ProShare Advisors LLC Grows Stake in The Macerich Company (NYSE:MAC)

ProShare Advisors LLC lifted its holdings in The Macerich Company (NYSE:MAC - Free Report) by 58.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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.

A number of other institutional investors have also recently made changes to their positions in MAC. Quantbot Technologies LP bought a new stake in Macerich in the fourth quarter worth about $30,000. Lazard Asset Management LLC bought a new stake in Macerich in the fourth quarter worth about $45,000. Blue Trust Inc. raised its holdings in shares of Macerich by 68.8% in the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock worth $48,000 after buying an additional 1,064 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of 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 acquiring an additional 2,630 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Macerich during the 4th quarter valued at $99,000. Institutional investors own 87.38% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MAC. JPMorgan Chase & Co. reduced their target price on Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a research note on Monday, March 10th. Scotiabank cut their price target on shares of Macerich from $21.00 to $16.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Truist Financial upgraded shares of Macerich from a "hold" rating to a "buy" rating and set a $19.00 price objective for the company in a report on Thursday, April 10th. The Goldman Sachs Group dropped their target price on shares of Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research note on Monday, March 10th. Finally, Morgan Stanley dropped 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. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $18.95.

Macerich Trading Down 2.2%

Shares of Macerich stock traded down $0.34 on Friday, hitting $14.89. 1,240,151 shares of the company traded hands, compared to its average volume of 1,925,604. The stock's 50 day moving average price is $15.40 and its 200-day moving average price is $18.33. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a 52 week low of $12.48 and a 52 week high of $22.27. The company has a market cap of $3.76 billion, a PE ratio of 38.17, a PEG ratio of 0.71 and a beta of 2.13.

Macerich (NYSE:MAC - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $0.33 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 8.98% and a return on equity of 3.15%. Macerich's revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 earnings per share. Equities research analysts predict that The Macerich Company will post 1.55 EPS for the current year.

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Tuesday, June 3rd. Macerich's dividend payout ratio (DPR) 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.