Macerich Company (The) $MAC Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its stake in Macerich Company (The) (NYSE:MAC - Free Report) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,407,084 shares of the real estate investment trust's stock after selling 210,362 shares during the quarter. Vanguard Group Inc. owned about 15.20% of Macerich worth $659,450,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bamco Inc. NY raised its holdings in Macerich by 175.8% during the fourth quarter. Bamco Inc. NY now owns 4,675,471 shares of the real estate investment trust's stock worth $93,135,000 after purchasing an additional 2,980,051 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Macerich by 56.7% during the fourth quarter. Northern Trust Corp now owns 4,205,890 shares of the real estate investment trust's stock worth $83,781,000 after purchasing an additional 1,522,147 shares during the period. GRS Advisors LLC purchased a new position in shares of Macerich during the 4th quarter valued at $23,097,000. Woodline Partners LP acquired a new stake in shares of Macerich during the 4th quarter valued at about $16,778,000. Finally, Waterfront Capital Partners LLC bought a new stake in Macerich in the fourth quarter worth approximately $12,314,000. Hedge funds and other institutional investors own 87.38% of the company's stock.

Macerich Price Performance

Shares of MAC traded down $0.03 during midday trading on Monday, hitting $17.18. 183,217 shares of the company traded hands, compared to its average volume of 1,997,281. The firm has a 50 day moving average of $16.58 and a 200-day moving average of $16.69. Macerich Company has a 52 week low of $12.48 and a 52 week high of $22.27. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of -9.82, a PEG ratio of 3.32 and a beta of 2.22. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.76 and a current ratio of 0.76.

Macerich (NYSE:MAC - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The real estate investment trust reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). The firm had revenue of $249.79 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.39 earnings per share. On average, analysts forecast that Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently commented on MAC. LADENBURG THALM/SH SH assumed coverage on Macerich in a research note on Friday, July 18th. They issued a "buy" rating and a $25.00 price objective on the stock. Truist Financial upped their price objective on Macerich from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Mizuho upgraded Macerich from a "neutral" rating to an "outperform" rating and reduced their target price for the stock from $22.00 to $18.00 in a report on Tuesday, June 10th. Piper Sandler raised Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 target price for the company in a research note on Thursday, May 22nd. Finally, Scotiabank cut their price objective on shares of Macerich from $21.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. Three investment 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's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $19.26.

About Macerich

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.