The Macerich Company (NYSE:MAC) Stock Position Decreased by BNP Paribas Financial Markets

BNP Paribas Financial Markets trimmed its position in The Macerich Company (NYSE:MAC - Free Report) by 38.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,900 shares of the real estate investment trust's stock after selling 18,416 shares during the period. BNP Paribas Financial Markets' holdings in Macerich were worth $596,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MAC. FMR LLC lifted its holdings in Macerich by 87.3% during the 4th quarter. FMR LLC now owns 22,047,786 shares of the real estate investment trust's stock worth $439,192,000 after buying an additional 10,274,895 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Macerich by 845.9% during the 4th quarter. Wellington Management Group LLP now owns 10,051,286 shares of the real estate investment trust's stock valued at $200,222,000 after acquiring an additional 8,988,665 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Macerich by 13.2% in the fourth quarter. Vanguard Group Inc. now owns 38,617,446 shares of the real estate investment trust's stock worth $769,260,000 after purchasing an additional 4,503,509 shares during the period. Prudential Financial Inc. increased its stake in Macerich by 463.6% during the fourth quarter. Prudential Financial Inc. now owns 2,590,689 shares of the real estate investment trust's stock valued at $51,607,000 after purchasing an additional 2,131,030 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Macerich by 77.7% during the fourth quarter. JPMorgan Chase & Co. now owns 3,812,987 shares of the real estate investment trust's stock valued at $75,955,000 after purchasing an additional 1,667,066 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MAC shares. Truist Financial raised shares of Macerich from a "hold" rating to a "buy" rating and set a $19.00 price target for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. lowered their target price on Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a report on Monday, March 10th. The Goldman Sachs Group dropped their price target on Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research report on Monday, March 10th. Scotiabank reduced their price objective on Macerich from $21.00 to $16.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Finally, Morgan Stanley lowered their price objective on Macerich from $20.00 to $19.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. 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, the company has a consensus rating of "Hold" and a consensus price target of $18.95.

Macerich Price Performance

MAC traded up $0.49 on Tuesday, reaching $15.38. The company had a trading volume of 1,866,277 shares, compared to its average volume of 1,925,367. The company has a market capitalization of $3.89 billion, a P/E ratio of 39.44, a PEG ratio of 0.71 and a beta of 2.13. 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 company has a fifty day moving average of $15.35 and a 200-day moving average of $18.29. The Macerich Company has a one year low of $12.48 and a one year high of $22.27.

Macerich (NYSE:MAC - Get Free Report) last posted 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 net margin of 8.98% and a return on equity of 3.15%. The business had revenue of $249.22 million for the quarter, compared to analyst estimates of $221.61 million. During the same quarter last year, the business earned $0.33 earnings per share. The business's revenue for the quarter was up 19.3% on a year-over-year basis. As a group, equities research analysts anticipate that The Macerich Company will post 1.55 earnings per share for the current year.

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend is Tuesday, June 3rd. Macerich's dividend payout ratio (DPR) is presently -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.