RBF Capital LLC Sells 30,000 Shares of Macerich Company (The) $MAC

RBF Capital LLC decreased its stake in shares of Macerich Company (The) (NYSE:MAC) by 28.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 75,000 shares of the real estate investment trust’s stock after selling 30,000 shares during the period. RBF Capital LLC’s holdings in Macerich were worth $1,418,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position 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 valued at $25,000 after purchasing an additional 585 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of 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 buying an additional 1,095 shares during the period. Hantz Financial Services Inc. grew its stake in 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 buying an additional 684 shares during the last quarter. Triumph Capital Management acquired a new position in Macerich in the 3rd quarter valued at $33,000. Finally, Salomon & Ludwin LLC increased its stake in shares of 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 purchasing an additional 1,336 shares during the period. Institutional investors own 87.38% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Macerich from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. The Goldman Sachs Group boosted 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. Evercore set a $24.00 target price on shares of Macerich in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft raised Macerich from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $20.00 to $27.00 in a research note on Tuesday, June 2nd. Finally, Compass Point restated a “neutral” rating and set a $26.00 price objective (up from $23.00) on shares of Macerich in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $25.33.

Macerich Price Performance

Shares of NYSE MAC opened at $26.02 on Thursday. Macerich Company has a twelve month low of $15.94 and a twelve month high of $26.67. The business’s 50 day moving average price is $24.46 and its two-hundred day moving average price is $21.48. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.96. The company has a market cap of $7.38 billion, a PE ratio of -36.65, a price-to-earnings-growth ratio of 1.87 and a beta of 2.06.

Macerich (NYSE:MAC) last issued its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.34 earnings per share (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 the consensus estimate of $233.06 million. Macerich had a negative net margin of 18.22% and a negative return on equity of 6.95%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the business posted $0.33 earnings per share. On average, analysts predict that Macerich Company will post 1.49 EPS for the current year.

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, June 15th. Macerich’s dividend payout ratio is -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.