SG Americas Securities LLC lessened its position in The Macerich Company (NYSE:MAC – Get Rating) by 41.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,971 shares of the real estate investment trust’s stock after selling 30,628 shares during the period. SG Americas Securities LLC’s holdings in Macerich were worth $688,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of MAC. State Street Corp grew its holdings in Macerich by 8.0% during the fourth quarter. State Street Corp now owns 11,421,422 shares of the real estate investment trust’s stock worth $197,362,000 after purchasing an additional 843,369 shares during the period. Smead Capital Management Inc. lifted its position in shares of Macerich by 19.1% in the fourth quarter. Smead Capital Management Inc. now owns 9,986,613 shares of the real estate investment trust’s stock valued at $172,569,000 after buying an additional 1,603,435 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Macerich by 11.5% during the 4th quarter. Northern Trust Corp now owns 4,408,725 shares of the real estate investment trust’s stock worth $76,183,000 after acquiring an additional 453,813 shares during the last quarter. Geode Capital Management LLC raised its stake in Macerich by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 4,232,148 shares of the real estate investment trust’s stock valued at $73,131,000 after acquiring an additional 322,708 shares during the period. Finally, Epoch Investment Partners Inc. acquired a new stake in Macerich during the 4th quarter valued at $51,220,000. 84.57% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Macerich
In related news, President Edward C. Coppola bought 40,000 shares of the company’s stock in a transaction dated Friday, June 10th. The stock was purchased at an average price of $10.28 per share, with a total value of $411,200.00. Following the completion of the acquisition, the president now owns 515,739 shares of the company’s stock, valued at $5,301,796.92. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, President Edward C. Coppola bought 40,000 shares of the firm’s stock in a transaction on Friday, June 10th. The shares were purchased at an average price of $10.28 per share, with a total value of $411,200.00. Following the completion of the purchase, the president now owns 515,739 shares in the company, valued at approximately $5,301,796.92. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Edward C. Coppola purchased 60,000 shares of the company’s stock in a transaction dated Thursday, June 30th. The stock was purchased at an average price of $8.75 per share, with a total value of $525,000.00. Following the completion of the purchase, the president now directly owns 575,739 shares in the company, valued at approximately $5,037,716.25. The disclosure for this purchase can be found here. Insiders have acquired a total of 125,000 shares of company stock worth $1,173,450 over the last 90 days. Insiders own 1.77% of the company’s stock.
Macerich Price Performance
Macerich (NYSE:MAC – Get Rating) last announced its quarterly earnings data on Monday, May 9th. The real estate investment trust reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.63). The firm had revenue of $216.10 million during the quarter, compared to the consensus estimate of $209.20 million. Macerich had a net margin of 4.30% and a return on equity of 1.18%. The business’s revenue was up 13.5% compared to the same quarter last year. During the same period last year, the business earned $0.45 earnings per share. On average, equities research analysts predict that The Macerich Company will post 1.96 EPS for the current fiscal year.
Macerich Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 8th. Investors of record on Friday, August 19th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 5.95%. The ex-dividend date is Thursday, August 18th. Macerich’s dividend payout ratio (DPR) is presently 333.33%.
Analyst Ratings Changes
Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Macerich from $23.00 to $17.00 in a report on Monday, July 18th. Truist Financial cut their price objective on shares of Macerich from $18.00 to $14.00 and set a “hold” rating for the company in a research report on Tuesday, June 21st. Wells Fargo & Company decreased their target price on Macerich from $17.00 to $15.00 and set an “underweight” rating on the stock in a research report on Thursday, April 7th. Piper Sandler reduced their price target on Macerich to $9.00 in a research note on Monday, July 4th. Finally, The Goldman Sachs Group decreased their price objective on Macerich from $13.50 to $12.00 and set a “sell” rating on the stock in a report on Friday, May 20th. Six investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $15.95.
Macerich Company Profile
Macerich is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.
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