ProShare Advisors LLC Raises Stock Holdings in The Macerich Company (NYSE:MAC)

ProShare Advisors LLC boosted its stake in shares of The Macerich Company (NYSE:MAC - Free Report) by 58.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 71,524 shares of the real estate investment trust's stock after acquiring an additional 26,334 shares during the period. ProShare Advisors LLC's holdings in Macerich were worth $1,425,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in Macerich during the fourth quarter worth $30,000. Lazard Asset Management LLC acquired a new stake in Macerich during the 4th quarter worth $45,000. Blue Trust Inc. boosted its stake in Macerich by 68.8% during the 4th quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 1,064 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Macerich by 314.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock worth $69,000 after purchasing an additional 2,630 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Macerich during the 4th quarter worth $99,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MAC has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a research note on Monday, March 10th. Scotiabank lowered their target price on shares of Macerich from $21.00 to $16.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley lowered their target price on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. Piper Sandler raised shares of Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 target price on the stock in a research note on Thursday. Finally, Truist Financial upgraded Macerich from a "hold" rating to a "buy" rating and set a $19.00 price target on the stock in a report on Thursday, April 10th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Macerich presently has an average rating of "Hold" and a consensus price target of $18.95.

Macerich Trading Up 2.2%

MAC traded up $0.33 on Tuesday, hitting $15.22. The company had a trading volume of 174,842 shares, compared to its average volume of 1,918,730. The firm has a market cap of $3.84 billion, a P/E ratio of 38.94, a PEG ratio of 0.71 and a beta of 2.13. The Macerich Company has a 1 year low of $12.48 and a 1 year high of $22.27. The company's fifty day moving average price is $15.35 and its 200 day moving average price is $18.29. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich (NYSE:MAC - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. The firm had revenue of $249.22 million for the quarter, compared to analyst estimates of $221.61 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. Macerich's revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 EPS. As a group, equities analysts expect that The Macerich Company will post 1.55 earnings per share for the current year.

Macerich Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd will be issued a $0.17 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $0.68 annualized dividend and a yield of 4.47%. Macerich's dividend payout ratio (DPR) 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.