Macerich Company (The) $MAC Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. significantly increased its ownership in Macerich by 95.4% during Q1, totaling approximately $7.88 million worth of shares.
• Analysts have mixed views on Macerich, with the company receiving a consensus rating of "Hold" and a price target averaging $19.26.
• Macerich announced a quarterly dividend of $0.17 per share, representing an annual yield of 3.9%, with the payment date set for September 23rd.

Russell Investments Group Ltd. grew its stake in shares of Macerich Company (The) (NYSE:MAC - Free Report) by 95.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 459,097 shares of the real estate investment trust's stock after acquiring an additional 224,095 shares during the period. Russell Investments Group Ltd. owned about 0.18% of Macerich worth $7,883,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in Macerich during the 4th quarter worth $45,000. State of Wyoming acquired a new position in shares of Macerich in the 4th quarter valued at about $55,000. Signaturefd LLC boosted its holdings in shares of Macerich by 34.9% in the 1st quarter. Signaturefd LLC now owns 3,329 shares of the real estate investment trust's stock valued at $57,000 after buying an additional 862 shares during the period. Raiffeisen Bank International AG acquired a new position in shares of Macerich in the 4th quarter valued at about $83,000. Finally, GF Fund Management CO. LTD. acquired a new position in shares of Macerich in the 4th quarter valued at about $90,000. 87.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MAC has been the subject of several research reports. Truist Financial lifted their price target on shares of Macerich from $19.00 to $21.00 and gave the company a "buy" rating in a report on Monday, June 9th. Mizuho upgraded shares of Macerich from a "neutral" rating to an "outperform" rating and cut their price objective for the company from $22.00 to $18.00 in a research report on Tuesday, June 10th. Piper Sandler upgraded shares of Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 price objective on the stock in a research report on Thursday, May 22nd. Wall Street Zen downgraded shares of Macerich from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, Scotiabank dropped their price target on shares of Macerich from $21.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $19.26.

Macerich Stock Up 1.5%

MAC opened at $17.3910 on Wednesday. The firm's 50-day simple moving average is $16.61 and its 200-day simple moving average is $16.67. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.76 and a current ratio of 0.76. Macerich Company has a twelve month low of $12.48 and a twelve month high of $22.27. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of -9.94, a PEG ratio of 3.30 and a beta of 2.22.

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 for the quarter, missing the consensus estimate of $0.34 by ($0.02). The firm had revenue of $249.79 million during the quarter, compared to the consensus estimate of $245.19 million. Macerich had a negative return on equity of 15.15% and a negative net margin of 41.33%.The firm's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 EPS. Equities research analysts anticipate that Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 9th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.9%. The ex-dividend date is Tuesday, September 9th. Macerich's dividend payout ratio (DPR) is -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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