Macerich Company (The) (NYSE:MAC) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in shares of Macerich Company (The) (NYSE:MAC) by 0.5% in the 1st quarter, HoldingsChannel reports. The firm owned 38,407,084 shares of the real estate investment trust’s stock after selling 210,362 shares during the quarter. Vanguard Group Inc. owned approximately 0.15% of Macerich worth $659,450,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Lazard Asset Management LLC purchased a new stake in Macerich in the 4th quarter worth approximately $45,000. State of Wyoming purchased a new stake in Macerich in the 4th quarter worth approximately $55,000. Signaturefd LLC grew its stake in Macerich by 34.9% in the 1st quarter. Signaturefd LLC now owns 3,329 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 862 shares during the period. Raiffeisen Bank International AG purchased a new stake in Macerich in the 4th quarter worth approximately $83,000. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of Macerich during the 4th quarter valued at $90,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MAC shares. LADENBURG THALM/SH SH started coverage on Macerich in a report on Friday, July 18th. They set a “buy” rating and a $25.00 price objective for the company. Truist Financial upped their price target on shares of Macerich from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Scotiabank lowered their target price on Macerich from $21.00 to $16.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen downgraded Macerich from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Finally, Piper Sandler raised shares of Macerich from an “underweight” rating to a “neutral” rating and set a $16.00 price target on the stock in a research report on Thursday, May 22nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $19.26.

Macerich Stock Performance

NYSE:MAC opened at $17.88 on Thursday. The company has a market cap of $4.52 billion, a price-to-earnings ratio of -10.22, a PEG ratio of 3.37 and a beta of 2.22. The firm’s 50-day moving average is $16.52 and its 200-day moving average is $16.79. Macerich Company has a 52-week low of $12.48 and a 52-week high of $22.27. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.09 and a current ratio of 0.76.

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

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Tuesday, September 9th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, September 9th. Macerich’s dividend payout ratio is currently -38.86%.

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.