APG Asset Management US Inc. Raises Stock Holdings in Macerich Company (The) $MAC

Key Points

• APG Asset Management US Inc. has raised its stake in Macerich Company by 21.0% during the first quarter, now holding approximately 1.46 million shares valued at nearly $24.9 million.
• Equities research analysts have mixed ratings on Macerich, with a consensus rating of “Hold” and a price target of $19.26, although some firms have rated it as a “Sell” and others as a “Buy.”
• Macerich announced a quarterly dividend of $0.17 per share, reflecting an annualized yield of 3.9%, with the payout ratio currently at -38.86%.

APG Asset Management US Inc. increased its holdings in shares of Macerich Company (The) (NYSE:MAC - Free Report) by 21.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,459,447 shares of the real estate investment trust's stock after acquiring an additional 253,275 shares during the period. APG Asset Management US Inc. owned approximately 0.58% of Macerich worth $24,898,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Lazard Asset Management LLC acquired a new stake in shares of Macerich during the 4th quarter valued at about $45,000. State of Wyoming acquired a new stake in Macerich in the 4th quarter worth about $55,000. Signaturefd LLC boosted its holdings 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 buying an additional 862 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in Macerich in the 4th quarter worth about $83,000. Finally, GF Fund Management CO. LTD. acquired a new stake in Macerich in the 4th quarter worth about $90,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wall Street Zen cut Macerich from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Mizuho upgraded Macerich from a "neutral" rating to an "outperform" rating and lowered their price objective for the stock from $22.00 to $18.00 in a report on Tuesday, June 10th. Truist Financial lifted their price objective on Macerich from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Monday, June 9th. LADENBURG THALM/SH SH started coverage on Macerich in a report on Friday, July 18th. They set a "buy" rating and a $25.00 target price on the stock. Finally, Piper Sandler upgraded Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 target price on the stock in a report on Thursday, May 22nd. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $19.26.

Macerich Stock Up 0.2%

MAC stock opened at $17.2410 on Friday. The firm has a market cap of $4.36 billion, a PE ratio of -9.82, a PEG ratio of 3.32 and a beta of 2.22. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.76 and a current ratio of 0.76. The firm's 50 day moving average price is $16.65 and its 200-day moving average price is $16.65. Macerich Company has a one year low of $12.48 and a one year high of $22.27.

Macerich (NYSE:MAC - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The real estate investment trust reported $0.32 EPS 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 analysts' expectations of $245.19 million. Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The firm's quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 EPS. On average, equities research analysts anticipate 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. Shareholders of record on Tuesday, September 9th will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $0.68 dividend on an annualized basis and a yield of 3.9%. Macerich's payout ratio is presently -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.

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