The Macerich Company (NYSE:MAC) Shares Bought by Perpetual Ltd

Perpetual Ltd lifted its holdings in shares of The Macerich Company (NYSE:MAC) by 24.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 55,356 shares of the real estate investment trust’s stock after purchasing an additional 10,830 shares during the quarter. Perpetual Ltd’s holdings in Macerich were worth $1,103,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Friedenthal Financial acquired a new position in shares of Macerich in the fourth quarter valued at approximately $771,000. GAMMA Investing LLC raised its position in Macerich by 36.5% during the 4th quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock worth $87,000 after buying an additional 1,174 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Macerich by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,426,909 shares of the real estate investment trust’s stock worth $99,004,000 after acquiring an additional 34,982 shares during the period. Vestcor Inc boosted its holdings in shares of Macerich by 91.4% in the third quarter. Vestcor Inc now owns 193,777 shares of the real estate investment trust’s stock valued at $3,534,000 after acquiring an additional 92,551 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Macerich by 0.7% during the third quarter. Public Employees Retirement System of Ohio now owns 314,000 shares of the real estate investment trust’s stock worth $5,727,000 after acquiring an additional 2,322 shares during the period. 87.38% of the stock is owned by institutional investors and hedge funds.

Macerich Stock Performance

Shares of MAC opened at $19.91 on Thursday. The Macerich Company has a 12-month low of $12.99 and a 12-month high of $22.27. The stock has a market cap of $4.95 billion, a P/E ratio of 51.04, a PEG ratio of 0.69 and a beta of 2.51. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The company has a 50-day moving average of $20.38 and a two-hundred day moving average of $18.02.

Macerich (NYSE:MAC) last posted its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). The company had revenue of $220.20 million during the quarter, compared to analysts’ expectations of $208.54 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. Macerich’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 EPS. As a group, research analysts predict that The Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Tuesday, November 12th. Macerich’s dividend payout ratio is presently 174.36%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Piper Sandler lifted their price objective on Macerich from $14.00 to $17.00 and gave the company an “underweight” rating in a report on Wednesday, December 11th. Compass Point lifted their price target on Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Macerich in a report on Tuesday, December 17th. They issued a “hold” rating and a $22.00 target price for the company. Scotiabank raised shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price target on the stock in a research note on Tuesday, December 17th. Finally, Morgan Stanley upgraded shares of Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 price objective for the company in a research note on Wednesday, January 15th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.30.

Insider Buying and Selling

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the sale, the director now directly owns 83,479 shares of the company’s stock, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is currently owned by company insiders.

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.