Woodline Partners LP Takes $16.78 Million Position in The Macerich Company (NYSE:MAC)

Woodline Partners LP purchased a new position in The Macerich Company (NYSE:MAC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 842,283 shares of the real estate investment trust's stock, valued at approximately $16,778,000. Woodline Partners LP owned about 0.34% of Macerich at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. CIBC Private Wealth Group LLC grew its holdings in Macerich by 9.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,787 shares of the real estate investment trust's stock worth $118,000 after acquiring an additional 512 shares in the last quarter. M&T Bank Corp grew its holdings in Macerich by 2.8% during the 4th quarter. M&T Bank Corp now owns 20,228 shares of the real estate investment trust's stock worth $403,000 after acquiring an additional 543 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in Macerich by 5.7% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 12,234 shares of the real estate investment trust's stock worth $244,000 after acquiring an additional 665 shares in the last quarter. Custom Index Systems LLC grew its holdings in Macerich by 8.7% during the 4th quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust's stock worth $232,000 after acquiring an additional 928 shares in the last quarter. Finally, Townsquare Capital LLC lifted its position in shares of Macerich by 7.0% during the fourth quarter. Townsquare Capital LLC now owns 14,395 shares of the real estate investment trust's stock valued at $287,000 after buying an additional 947 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors.

Macerich Stock Performance

Shares of Macerich stock traded down $0.34 during midday trading on Friday, hitting $14.89. The company had a trading volume of 1,240,151 shares, compared to its average volume of 1,925,604. The Macerich Company has a 12-month low of $12.48 and a 12-month high of $22.27. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 38.17, a PEG ratio of 0.71 and a beta of 2.13. The company has a fifty day simple moving average of $15.40 and a 200 day simple moving average of $18.33.

Macerich (NYSE:MAC - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping 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 company had revenue of $249.22 million during the quarter, compared to analyst estimates of $221.61 million. During the same period last year, the firm posted $0.33 EPS. Macerich's revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, analysts predict that The Macerich Company will post 1.55 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $0.17 per share. 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 is presently -158.14%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Morgan Stanley decreased their price target on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. JPMorgan Chase & Co. decreased their price target on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a research report on Monday, March 10th. Piper Sandler raised shares of Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 price target for the company in a research report on Thursday. The Goldman Sachs Group decreased their price target on shares of Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research report on Monday, March 10th. Finally, 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 research 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. Based on data from MarketBeat, Macerich currently has a consensus rating of "Hold" and an average price target of $18.95.

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.