Aew Capital Management L P Has $35.41 Million Stock Holdings in Macerich Company (The) $MAC

Key Points

• Aew Capital Management L P reduced its stake in Macerich Company by 5.0%, holding approximately $35.41 million worth of shares as of the last reporting period.
• Several institutional investors, including T. Rowe Price Investment Management Inc. and Bamco Inc. NY, significantly increased their positions in Macerich during recent quarters.
• Analysts have issued mixed ratings for Macerich, with a current consensus rating of "Hold" and an average target price of $19.26.

Aew Capital Management L P trimmed its position in Macerich Company (The) (NYSE:MAC - Free Report) by 5.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,062,206 shares of the real estate investment trust's stock after selling 107,800 shares during the period. Macerich makes up approximately 1.7% of Aew Capital Management L P's portfolio, making the stock its 18th biggest position. Aew Capital Management L P owned approximately 0.82% of Macerich worth $35,408,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. increased its position in Macerich by 40.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,130,323 shares of the real estate investment trust's stock valued at $105,258,000 after buying an additional 1,754,466 shares in the last quarter. Bamco Inc. NY increased its holdings in Macerich by 175.8% during the 4th quarter. Bamco Inc. NY now owns 4,675,471 shares of the real estate investment trust's stock worth $93,135,000 after purchasing an additional 2,980,051 shares in the last quarter. Northern Trust Corp increased its holdings in Macerich by 3.6% during 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 purchasing an additional 151,295 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Macerich by 4.6% during the 1st quarter. Ameriprise Financial Inc. now owns 3,432,879 shares of the real estate investment trust's stock worth $58,943,000 after purchasing an additional 152,221 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its holdings in Macerich by 3.3% during the 1st quarter. Centersquare Investment Management LLC now owns 2,082,086 shares of the real estate investment trust's stock worth $35,749,000 after purchasing an additional 66,648 shares in the last quarter. 87.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. LADENBURG THALM/SH SH assumed coverage on Macerich in a report on Friday, July 18th. They set a "buy" rating and a $25.00 price objective for the company. Piper Sandler raised Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 price objective for the company in a report on Thursday, May 22nd. Mizuho raised Macerich from a "neutral" rating to an "outperform" rating and reduced their target price for the company from $22.00 to $18.00 in a report on Tuesday, June 10th. Wall Street Zen lowered Macerich from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, Truist Financial upped their target price on Macerich from $19.00 to $21.00 and gave the company a "buy" rating in a report on Monday, June 9th. Five analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $19.26.

Macerich Price Performance

Macerich stock opened at $18.1140 on Friday. The company has a market cap of $4.58 billion, a price-to-earnings ratio of -10.35, a PEG ratio of 3.29 and a beta of 2.22. The business's 50 day simple moving average is $16.70 and its 200 day simple moving average is $16.63. Macerich Company has a 12 month low of $12.48 and a 12 month high of $22.27. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.00.

Macerich (NYSE:MAC - Get Free Report) last posted its earnings results on Monday, August 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Macerich had a negative return on equity of 15.15% and a negative net margin of 41.33%.The company had revenue of $249.79 million for the quarter, compared to analysts' expectations of $245.19 million. During the same quarter in the prior year, the company earned $0.39 EPS. The company's revenue was up 15.9% on a year-over-year basis. Sell-side analysts forecast that Macerich Company will post 1.55 EPS for the current year.

Macerich Dividend Announcement

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

About Macerich

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.

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