Vanguard Group Inc. Sells 33,189 Shares of Macerich Company (The) $MAC

by · The Cerbat Gem

Vanguard Group Inc. reduced its stake in shares of Macerich Company (The) (NYSE:MAC – Free Report) by 0.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,576,064 shares of the real estate investment trust’s stock after selling 33,189 shares during the quarter. Vanguard Group Inc. owned about 0.15% of Macerich worth $712,114,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB bought a new stake in Macerich during the third quarter worth approximately $5,326,000. Centersquare Investment Management LLC grew its stake in shares of Macerich by 8.9% during the third quarter. Centersquare Investment Management LLC now owns 2,546,325 shares of the real estate investment trust’s stock valued at $46,343,000 after buying an additional 207,395 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Macerich by 39.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 388,219 shares of the real estate investment trust’s stock valued at $7,066,000 after buying an additional 109,413 shares during the last quarter. Triad Investment Management bought a new position in shares of Macerich during the fourth quarter valued at approximately $3,820,000. Finally, SG Americas Securities LLC grew its stake in shares of Macerich by 1,110.2% during the third quarter. SG Americas Securities LLC now owns 185,832 shares of the real estate investment trust’s stock valued at $3,382,000 after buying an additional 170,477 shares during the last quarter. 87.38% of the stock is owned by institutional investors.

Macerich Stock Up 0.0%

Shares of NYSE MAC opened at $21.51 on Monday. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of -27.93, a PEG ratio of 1.49 and a beta of 2.12. The stock has a 50 day moving average price of $20.10 and a 200 day moving average price of $18.78. Macerich Company has a 52-week low of $14.62 and a 52-week high of $22.56.

Macerich (NYSE:MAC – Get Free Report) last announced its quarterly earnings results on Wednesday, February 18th. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.50). The firm had revenue of $261.70 million during the quarter, compared to analysts’ expectations of $260.48 million. Macerich had a negative net margin of 19.44% and a negative return on equity of 7.32%. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS. Sell-side analysts expect that Macerich Company will post 1.46 earnings per share for the current year.

Macerich Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Monday, March 16th were issued a $0.17 dividend. The ex-dividend date was Monday, March 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.2%. Macerich’s payout ratio is presently -88.31%.

Analyst Upgrades and Downgrades

MAC has been the topic of a number of analyst reports. KeyCorp set a $25.00 target price on Macerich and gave the company an “overweight” rating in a research note on Monday, February 23rd. The Goldman Sachs Group upped their target price on Macerich from $15.00 to $17.00 and gave the company a “sell” rating in a research note on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Macerich in a research note on Thursday, January 22nd. Morgan Stanley set a $20.00 target price on Macerich in a research note on Tuesday, April 14th. Finally, JPMorgan Chase & Co. upped their target price on Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Tuesday, March 10th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.77.

Read Our Latest Analysis on MAC

Macerich Profile

(Free Report)

The Macerich Company (NYSE: MAC) is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich’s core activities encompass property and asset management, leasing, marketing and redevelopment services.

See Also

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