Macerich Company (The) (NYSE:MAC) Shares Sold by Y.D. More Investments Ltd

Key Points

• Y.D. More Investments Ltd significantly reduced its holdings in Macerich Company by 51.3%, now owning 20,880 shares valued at approximately $359,000.
• Analyst ratings for Macerich are mixed, with a current consensus rating of "Hold" and a target price averaging $19.26; recent reports have seen some analysts downgrade from "hold" to "sell."
• Macerich announced a quarterly dividend of $0.17 per share, equating to an annualized yield of 4.1%, despite a payout ratio of -158.14%.

Y.D. More Investments Ltd reduced its position in shares of Macerich Company (The) (NYSE:MAC - Free Report) by 51.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,880 shares of the real estate investment trust's stock after selling 22,000 shares during the period. Y.D. More Investments Ltd's holdings in Macerich were worth $359,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Lazard Asset Management LLC acquired a new position in shares of Macerich in the 4th quarter worth $45,000. State of Wyoming purchased a new position in Macerich in the 4th quarter worth about $55,000. Signaturefd LLC raised its holdings in Macerich by 34.9% during the 1st quarter. Signaturefd LLC now owns 3,329 shares of the real estate investment trust's stock worth $57,000 after buying an additional 862 shares during the period. Raiffeisen Bank International AG purchased a new stake in Macerich during the fourth quarter valued at about $83,000. Finally, GF Fund Management CO. LTD. acquired a new position in shares of Macerich in the fourth quarter worth about $90,000. 87.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MAC has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Macerich from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. LADENBURG THALM/SH SH assumed coverage on shares of Macerich in a research note on Friday, July 18th. They set a "buy" rating and a $25.00 target price on the stock. Mizuho raised 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. Scotiabank dropped their price target 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. Finally, Truist Financial increased their price objective on Macerich from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $19.26.

Macerich Stock Down 2.7%

Shares of Macerich stock opened at $16.54 on Friday. The stock has a 50-day simple moving average of $16.43 and a 200-day simple moving average of $16.87. Macerich Company has a 52-week low of $12.48 and a 52-week high of $22.27. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of -38.47, a P/E/G ratio of 3.28 and a beta of 2.22. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.09 and a quick ratio of 1.09.

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

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 9th will be given a $0.17 dividend. 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 4.1%. Macerich's payout ratio is currently -158.14%.

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.

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