Allstate Corp Has $2.10 Million Holdings in Macerich Company (The) $MAC

Allstate Corp lifted its holdings in Macerich Company (The) (NYSE:MAC) by 175.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,958 shares of the real estate investment trust’s stock after acquiring an additional 72,618 shares during the quarter. Allstate Corp’s holdings in Macerich were worth $2,104,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of MAC. Farther Finance Advisors LLC raised its position in 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 purchasing an additional 585 shares during the last quarter. Global Retirement Partners LLC raised its position in Macerich by 366.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 1,095 shares during the last quarter. Hantz Financial Services Inc. raised its position in Macerich by 80.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 684 shares during the last quarter. Triumph Capital Management bought a new position in Macerich in the 3rd quarter worth approximately $33,000. Finally, Salomon & Ludwin LLC raised its position in Macerich by 156.6% in the 4th quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 1,336 shares during the last quarter. Institutional investors own 87.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on MAC shares. The Goldman Sachs Group boosted their price objective 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. Morgan Stanley set a $20.00 price objective on shares of Macerich in a research report on Tuesday, April 14th. Wall Street Zen upgraded shares of Macerich from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded shares of Macerich from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Macerich from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 10th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.17.

Macerich Price Performance

Shares of MAC stock opened at $22.85 on Friday. Macerich Company has a 12-month low of $15.48 and a 12-month high of $22.93. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of -32.18, a price-to-earnings-growth ratio of 1.54 and a beta of 2.12. 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 fifty day moving average of $20.95 and a 200-day moving average of $19.36.

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

Macerich Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.68 annualized dividend and a dividend yield of 3.0%. Macerich’s payout ratio is -95.77%.

Macerich 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.