Macerich Company (The) $MAC Stake Lifted by Strs Ohio

Strs Ohio lifted its stake in shares of Macerich Company (The) (NYSE:MAC) by 814.3% during the first quarter, Holdings Channel.com reports. The fund owned 409,600 shares of the real estate investment trust’s stock after purchasing an additional 364,800 shares during the period. Strs Ohio’s holdings in Macerich were worth $7,741,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in shares of Macerich by 76.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 585 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Macerich by 366.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 1,095 shares during the period. Hantz Financial Services Inc. grew its holdings in Macerich by 80.4% during the fourth quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 684 shares during the period. Triumph Capital Management bought a new stake in Macerich in the third quarter worth about $33,000. Finally, Salomon & Ludwin LLC raised its position in Macerich by 156.6% in the fourth quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 1,336 shares in the last quarter. Institutional investors own 87.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. KeyCorp raised their price objective on shares of Macerich from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, June 10th. Mizuho increased their target price on shares of Macerich from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Compass Point restated a “neutral” rating and set a $26.00 target price (up from $23.00) on shares of Macerich in a report on Friday, June 26th. The Goldman Sachs Group lifted their price target on shares of Macerich from $17.00 to $19.00 and gave the stock a “sell” rating in a research report on Friday, May 15th. Finally, Weiss Ratings cut Macerich from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $25.00.

Macerich Price Performance

NYSE MAC opened at $25.43 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.96. Macerich Company has a 1 year low of $15.89 and a 1 year high of $25.97. The company has a market cap of $7.21 billion, a PE ratio of -35.82, a PEG ratio of 1.71 and a beta of 2.06. The stock’s 50-day moving average price is $23.15 and its two-hundred day moving average price is $20.62.

Macerich (NYSE:MAC) last announced its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. The company had revenue of $241.54 million during the quarter, compared to analysts’ expectations of $233.06 million. Macerich had a negative net margin of 18.22% and a negative return on equity of 6.95%. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period last year, the company posted $0.33 earnings per share. On average, analysts predict that Macerich Company will post 1.48 EPS for the current year.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.68 dividend on an annualized basis and a yield of 2.7%. Macerich’s dividend payout ratio (DPR) is currently -95.77%.

About Macerich

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.