Smead Capital Management Inc. Has $316.38 Million Stock Holdings in The Macerich Company (NYSE:MAC)

Smead Capital Management Inc. lessened its position in The Macerich Company (NYSE:MAC) by 0.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 20,504,170 shares of the real estate investment trust’s stock after selling 173,043 shares during the period. Macerich makes up about 5.7% of Smead Capital Management Inc.’s holdings, making the stock its 6th largest position. Smead Capital Management Inc. owned 0.10% of Macerich worth $316,379,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MAC. Anchor Investment Management LLC purchased a new position in shares of Macerich during the fourth quarter valued at approximately $40,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Macerich during the third quarter valued at approximately $36,000. Point72 Hong Kong Ltd purchased a new position in shares of Macerich during the second quarter valued at approximately $29,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Macerich by 42.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,831 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 1,136 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Macerich by 51.0% during the third quarter. CWM LLC now owns 5,409 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 1,826 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Stock Performance

Shares of MAC traded down $0.03 during mid-day trading on Thursday, hitting $15.34. The stock had a trading volume of 472,779 shares, compared to its average volume of 1,916,747. The firm has a market cap of $3.31 billion, a P/E ratio of -12.11, a PEG ratio of 1.78 and a beta of 2.33. The business has a fifty day moving average price of $16.54 and a 200-day moving average price of $14.31. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.95 and a quick ratio of 0.95. The Macerich Company has a 52 week low of $9.05 and a 52 week high of $17.69.

Macerich (NYSE:MAC) last issued its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.26). The firm had revenue of $238.70 million during the quarter, compared to the consensus estimate of $224.49 million. Macerich had a negative net margin of 31.00% and a negative return on equity of 10.26%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. On average, equities research analysts expect that The Macerich Company will post 1.8 EPS for the current year.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Friday, February 16th were paid a $0.17 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.68 annualized dividend and a dividend yield of 4.43%. Macerich’s payout ratio is presently -53.54%.

Insider Buying and Selling at Macerich

In other Macerich news, President Edward C. Coppola sold 50,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total value of $860,000.00. Following the sale, the president now directly owns 655,667 shares in the company, valued at $11,277,472.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Edward C. Coppola sold 20,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $17.01, for a total transaction of $340,200.00. Following the sale, the director now directly owns 635,667 shares in the company, valued at approximately $10,812,695.67. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Edward C. Coppola sold 50,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $17.20, for a total value of $860,000.00. Following the sale, the president now owns 655,667 shares in the company, valued at $11,277,472.40. The disclosure for this sale can be found here. Insiders have sold a total of 172,964 shares of company stock worth $2,940,030 over the last ninety days. 0.57% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MAC. StockNews.com raised Macerich from a “sell” rating to a “hold” rating in a research report on Tuesday, March 12th. Citigroup raised Macerich from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $8.00 to $17.00 in a research report on Friday, March 22nd. The Goldman Sachs Group boosted their price objective on Macerich from $9.00 to $13.00 and gave the stock a “sell” rating in a research report on Thursday, January 11th. Piper Sandler boosted their price objective on Macerich from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 20th. Finally, Truist Financial reissued a “hold” rating and issued a $16.00 price objective on shares of Macerich in a research report on Monday, March 25th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, Macerich has a consensus rating of “Hold” and an average price target of $14.40.

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.