VIRGINIA RETIREMENT SYSTEMS ET Al Sells 162,450 Shares of Macerich Company (The) $MAC

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its holdings in shares of Macerich Company (The) (NYSE:MAC) by 22.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 561,783 shares of the real estate investment trust’s stock after selling 162,450 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Macerich were worth $10,371,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of MAC. Farther Finance Advisors LLC lifted its position in Macerich by 76.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 585 shares during the last quarter. Triumph Capital Management bought a new stake in Macerich in the third quarter worth $33,000. Salomon & Ludwin LLC lifted its position in Macerich by 156.6% in the fourth quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 1,336 shares during the last quarter. Danske Bank A S bought a new stake in Macerich in the third quarter worth $56,000. Finally, International Assets Investment Management LLC bought a new stake in Macerich in the fourth quarter worth $98,000. Institutional investors own 87.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings upgraded Macerich from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday. Scotiabank upgraded Macerich from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $19.00 to $22.00 in a research report on Monday, March 30th. Truist Financial raised their price target on Macerich from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. The Goldman Sachs Group raised their price target on Macerich from $15.00 to $17.00 and gave the stock a “sell” rating in a research report on Monday, March 2nd. Finally, Evercore set a $22.00 price target on Macerich in a research report on Friday, May 8th. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.15.

Macerich Stock Down 1.2%

NYSE:MAC opened at $21.98 on Thursday. Macerich Company has a twelve month low of $14.82 and a twelve month high of $22.56. The company has a market cap of $5.74 billion, a price-to-earnings ratio of -30.95, a price-to-earnings-growth ratio of 1.51 and a beta of 2.12. The stock has a fifty day simple moving average of $20.30 and a 200-day simple moving average of $18.99. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.96.

Macerich (NYSE:MAC) last released its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. Macerich had a negative return on equity of 6.95% and a negative net margin of 18.22%.The business had revenue of $241.54 million during the quarter, compared to the consensus estimate of $233.06 million. During the same period last year, the company earned $0.33 earnings per share. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. Analysts anticipate that Macerich Company will post 1.46 EPS for the current year.

Macerich Dividend Announcement

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 paid a dividend of $0.17 per share. The ex-dividend date is Monday, June 15th. This represents a $0.68 annualized dividend and a dividend yield of 3.1%. Macerich’s dividend payout ratio (DPR) is currently -95.77%.

Macerich Company 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.