Free Trial

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

Macerich logo with Finance background

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.
  • MarketBeat previews the top five stocks to own by October 1st.

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.

Check Out Our Latest Stock Report on Macerich

Macerich Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Macerich (NYSE:MAC)

Should You Invest $1,000 in Macerich Right Now?

Before you consider Macerich, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Macerich wasn't on the list.

While Macerich currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Ride The A.I. Megaboom Cover


We are about to experience the greatest A.I. boom in stock market history...

Thanks to a pivotal economic catalyst, specific tech stocks will skyrocket just like they did during the "dot com" boom in the 1990s.

That’s why, we’ve hand-selected 7 tiny tech disruptor stocks positioned to surge.

  1. The first pick is a tiny under-the-radar A.I. stock that's trading for just $3.00. This company already has 98 registered patents for cutting-edge voice and sound recognition technology... And has lined up major partnerships with some of the biggest names in the auto, tech, and music industry... plus many more.
  2. The second pick presents an affordable avenue to bolster EVs and AI development…. Analysts are calling this stock a “buy” right now and predict a high price target of $19.20, substantially more than its current $6 trading price.
  3. Our final and favorite pick is generating a brand-new kind of AI. It's believed this tech will be bigger than the current well-known leader in this industry… Analysts predict this innovative tech is gearing up to create a tidal wave of new wealth, fueling a $15.7 TRILLION market boom.

Right now, we’re staring down the barrel of a true once-in-a-lifetime moment. As an investment opportunity, this kind of breakthrough doesn't come along every day.

And the window to get in on the ground-floor — maximizing profit potential from this expected market surge — is closing quickly...

Simply enter your email below to get the names and tickers of the 7 small stocks with potential to make investors very, very happy.

Get This Free Report
Like this article? Share it with a colleague.