The Macerich Company (NYSE:MAC) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets cut its holdings in shares of The Macerich Company (NYSE:MAC - Free Report) by 38.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MAC. Quantbot Technologies LP bought a new stake in shares of Macerich in the fourth quarter worth $30,000. Blue Trust Inc. grew its holdings 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 acquiring an additional 1,064 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Macerich by 314.2% in 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. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Macerich in the 4th quarter valued at about $99,000. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Macerich by 9.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,787 shares of the real estate investment trust's stock valued at $118,000 after purchasing an additional 512 shares in the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Stock Performance

Shares of MAC traded up $0.48 during midday trading on Thursday, hitting $16.26. 2,955,858 shares of the stock traded hands, compared to its average volume of 1,932,583. The business's 50 day moving average price is $15.25 and its two-hundred day moving average price is $18.22. The firm has a market capitalization of $4.11 billion, a PE ratio of 41.68, a price-to-earnings-growth ratio of 0.71 and a beta of 2.13. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The Macerich Company has a 1-year low of $12.48 and a 1-year high of $22.27.

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 for the quarter, beating the consensus estimate of $0.31 by $0.02. Macerich had a net margin of 8.98% and a return on equity of 3.15%. The firm had revenue of $249.22 million for the quarter, compared to the consensus estimate of $221.61 million. During the same period last year, the firm posted $0.33 EPS. Macerich's quarterly revenue was up 19.3% compared to the same quarter last year. Equities research analysts predict that The Macerich Company will post 1.55 EPS for the current fiscal 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 issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend is Tuesday, June 3rd. Macerich's dividend payout ratio (DPR) is -158.14%.

Analyst Ratings Changes

A number of equities analysts recently commented on MAC shares. Piper Sandler upgraded Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 price target for the company in a research note on Thursday, May 22nd. The Goldman Sachs Group decreased their target price on Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research report on Monday, March 10th. JPMorgan Chase & Co. lowered their price target on Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a report on Monday, March 10th. Truist Financial upgraded Macerich from a "hold" rating to a "buy" rating and set a $19.00 price objective on the stock in a research note on Thursday, April 10th. Finally, Morgan Stanley decreased their price objective on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. Three investment 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. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $18.95.

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.