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

Geode Capital Management LLC grew its holdings in shares of Macerich Company (The) (NYSE:MAC) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,608,318 shares of the real estate investment trust’s stock after buying an additional 70,132 shares during the quarter. Geode Capital Management LLC’s holdings in Macerich were worth $122,008,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. State Street Corp boosted its stake in shares of Macerich by 2.4% in the second quarter. State Street Corp now owns 15,162,075 shares of the real estate investment trust’s stock valued at $245,322,000 after purchasing an additional 351,907 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Macerich by 73.2% in the third quarter. JPMorgan Chase & Co. now owns 11,521,554 shares of the real estate investment trust’s stock valued at $209,692,000 after purchasing an additional 4,868,844 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Macerich by 13.4% in the second quarter. Ameriprise Financial Inc. now owns 3,894,230 shares of the real estate investment trust’s stock valued at $63,014,000 after purchasing an additional 461,351 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Macerich by 5.8% in the third quarter. Dimensional Fund Advisors LP now owns 3,746,730 shares of the real estate investment trust’s stock valued at $68,185,000 after purchasing an additional 203,828 shares during the period. Finally, Bamco Inc. NY boosted its stake in shares of Macerich by 18.9% in the third quarter. Bamco Inc. NY now owns 2,909,869 shares of the real estate investment trust’s stock valued at $52,960,000 after purchasing an additional 463,102 shares during the period. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Macerich Trading Up 2.0%

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

Macerich (NYSE:MAC) last released its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $241.54 million for the quarter, compared to analysts’ expectations of $233.06 million. During the same quarter last year, the company earned $0.33 EPS. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities analysts expect that Macerich Company will post 1.48 earnings per share for the current year.

Macerich Dividend Announcement

The company also recently disclosed 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 dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, June 15th. Macerich’s dividend payout ratio (DPR) is -95.77%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MAC shares. The Goldman Sachs Group upped their target price on shares of Macerich from $17.00 to $19.00 and gave the company a “sell” rating in a research note on Friday, May 15th. Mizuho upped their price target on shares of Macerich from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Wall Street Zen cut shares of Macerich from a “hold” rating to a “sell” rating in a report on Saturday. Citigroup upped their price target on shares of Macerich from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Tuesday, March 10th. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Macerich currently has an average rating of “Hold” and an average target price of $22.54.

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.