Macerich Company (The) (NYSE:MAC) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in shares of Macerich Company (The) (NYSE:MAC - Free Report) by 1,644.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,527 shares of the real estate investment trust's stock after purchasing an additional 72,139 shares during the period. GAMMA Investing LLC's holdings in Macerich were worth $1,314,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MAC. Empowered Funds LLC acquired a new position in shares of Macerich during the fourth quarter worth $466,000. Van ECK Associates Corp lifted its position in shares of Macerich by 20.4% during the fourth quarter. Van ECK Associates Corp now owns 44,843 shares of the real estate investment trust's stock worth $893,000 after purchasing an additional 7,608 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Macerich by 16.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 354,968 shares of the real estate investment trust's stock worth $7,149,000 after purchasing an additional 48,890 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Macerich by 2.2% in the fourth quarter. New York State Teachers Retirement System now owns 183,508 shares of the real estate investment trust's stock worth $3,655,000 after buying an additional 3,979 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Macerich by 5.8% in the fourth quarter. Rhumbline Advisers now owns 775,751 shares of the real estate investment trust's stock worth $15,453,000 after buying an additional 42,873 shares during the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MAC has been the subject of a number of research analyst reports. Piper Sandler upgraded shares of Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 price target for the company in a research note on Thursday, May 22nd. Morgan Stanley dropped their price target on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. JPMorgan Chase & Co. dropped their price target on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a research note on Monday, March 10th. Mizuho upgraded shares of Macerich from a "neutral" rating to an "outperform" rating and dropped their price target for the stock from $22.00 to $18.00 in a research note on Tuesday, June 10th. Finally, The Goldman Sachs Group dropped their price target on shares of Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research note on Monday, March 10th. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Macerich currently has an average rating of "Hold" and a consensus price target of $18.78.

Macerich Stock Performance

MAC stock traded up $0.21 during trading on Wednesday, hitting $16.02. 1,502,890 shares of the company's stock traded hands, compared to its average volume of 1,943,967. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.91. Macerich Company has a 52 week low of $12.48 and a 52 week high of $22.27. The stock has a fifty day moving average price of $15.31 and a two-hundred day moving average price of $17.85. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of -37.24, a price-to-earnings-growth ratio of 5.17 and a beta of 2.17.

Macerich (NYSE:MAC - Get Free Report) last released its earnings results on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. Macerich had a negative net margin of 12.26% and a negative return on equity of 4.37%. The firm had revenue of $249.22 million during the quarter, compared to analyst estimates of $221.61 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The firm's revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, equities analysts anticipate that Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.25%. The ex-dividend date was Tuesday, June 3rd. Macerich's dividend payout ratio (DPR) is -158.14%.

Macerich Company 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.