Citigroup Inc. Lowers Stake in Macerich Company (The) $MAC

Citigroup Inc. decreased its position in shares of Macerich Company (The) (NYSE:MAC) by 15.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 605,412 shares of the real estate investment trust’s stock after selling 111,011 shares during the period. Citigroup Inc. owned 0.24% of Macerich worth $11,018,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MAC. Nordea Investment Management AB acquired a new position in Macerich in the third quarter valued at $5,326,000. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in Macerich by 35.0% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 724,233 shares of the real estate investment trust’s stock valued at $13,181,000 after buying an additional 187,900 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Macerich by 39.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 388,219 shares of the real estate investment trust’s stock valued at $7,066,000 after acquiring an additional 109,413 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Macerich by 1,110.2% during the 3rd quarter. SG Americas Securities LLC now owns 185,832 shares of the real estate investment trust’s stock worth $3,382,000 after acquiring an additional 170,477 shares during the period. Finally, American Century Companies Inc. purchased a new position in shares of Macerich during the 2nd quarter worth about $18,368,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Trading Down 1.2%

Shares of MAC opened at $20.49 on Friday. Macerich Company has a 12 month low of $12.48 and a 12 month high of $20.93. The stock’s 50-day moving average is $18.87 and its two-hundred day moving average is $18.06. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.02 and a quick ratio of 1.03. The stock has a market cap of $5.26 billion, a PE ratio of -26.61, a P/E/G ratio of 1.40 and a beta of 2.16.

Macerich (NYSE:MAC) last announced its earnings results on Wednesday, February 18th. The real estate investment trust reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.43 by ($0.50). The company had revenue of $261.70 million for the quarter, compared to analysts’ expectations of $260.48 million. Macerich had a negative net margin of 19.44% and a negative return on equity of 7.32%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 earnings per share. Equities analysts forecast that Macerich Company will post 1.55 earnings per share for the current fiscal year.

Macerich Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be paid a $0.17 dividend. The ex-dividend date is Monday, March 16th. This represents a $0.68 annualized dividend and a dividend yield of 3.3%. Macerich’s dividend payout ratio is -88.31%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating and set a $21.00 price objective on shares of Macerich in a research note on Monday, December 15th. Mizuho set a $21.00 price target on Macerich in a research report on Friday, January 9th. Citigroup upped their price target on Macerich from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday. KeyCorp set a $25.00 price objective on Macerich and gave the company an “overweight” rating in a research note on Monday, February 23rd. Finally, Scotiabank boosted their target price on Macerich from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, November 13th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.26.

Macerich Profile

The Macerich Company (NYSE: MAC) is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich’s core activities encompass property and asset management, leasing, marketing and redevelopment services.