BlackRock Inc. Purchases New Holdings in Macerich Company (The) $MAC

BlackRock Inc. acquired a new position in Macerich Company (The) (NYSE:MAC - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 54,737,438 shares of the real estate investment trust's stock, valued at approximately $1,378,836,000. BlackRock Inc. owned 19.30% of Macerich at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MAC. Farther Finance Advisors LLC grew its stake in shares of Macerich by 76.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 585 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Macerich by 366.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 1,095 shares during the last quarter. Hantz Financial Services Inc. increased its stake in Macerich by 80.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust's stock worth $28,000 after buying an additional 684 shares during the period. Triumph Capital Management purchased a new position in Macerich in the 3rd quarter worth about $33,000. Finally, Salomon & Ludwin LLC lifted its holdings in Macerich by 156.6% during the 4th quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust's stock valued at $41,000 after buying an additional 1,336 shares in the last quarter. Institutional investors own 87.38% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MAC. Morgan Stanley boosted their price objective on shares of Macerich from $20.00 to $25.00 and gave the company an "equal weight" rating in a research report on Thursday, June 18th. Jefferies Financial Group raised shares of Macerich to a "strong-buy" rating in a research note on Friday, June 26th. Mizuho set a $28.00 price target on Macerich in a report on Wednesday, August 5th. Scotiabank increased their price objective on Macerich from $24.00 to $27.00 and gave the stock a "sector outperform" rating in a research note on Thursday, June 18th. Finally, Compass Point restated a "neutral" rating and set a $26.00 price objective (up from $23.00) on shares of Macerich in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $25.75.

Macerich Price Performance

Shares of MAC opened at $24.73 on Friday. The company has a 50 day moving average price of $25.06 and a 200-day moving average price of $22.22. Macerich Company has a fifty-two week low of $16.03 and a fifty-two week high of $26.67. The stock has a market capitalization of $7.01 billion, a PE ratio of -38.05, a PEG ratio of 1.75 and a beta of 2.07. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.88 and a current ratio of 0.88.

Macerich (NYSE:MAC - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). The business had revenue of $249.71 million for the quarter, compared to the consensus estimate of $239.77 million. Macerich had a negative net margin of 16.85% and a negative return on equity of 6.26%. Macerich's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 earnings per share. Equities analysts predict that Macerich Company will post 1.49 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Monday, September 14th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, September 14th. Macerich's payout ratio is presently -104.62%.

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.

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