US Bancorp DE Acquires 26,365 Shares of Macerich Company (The) (NYSE:MAC)

Key Points

• US Bancorp DE increased its holdings in Macerich Company by 334.8% during the first quarter, owning 34,239 shares worth approximately $588,000.
• Analysts have mixed opinions on Macerich, with ratings ranging from "sell" to "buy", and a consensus price target of $19.26.
• Macerich has declared a quarterly dividend of $0.17 per share, which will be paid on September 23rd, showcasing a dividend yield of 4.1%.

US Bancorp DE increased its position in Macerich Company (The) (NYSE:MAC - Free Report) by 334.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,239 shares of the real estate investment trust's stock after acquiring an additional 26,365 shares during the period. US Bancorp DE's holdings in Macerich were worth $588,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. TCTC Holdings LLC bought a new stake in Macerich during the first quarter valued at about $1,449,000. Asset Management One Co. Ltd. lifted its position in shares of Macerich by 3.5% in the first quarter. Asset Management One Co. Ltd. now owns 367,295 shares of the real estate investment trust's stock valued at $6,306,000 after acquiring an additional 12,327 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Macerich by 1,644.0% in the first quarter. GAMMA Investing LLC now owns 76,527 shares of the real estate investment trust's stock valued at $1,314,000 after acquiring an additional 72,139 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Macerich by 0.9% in the first quarter. Envestnet Asset Management Inc. now owns 331,726 shares of the real estate investment trust's stock valued at $5,696,000 after acquiring an additional 3,032 shares in the last quarter. Finally, Waterfront Capital Partners LLC purchased a new position in shares of Macerich in the fourth quarter valued at about $12,314,000. Institutional investors own 87.38% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on MAC shares. Wall Street Zen downgraded Macerich from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Scotiabank decreased their target price on Macerich from $21.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Mizuho upgraded Macerich from a "neutral" rating to an "outperform" rating and decreased their target price for the stock from $22.00 to $18.00 in a research report on Tuesday, June 10th. Piper Sandler upgraded Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 target price on the stock in a research report on Thursday, May 22nd. Finally, LADENBURG THALM/SH SH assumed coverage on Macerich in a research report on Friday, July 18th. They issued a "buy" rating and a $25.00 target price on the stock. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $19.26.

Macerich Trading Down 1.2%

MAC stock traded down $0.20 during midday trading on Friday, reaching $17.19. 1,672,873 shares of the company traded hands, compared to its average volume of 1,921,349. Macerich Company has a 52-week low of $12.48 and a 52-week high of $22.27. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.09 and a current ratio of 0.76. The business has a 50 day moving average of $16.58 and a 200-day moving average of $16.72. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of -9.82, a P/E/G ratio of 3.32 and a beta of 2.22.

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

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 9th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.0%. Macerich's dividend payout ratio is currently -38.86%.

Macerich Company 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.