Macerich Company (The) $MAC Shares Sold by B&I Capital AG

Key Points

• B&I Capital AG cut its stake in Macerich by 46.1% in Q4, selling 179,200 shares and leaving 209,232 shares valued at $3.86M; institutional investors now own about 87.38% of the company.
• Macerich reported a quarterly loss of ($0.07) EPS vs. a $0.43 estimate with negative ROE and net margin, saw revenue roughly in line at $261.7M, pays a $0.17 quarterly dividend (3.2% yield), and carries a consensus analyst rating of "Hold" with a $20.77 price target.

B&I Capital AG lowered its position in shares of Macerich Company (The) (NYSE:MAC - Free Report) by 46.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 209,232 shares of the real estate investment trust's stock after selling 179,200 shares during the period. Macerich accounts for approximately 1.4% of B&I Capital AG's portfolio, making the stock its 23rd largest position. B&I Capital AG owned 0.08% of Macerich worth $3,862,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position in Macerich by 76.8% in 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 acquiring an additional 585 shares during the last quarter. Triumph Capital Management purchased a new stake in Macerich in the third quarter valued at $33,000. Danske Bank A S purchased a new stake in Macerich in the third quarter valued at $56,000. GAMMA Investing LLC lifted its position in Macerich by 14.8% in the third quarter. GAMMA Investing LLC now owns 5,371 shares of the real estate investment trust's stock valued at $98,000 after acquiring an additional 691 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Macerich by 16.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,205 shares of the real estate investment trust's stock valued at $100,000 after acquiring an additional 858 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company's stock.

Macerich Trading Up 0.1%

Shares of MAC opened at $21.49 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.01. The firm's 50-day moving average is $19.50 and its two-hundred day moving average is $18.44. Macerich Company has a twelve month low of $13.86 and a twelve month high of $21.83. The firm has a market capitalization of $5.52 billion, a P/E ratio of -27.91, a PEG ratio of 1.48 and a beta of 2.20.

Macerich (NYSE:MAC - Get Free Report) last issued its earnings results on Wednesday, February 18th. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.50). Macerich had a negative return on equity of 7.32% and a negative net margin of 19.44%.The company had revenue of $261.70 million for the quarter, compared to analyst estimates of $260.48 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company's quarterly revenue was down 4.4% compared to the same quarter last year. On average, research analysts predict that Macerich Company will post 1.55 earnings per share for the current fiscal year.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were given a $0.17 dividend. The ex-dividend date was Monday, March 16th. This represents a $0.68 annualized dividend and a dividend yield of 3.2%. Macerich's dividend payout ratio is currently -88.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MAC shares. JPMorgan Chase & Co. boosted their price target on shares of Macerich from $18.00 to $19.00 and gave the company an "underweight" rating in a research report on Tuesday, March 10th. The Goldman Sachs Group boosted their price target on shares of Macerich from $15.00 to $17.00 and gave the company a "sell" rating in a research report on Monday, March 2nd. Mizuho set a $21.00 price target on shares of Macerich in a research report on Friday, January 9th. Morgan Stanley set a $20.00 price target on shares of Macerich in a research report on Tuesday. Finally, KeyCorp set a $25.00 price target on shares of Macerich and gave the company an "overweight" rating in a research report on Monday, February 23rd. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $20.77.

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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