American Century Companies Inc. Acquires 182,291 Shares of Macerich Company (The) $MAC

American Century Companies Inc. raised its holdings in Macerich Company (The) (NYSE:MAC) by 16.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,317,513 shares of the real estate investment trust’s stock after purchasing an additional 182,291 shares during the period. American Century Companies Inc. owned 0.51% of Macerich worth $23,979,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in Macerich by 14.8% in the 3rd quarter. GAMMA Investing LLC now owns 5,371 shares of the real estate investment trust’s stock worth $98,000 after buying an additional 691 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Macerich by 16.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,205 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 858 shares in the last quarter. Archer Investment Corp raised its holdings in Macerich by 25.9% during the 3rd quarter. Archer Investment Corp now owns 7,179 shares of the real estate investment trust’s stock valued at $131,000 after acquiring an additional 1,479 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Macerich during the second quarter worth $191,000. Finally, Inspire Advisors LLC lifted its position in shares of Macerich by 14.4% during the second quarter. Inspire Advisors LLC now owns 11,858 shares of the real estate investment trust’s stock worth $192,000 after acquiring an additional 1,489 shares in the last quarter. Institutional investors own 87.38% of the company’s stock.

Analyst Upgrades and Downgrades

MAC has been the subject of several recent research reports. Citigroup lifted their price target on Macerich from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Weiss Ratings reissued a “sell (d+)” rating on shares of Macerich in a report on Thursday, January 22nd. Scotiabank raised their target price on Macerich from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 13th. Truist Financial lifted their target price on Macerich from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Finally, Mizuho set a $21.00 price target on shares of Macerich in a report on Friday, January 9th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.46.

Macerich Trading Down 5.0%

Shares of MAC stock opened at $18.81 on Monday. The business has a 50-day moving average price of $18.96 and a two-hundred day moving average price of $18.15. Macerich Company has a 12-month low of $12.48 and a 12-month high of $20.93. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.01. The firm has a market cap of $4.83 billion, a P/E ratio of -24.43, a price-to-earnings-growth ratio of 1.29 and a beta of 2.17.

Macerich (NYSE:MAC) last announced its quarterly earnings data 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 firm had revenue of $261.70 million for the quarter, compared to the consensus estimate of $260.48 million. Macerich had a negative net margin of 19.44% and a negative return on equity of 7.32%. Macerich’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 earnings per share. Equities analysts anticipate that Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, March 16th. Macerich’s dividend payout ratio (DPR) is presently -88.31%.

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.