VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 536,333 Macerich Company (The) $MAC

Key Points

• VIRGINIA RETIREMENT SYSTEMS ET Al acquired 536,333 shares of Macerich Company valued at approximately $8.68 million, representing around 0.21% of the company's stock.
• Macerich recently reported $0.32 earnings per share for the last quarter, falling short of estimates, despite an annual revenue growth of 15.9%.
• The company's dividend yield stands at 4.0% with a quarterly dividend payout of $0.17 per share, indicating a negative dividend payout ratio of -38.86%.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Macerich Company (The) (NYSE:MAC - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 536,333 shares of the real estate investment trust's stock, valued at approximately $8,678,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.21% of Macerich at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Bayforest Capital Ltd bought a new position in Macerich in the 2nd quarter worth approximately $346,000. TD Asset Management Inc boosted its holdings in Macerich by 6.0% in the 2nd quarter. TD Asset Management Inc now owns 60,802 shares of the real estate investment trust's stock worth $984,000 after buying an additional 3,460 shares during the period. Yousif Capital Management LLC boosted its holdings in Macerich by 2.5% in the 2nd quarter. Yousif Capital Management LLC now owns 95,067 shares of the real estate investment trust's stock worth $1,538,000 after buying an additional 2,297 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Macerich by 19.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 30,792 shares of the real estate investment trust's stock worth $498,000 after buying an additional 4,981 shares during the period. Finally, Concurrent Investment Advisors LLC bought a new position in Macerich in the 2nd quarter worth approximately $386,000. 87.38% of the stock is owned by institutional investors.

Macerich Stock Performance

Macerich stock opened at $17.15 on Tuesday. The firm's fifty day moving average price is $17.69 and its 200-day moving average price is $16.44. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $4.33 billion, a P/E ratio of -9.80, a price-to-earnings-growth ratio of 3.02 and a beta of 2.23. Macerich Company has a fifty-two week low of $12.48 and a fifty-two week high of $22.27.

Macerich (NYSE:MAC - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). The company had revenue of $249.79 million for the quarter, compared to analysts' expectations of $245.19 million. Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The business's quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS. On average, equities research analysts expect that Macerich Company will post 1.55 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 9th were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, September 9th. This represents a $0.68 annualized dividend and a dividend yield of 4.0%. Macerich's dividend payout ratio (DPR) is -38.86%.

Analysts Set New Price Targets

MAC has been the subject of several analyst reports. Wall Street Zen downgraded shares of Macerich from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Bank of America raised shares of Macerich from a "neutral" rating to a "buy" rating and raised their price target for the company from $19.00 to $23.00 in a report on Friday, September 26th. JPMorgan Chase & Co. raised their price target on shares of Macerich from $18.00 to $19.00 and gave the company an "underweight" rating in a report on Wednesday, August 27th. LADENBURG THALM/SH SH started coverage on shares of Macerich in a report on Friday, July 18th. They issued a "buy" rating and a $25.00 price target for the company. Finally, Scotiabank raised their price target on shares of Macerich from $16.00 to $18.00 and gave the company a "sector perform" rating in a report on Thursday, August 28th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Macerich presently has an average rating of "Hold" and an average target price of $20.11.

About Macerich

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.

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