Macerich Company (The) $MAC Shares Sold by Smead Capital Management Inc.

Smead Capital Management Inc. lowered its position in shares of Macerich Company (The) (NYSE:MAC) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,963,805 shares of the real estate investment trust’s stock after selling 968,119 shares during the quarter. Macerich accounts for about 5.3% of Smead Capital Management Inc.’s investment portfolio, making the stock its 6th biggest holding. Smead Capital Management Inc. owned about 5.45% of Macerich worth $257,772,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its holdings in Macerich by 76.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 585 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Macerich by 366.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 1,095 shares during the period. Triumph Capital Management acquired a new position in shares of Macerich in the third quarter valued at approximately $33,000. Salomon & Ludwin LLC boosted its holdings in shares of Macerich by 156.6% in the fourth quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 1,336 shares during the period. Finally, Danske Bank A S acquired a new position in shares of Macerich in the third quarter valued at approximately $56,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Stock Performance

Shares of MAC stock opened at $22.12 on Friday. The company’s fifty day simple moving average is $20.66 and its 200-day simple moving average is $19.21. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.96. The firm has a market cap of $5.78 billion, a PE ratio of -31.15, a P/E/G ratio of 1.51 and a beta of 2.12. Macerich Company has a 12 month low of $14.82 and a 12 month high of $22.56.

Macerich (NYSE:MAC) last announced its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $241.54 million for the quarter, compared to analyst estimates of $233.06 million. Macerich had a negative net margin of 18.22% and a negative return on equity of 6.95%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 earnings per share. Equities research analysts expect that Macerich Company will post 1.46 EPS for the current fiscal year.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, June 15th. Macerich’s payout ratio is currently -95.77%.

Analysts Set New Price Targets

MAC has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Macerich from a “sell (d)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Evercore set a $22.00 price target on shares of Macerich in a report on Friday, May 8th. Mizuho upped their price target on shares of Macerich from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Morgan Stanley set a $20.00 price target on shares of Macerich in a report on Tuesday, April 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Tuesday, March 10th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Macerich has an average rating of “Hold” and an average price target of $22.17.

Macerich Company Profile

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.