts forecast that Macerich Company will post 1.55 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Stockholders of record on Monday, December 15th will be paid a $0.17 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.9%. Macerich’s payout ratio is currently -42.77%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MAC shares. Wall Street Zen cut Macerich from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. raised their target price on shares of Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Wednesday, August 27th. Scotiabank boosted their price target on Macerich from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Macerich in a report on Wednesday, October 8th. Finally, Bank of America upgraded shares of Macerich from a “neutral” rating to a “buy” rating and upped their price target for the stock from $19.00 to $23.00 in a research note on Friday, September 26th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Macerich presently has a consensus rating of “Hold” and an average price target of $19.95.

Macerich 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.