Macerich Company (The) $MAC Shares Bought by Vanderbilt University

Vanderbilt University grew its holdings in Macerich Company (The) (NYSE:MAC) by 47.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,275 shares of the real estate investment trust’s stock after purchasing an additional 32,674 shares during the quarter. Vanderbilt University’s holdings in Macerich were worth $1,639,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MAC. Nuveen LLC acquired a new stake in shares of Macerich in the first quarter valued at approximately $32,554,000. T. Rowe Price Investment Management Inc. boosted its position in Macerich by 40.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,130,323 shares of the real estate investment trust’s stock worth $105,258,000 after acquiring an additional 1,754,466 shares during the last quarter. Millennium Management LLC boosted its position in Macerich by 376.2% during the first quarter. Millennium Management LLC now owns 906,843 shares of the real estate investment trust’s stock worth $15,570,000 after acquiring an additional 716,394 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Macerich during the first quarter worth approximately $12,163,000. Finally, American Assets Investment Management LLC acquired a new stake in Macerich during the first quarter worth approximately $9,868,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Macerich Stock Performance

NYSE:MAC opened at $17.91 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.00. The company has a market cap of $4.53 billion, a P/E ratio of -10.24, a P/E/G ratio of 2.99 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. The firm’s 50 day moving average is $17.60 and its two-hundred day moving average is $16.43.

Macerich (NYSE:MAC) last posted its earnings results 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). Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The business had revenue of $249.79 million for the quarter, compared to analyst estimates of $245.19 million. During the same quarter in the previous year, the firm posted $0.39 EPS. The business’s revenue was up 15.9% compared to the same quarter last year. Analysts expect that Macerich Company will post 1.55 EPS for the current year.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 9th were given a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $0.68 annualized dividend and a yield of 3.8%. Macerich’s dividend payout ratio (DPR) is -38.86%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MAC shares. Truist Financial raised their target price on shares of Macerich from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Scotiabank raised their target price on shares of Macerich from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 28th. LADENBURG THALM/SH SH started coverage on shares of Macerich in a research report on Friday, July 18th. They set a “buy” rating and a $25.00 target price on the stock. Bank of America upgraded shares of Macerich from a “neutral” rating to a “buy” rating and raised their target price for the stock from $19.00 to $23.00 in a research report on Friday, September 26th. Finally, Wall Street Zen downgraded shares of Macerich from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.