Macerich Company (The) $MAC is Smead Capital Management Inc.'s 4th Largest Position

Key Points

• Smead Capital Management Inc. reduced its holdings in Macerich Company by 8.7%, now owning approximately 18.21 million shares, making it the 4th largest holding in their portfolio.
• Analysts have varied views on Macerich, with five rating it as a Buy, five as a Hold, and two giving it a Sell rating, while the consensus target price is set at **$19.78**.
• Macerich reported a quarterly earnings miss, with earnings per share at $0.32 against an estimated $0.34, despite a revenue increase of 15.9% year-over-year.

Smead Capital Management Inc. cut its stake in Macerich Company (The) (NYSE:MAC - Free Report) by 8.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,214,281 shares of the real estate investment trust's stock after selling 1,735,476 shares during the quarter. Macerich comprises approximately 5.4% of Smead Capital Management Inc.'s investment portfolio, making the stock its 4th biggest position. Smead Capital Management Inc. owned about 7.21% of Macerich worth $312,739,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MAC. Raymond James Financial Inc. acquired a new stake in shares of Macerich in the 4th quarter worth $450,000. First Trust Advisors LP grew its holdings in shares of Macerich by 11.2% during the 4th quarter. First Trust Advisors LP now owns 182,221 shares of the real estate investment trust's stock worth $3,630,000 after purchasing an additional 18,332 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Macerich by 64.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,155 shares of the real estate investment trust's stock worth $222,000 after purchasing an additional 4,389 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Macerich by 14.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 184,269 shares of the real estate investment trust's stock worth $3,671,000 after purchasing an additional 22,924 shares during the period. Finally, Voya Investment Management LLC grew its holdings in shares of Macerich by 9.5% during the 4th quarter. Voya Investment Management LLC now owns 76,904 shares of the real estate investment trust's stock worth $1,532,000 after purchasing an additional 6,651 shares during the period. 87.38% of the stock is owned by institutional investors and hedge funds.

Macerich Trading Up 0.3%

NYSE MAC traded up $0.06 during trading on Wednesday, hitting $18.18. The stock had a trading volume of 370,064 shares, compared to its average volume of 1,962,371. The firm has a 50 day moving average price of $17.01 and a 200 day moving average price of $16.49. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $4.59 billion, a PE ratio of -10.39, a PEG ratio of 3.55 and a beta of 2.27. Macerich Company has a twelve month low of $12.48 and a twelve month high of $22.27.

Macerich (NYSE:MAC - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). The company had revenue of $249.79 million during the quarter, compared to analysts' expectations of $245.19 million. Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The business's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 EPS. As a group, equities research analysts forecast that Macerich Company will post 1.55 earnings per share for the current year.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 9th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, September 9th. Macerich's dividend payout ratio (DPR) is presently -38.86%.

Wall Street Analysts Forecast Growth

MAC has been the subject of a number of research analyst reports. Truist Financial increased their price target on Macerich from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Wall Street Zen cut Macerich from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Scotiabank increased their price target on Macerich from $16.00 to $18.00 and gave the stock a "sector perform" rating in a report on Thursday, August 28th. JPMorgan Chase & Co. increased their price target on Macerich from $18.00 to $19.00 and gave the stock an "underweight" rating in a report on Wednesday, August 27th. Finally, LADENBURG THALM/SH SH started coverage on Macerich in a research report on Friday, July 18th. They issued a "buy" rating and a $25.00 target price for the company. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $19.78.

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.