B&I Capital AG Boosts Stake in Macerich Company (The) (NYSE:MAC)

B&I Capital AG boosted its position in shares of Macerich Company (The) (NYSE:MAC - Free Report) by 15.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 428,700 shares of the real estate investment trust's stock after acquiring an additional 58,250 shares during the quarter. Macerich comprises about 2.4% of B&I Capital AG's portfolio, making the stock its 18th largest position. B&I Capital AG owned about 0.17% of Macerich worth $7,361,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MAC. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Macerich during the first quarter worth about $2,782,000. Allianz Asset Management GmbH lifted its holdings in shares of Macerich by 35.6% in the 1st quarter. Allianz Asset Management GmbH now owns 674,310 shares of the real estate investment trust's stock valued at $11,578,000 after purchasing an additional 177,183 shares during the last quarter. Berkeley Capital Partners LLC grew its holdings in shares of Macerich by 2.6% during the first quarter. Berkeley Capital Partners LLC now owns 66,067 shares of the real estate investment trust's stock worth $1,134,000 after buying an additional 1,666 shares during the last quarter. Archer Investment Corp purchased a new stake in Macerich during the first quarter worth about $98,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Macerich by 230.9% in the first quarter. Victory Capital Management Inc. now owns 301,067 shares of the real estate investment trust's stock valued at $5,169,000 after purchasing an additional 210,079 shares in the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on MAC shares. Truist Financial boosted their price objective on Macerich from $19.00 to $21.00 and gave the company a "buy" rating in a report on Monday, June 9th. Scotiabank decreased their target price on shares of Macerich from $21.00 to $16.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. LADENBURG THALM/SH SH initiated coverage on shares of Macerich in a research report on Friday. They set a "buy" rating and a $25.00 price objective for the company. Morgan Stanley lowered their price objective on Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. Finally, Piper Sandler upgraded shares of Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 price target on the stock in a research report on Thursday, May 22nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $19.26.

Macerich Stock Up 3.6%

Shares of MAC traded up $0.61 during trading hours on Tuesday, hitting $17.47. 2,079,093 shares of the company were exchanged, compared to its average volume of 1,926,016. The company has a market cap of $4.41 billion, a PE ratio of -40.62, a PEG ratio of 3.29 and a beta of 2.13. The firm's 50 day moving average is $16.05 and its 200-day moving average is $17.11. 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 1.91, a quick ratio of 1.09 and a current ratio of 1.09.

Macerich (NYSE:MAC - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. Macerich had a negative return on equity of 4.37% and a negative net margin of 12.26%. The company had revenue of $249.22 million during the quarter, compared to the consensus estimate of $221.61 million. During the same period in the prior year, the company earned $0.33 earnings per share. The company's revenue for the quarter was up 19.3% compared to the same quarter last year. On average, equities research analysts forecast that Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.68 annualized dividend and a yield of 3.89%. Macerich's payout ratio is -158.14%.

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.