Geode Capital Management LLC Boosts Holdings in Macerich Company (The) $MAC

Geode Capital Management LLC increased its holdings in shares of Macerich Company (The) (NYSE:MAC) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,608,318 shares of the real estate investment trust’s stock after purchasing an additional 70,132 shares during the period. Geode Capital Management LLC owned 2.58% of Macerich worth $122,008,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in Macerich by 76.8% during 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 period. Global Retirement Partners LLC boosted its stake in Macerich by 366.2% during 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 period. Hantz Financial Services Inc. lifted its stake in shares of 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 acquiring an additional 684 shares during the period. Triumph Capital Management acquired a new stake in shares of Macerich in the 3rd quarter worth $33,000. Finally, Salomon & Ludwin LLC lifted its stake in shares of 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 acquiring an additional 1,336 shares during the period. Institutional investors and hedge funds own 87.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Macerich from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 10th. Weiss Ratings upgraded shares of Macerich from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. KeyCorp set a $25.00 target price on shares of Macerich and gave the stock an “overweight” rating in a research note on Monday, February 23rd. The Goldman Sachs Group raised their target price on shares of Macerich from $17.00 to $19.00 and gave the stock a “sell” rating in a research note on Friday, May 15th. Finally, Evercore set a $22.00 price objective on shares of Macerich in a research note on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.54.

Macerich Stock Performance

NYSE:MAC opened at $23.69 on Friday. The firm has a 50 day simple moving average of $21.45 and a 200-day simple moving average of $19.56. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market cap of $6.19 billion, a PE ratio of -33.37, a P/E/G ratio of 1.56 and a beta of 2.10. Macerich Company has a 1-year low of $15.48 and a 1-year high of $23.75.

Macerich (NYSE:MAC) last posted its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $241.54 million during 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 company’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 earnings per share. On average, equities analysts expect that Macerich Company will post 1.48 EPS for the current year.

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, June 15th. Macerich’s payout ratio is presently -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.