Charles Schwab Investment Management Inc. Boosts Holdings in Macerich Company (The) $MAC

Charles Schwab Investment Management Inc. boosted its position in Macerich Company (The) (NYSE:MAC) by 0.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,997,319 shares of the real estate investment trust’s stock after purchasing an additional 5,350 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.98% of Macerich worth $80,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of Macerich by 11.6% in the second quarter. JPMorgan Chase & Co. now owns 6,652,710 shares of the real estate investment trust’s stock worth $107,641,000 after purchasing an additional 694,103 shares during the period. Geode Capital Management LLC boosted its stake in Macerich by 2.3% during the second quarter. Geode Capital Management LLC now owns 6,498,679 shares of the real estate investment trust’s stock valued at $105,160,000 after buying an additional 145,906 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Macerich by 40.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,130,323 shares of the real estate investment trust’s stock worth $105,258,000 after buying an additional 1,754,466 shares in the last quarter. Northern Trust Corp increased its stake in Macerich by 3.6% in the 1st quarter. Northern Trust Corp now owns 4,357,185 shares of the real estate investment trust’s stock worth $74,813,000 after acquiring an additional 151,295 shares during the last quarter. Finally, PGGM Investments increased its stake in Macerich by 15.9% in the 2nd quarter. PGGM Investments now owns 4,022,858 shares of the real estate investment trust’s stock worth $65,090,000 after acquiring an additional 552,194 shares during the last quarter. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Macerich Price Performance

Shares of Macerich stock opened at $17.36 on Friday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.76 and a current ratio of 0.76. Macerich Company has a 52-week low of $12.48 and a 52-week high of $22.27. The company has a fifty day moving average of $17.31 and a 200-day moving average of $16.98. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of -9.92, a price-to-earnings-growth ratio of 2.96 and a beta of 2.25.

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

Macerich Dividend Announcement

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

Analysts Set New Price Targets

MAC has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Macerich in a research report on Wednesday, October 8th. Bank of America raised shares of Macerich from a “neutral” rating to a “buy” rating and raised their target price for the company from $19.00 to $23.00 in a research note on Friday, September 26th. JPMorgan Chase & Co. lifted their target price on shares of Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Wednesday, August 27th. Evercore ISI increased their price target on shares of Macerich from $18.00 to $20.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Finally, Wall Street Zen cut shares of Macerich from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.95.

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.