Y.D. More Investments Ltd Sells 22,000 Shares of Macerich Company (The) (NYSE:MAC)

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 lowered its position in Macerich Company (The) (NYSE:MAC - Free Report) by 51.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MAC. FIL Ltd increased its holdings in Macerich by 4.7% during the fourth quarter. FIL Ltd now owns 1,158,518 shares of the real estate investment trust's stock worth $23,078,000 after buying an additional 51,994 shares during the last quarter. TCTC Holdings LLC purchased a new stake in Macerich during the first quarter worth about $1,449,000. Asset Management One Co. Ltd. boosted its position in Macerich by 3.5% during the first quarter. Asset Management One Co. Ltd. now owns 367,295 shares of the real estate investment trust's stock worth $6,306,000 after purchasing an additional 12,327 shares during the period. GAMMA Investing LLC boosted its position in Macerich by 1,644.0% during the first quarter. GAMMA Investing LLC now owns 76,527 shares of the real estate investment trust's stock worth $1,314,000 after purchasing an additional 72,139 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Macerich by 0.9% during the first quarter. Envestnet Asset Management Inc. now owns 331,726 shares of the real estate investment trust's stock worth $5,696,000 after purchasing an additional 3,032 shares during the period. Hedge funds and other institutional investors own 87.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Piper Sandler upgraded shares of Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 target price for the company in a research report on Thursday, May 22nd. Mizuho upgraded shares of Macerich from a "neutral" rating to an "outperform" rating and cut their target price for the stock from $22.00 to $18.00 in a research report on Tuesday, June 10th. Truist Financial increased their target price on shares of Macerich from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Wall Street Zen lowered shares of Macerich from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Macerich in a research report on Friday, July 18th. They set a "buy" rating and a $25.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $19.26.

Macerich Price Performance

Shares of MAC stock traded up $0.81 during trading hours on Tuesday, reaching $17.47. The stock had a trading volume of 939,570 shares, compared to its average volume of 1,994,863. The stock's fifty day simple moving average is $16.45 and its 200 day simple moving average is $16.78. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.91. Macerich Company has a 12 month low of $12.48 and a 12 month high of $22.27. The firm has a market capitalization of $4.41 billion, a PE ratio of -40.58, a PEG ratio of 3.22 and a beta of 2.22.

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

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 9th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, September 9th. This represents a $0.68 annualized dividend and a yield of 3.9%. Macerich's payout ratio is presently -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.