Balyasny Asset Management L.P. Trims Stock Holdings in The Macerich Company (NYSE:MAC)

Balyasny Asset Management L.P. cut its position in The Macerich Company (NYSE:MAC - Free Report) by 84.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,566 shares of the real estate investment trust's stock after selling 555,415 shares during the period. Balyasny Asset Management L.P.'s holdings in Macerich were worth $2,003,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of MAC. Friedenthal Financial purchased a new stake in Macerich in the 4th quarter valued at $771,000. Smartleaf Asset Management LLC lifted its position in shares of Macerich by 314.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock valued at $69,000 after acquiring an additional 2,630 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Macerich by 20.4% during the fourth quarter. Van ECK Associates Corp now owns 44,843 shares of the real estate investment trust's stock worth $893,000 after buying an additional 7,608 shares in the last quarter. New York State Teachers Retirement System raised its holdings in Macerich by 2.2% in the 4th quarter. New York State Teachers Retirement System now owns 183,508 shares of the real estate investment trust's stock valued at $3,655,000 after acquiring an additional 3,979 shares during the last quarter. Finally, FIL Ltd boosted its stake in Macerich by 4.7% in the 4th quarter. FIL Ltd now owns 1,158,518 shares of the real estate investment trust's stock worth $23,078,000 after buying an additional 51,994 shares during the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Stock Performance

Shares of NYSE:MAC traded up $0.18 on Friday, reaching $16.05. 1,705,629 shares of the company's stock were exchanged, compared to its average volume of 1,924,975. The Macerich Company has a twelve month low of $12.48 and a twelve month high of $22.27. The company has a fifty day moving average of $15.54 and a 200-day moving average of $18.46. 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 market capitalization of $4.06 billion, a price-to-earnings ratio of 41.16, a PEG ratio of 0.71 and a beta of 2.13.

Macerich (NYSE:MAC - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $249.22 million during the quarter, compared to analysts' expectations of $221.61 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. Macerich's revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 EPS. On average, research analysts predict that The Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Dividend Announcement

The firm also recently announced 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 4.24%. The ex-dividend date is Tuesday, June 3rd. Macerich's payout ratio is presently -158.14%.

Analysts Set New Price Targets

MAC has been the topic of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of 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 target price 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. The Goldman Sachs Group cut their price objective on shares of Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research report on Monday, March 10th. Piper Sandler reduced their price objective on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a report on Friday, February 28th. 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 report on Thursday, April 10th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Macerich currently has a consensus rating of "Hold" and an average target price 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.