Vert Asset Management LLC Purchases 11,485 Shares of The Macerich Company (NYSE:MAC)

Vert Asset Management LLC increased its position in shares of The Macerich Company (NYSE:MAC) by 11.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 112,971 shares of the real estate investment trust’s stock after purchasing an additional 11,485 shares during the period. Vert Asset Management LLC’s holdings in Macerich were worth $1,940,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of MAC. Vanguard Group Inc. lifted its position in Macerich by 13.2% in the fourth quarter. Vanguard Group Inc. now owns 38,617,446 shares of the real estate investment trust’s stock worth $769,260,000 after purchasing an additional 4,503,509 shares during the period. FMR LLC raised its stake in shares of Macerich by 87.3% in the 4th quarter. FMR LLC now owns 22,047,786 shares of the real estate investment trust’s stock valued at $439,192,000 after buying an additional 10,274,895 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Macerich by 845.9% during the 4th quarter. Wellington Management Group LLP now owns 10,051,286 shares of the real estate investment trust’s stock worth $200,222,000 after acquiring an additional 8,988,665 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Macerich by 10.6% during the 4th quarter. Geode Capital Management LLC now owns 6,001,399 shares of the real estate investment trust’s stock worth $119,573,000 after acquiring an additional 574,490 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Macerich by 7.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,171,300 shares of the real estate investment trust’s stock valued at $103,012,000 after acquiring an additional 369,931 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Scotiabank dropped their price target on shares of Macerich from $21.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their target price on Macerich from $22.00 to $18.00 and set an “underweight” rating for the company in a report on Monday, March 10th. Morgan Stanley cut their target price on Macerich from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st. Truist Financial raised Macerich from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Thursday, April 10th. Finally, The Goldman Sachs Group lowered their price target on Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a research report on Monday, March 10th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Macerich has an average rating of “Hold” and an average target price of $18.95.

Macerich Price Performance

Macerich stock opened at $16.12 on Monday. The business’s fifty day moving average is $15.09 and its two-hundred day moving average is $18.06. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $4.07 billion, a P/E ratio of 41.32, a P/E/G ratio of 0.71 and a beta of 2.17. The Macerich Company has a 52 week low of $12.48 and a 52 week high of $22.27.

Macerich (NYSE:MAC) last issued its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. Macerich had a net margin of 8.98% and a return on equity of 3.15%. The business had revenue of $249.22 million for the quarter, compared to the consensus estimate of $221.61 million. During the same quarter in the prior year, the company earned $0.33 EPS. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. Equities research analysts forecast that The Macerich Company will post 1.55 earnings per share for the current fiscal year.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend is Tuesday, June 3rd. Macerich’s dividend payout ratio (DPR) is presently -158.14%.

Macerich Company 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.