Macerich Company (The) $MAC Shares Purchased by Strs Ohio

Strs Ohio boosted its holdings in shares of Macerich Company (The) (NYSE:MAC) by 814.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 409,600 shares of the real estate investment trust’s stock after purchasing an additional 364,800 shares during the quarter. Strs Ohio owned approximately 0.16% of Macerich worth $7,741,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MAC. Farther Finance Advisors LLC increased its stake in shares of Macerich by 76.8% in the fourth 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 during the last quarter. Global Retirement Partners LLC grew its position in shares of 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 acquiring an additional 1,095 shares in the last quarter. Hantz Financial Services Inc. increased its holdings 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 valued at $28,000 after acquiring an additional 684 shares during the last quarter. Triumph Capital Management bought a new stake in shares of Macerich in the 3rd quarter valued at approximately $33,000. Finally, Salomon & Ludwin LLC lifted its stake in Macerich by 156.6% during the fourth 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. 87.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Compass Point reissued 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. Evercore set a $22.00 price objective on shares of Macerich in a research report on Friday, May 8th. The Goldman Sachs Group increased their price objective 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. LADENBURG THALM/SH SH lifted their target price on Macerich from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Finally, Morgan Stanley upped their target price on Macerich from $20.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Macerich Stock Down 0.1%

MAC stock opened at $25.43 on Monday. The stock has a market cap of $7.21 billion, a PE ratio of -35.82, a price-to-earnings-growth ratio of 1.71 and a beta of 2.06. The firm’s 50-day simple moving average is $23.15 and its 200 day simple moving average is $20.62. Macerich Company has a fifty-two week low of $15.89 and a fifty-two week high of $25.97. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.96.

Macerich (NYSE:MAC) last posted 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 firm 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%. Macerich’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 EPS. As a group, sell-side analysts predict that Macerich Company will post 1.48 EPS for the current year.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Monday, June 15th. Macerich’s payout ratio 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.