Macerich Company (The) $MAC Shares Acquired by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its Macerich stake by 1.7% in the first quarter, adding 65,331 shares to own 3.85 million shares valued at approximately $72.7 million. Institutional investors and hedge funds collectively own 87.38% of MAC.
• Macerich reported quarterly EPS of $0.34, beating estimates of $0.31, while revenue of $241.54 million exceeded forecasts but declined 3.1% year over year. The REIT also maintained a quarterly dividend of $0.17 per share, representing a 2.6% annualized yield.
• Analyst sentiment is moderately bullish, with a consensus rating of “Moderate Buy” and an average price target of $25.33. MAC shares opened at $25.82, near their 52-week high of $26.67.

Dimensional Fund Advisors LP lifted its stake in Macerich Company (The) (NYSE:MAC - Free Report) by 1.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,848,113 shares of the real estate investment trust's stock after buying an additional 65,331 shares during the period. Dimensional Fund Advisors LP owned approximately 1.48% of Macerich worth $72,727,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Farther Finance Advisors LLC increased its position 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 worth $25,000 after purchasing an additional 585 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Macerich by 366.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 1,095 shares during the last quarter. Hantz Financial Services Inc. boosted its position in shares of 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 valued at $28,000 after purchasing an additional 684 shares during the period. Triumph Capital Management acquired a new stake in shares of Macerich in the 3rd quarter valued at about $33,000. Finally, Salomon & Ludwin LLC grew its stake 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 worth $41,000 after buying an additional 1,336 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Macerich Price Performance

Shares of NYSE MAC opened at $25.82 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a fifty day moving average price of $24.60 and a 200 day moving average price of $21.56. Macerich Company has a 1-year low of $15.94 and a 1-year high of $26.67. The company has a market cap of $7.32 billion, a PE ratio of -36.36, a P/E/G ratio of 1.79 and a beta of 2.06.

Macerich (NYSE:MAC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. The firm had revenue of $241.54 million for the quarter, compared to analyst estimates of $233.06 million. Macerich had a negative net margin of 18.22% and a negative return on equity of 6.95%. Macerich's quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the firm posted $0.33 EPS. Sell-side analysts forecast that Macerich Company will post 1.49 EPS for the current year.

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Monday, June 15th. Macerich's payout ratio is -95.77%.

Analyst Ratings Changes

Several research firms have commented on MAC. Morgan Stanley lifted their price target on Macerich from $20.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 18th. Mizuho increased their price objective on Macerich from $23.00 to $24.00 and gave the company an "outperform" rating in a report on Friday, May 15th. Wall Street Zen raised shares of Macerich from a "sell" rating to a "hold" rating in a report on Saturday, June 27th. KeyCorp upped their price target on shares of Macerich from $25.00 to $27.00 and gave the company an "overweight" rating in a research report on Wednesday, June 10th. Finally, LADENBURG THALM/SH SH upped their price target on shares of Macerich from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $25.33.

Macerich Company 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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