Macerich Company (The) $MAC Shares Bought by Centersquare Investment Management LLC

Centersquare Investment Management LLC raised its stake in Macerich Company (The) (NYSE:MAC) by 149.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,354,661 shares of the real estate investment trust’s stock after purchasing an additional 3,808,336 shares during the period. Macerich comprises 1.2% of Centersquare Investment Management LLC’s portfolio, making the stock its 28th largest holding. Centersquare Investment Management LLC’s holdings in Macerich were worth $117,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of MAC. Farther Finance Advisors LLC boosted its stake in shares of 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 worth $25,000 after buying an additional 585 shares during the period. Global Retirement Partners LLC boosted its stake in shares of Macerich by 366.2% during the fourth 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. boosted its stake in shares of Macerich by 80.4% during the fourth quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 684 shares during the period. Triumph Capital Management acquired a new stake in shares of Macerich during the third quarter worth about $33,000. Finally, Salomon & Ludwin LLC boosted its stake in shares of Macerich by 156.6% during 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 period. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Trading Up 2.5%

NYSE MAC opened at $25.03 on Friday. The stock has a market capitalization of $6.54 billion, a P/E ratio of -35.26, a P/E/G ratio of 1.64 and a beta of 2.10. Macerich Company has a 52-week low of $15.48 and a 52-week high of $25.09. The firm has a 50-day moving average price of $21.90 and a 200 day moving average price of $19.81. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.96.

Macerich (NYSE:MAC) last posted its quarterly earnings results 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 analysts’ expectations of $233.06 million. Macerich had a negative net margin of 18.22% and a negative return on equity of 6.95%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 earnings per share. Equities research analysts expect that Macerich Company will post 1.48 EPS for the current year.

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.68 dividend on an annualized basis and a yield of 2.7%. Macerich’s dividend payout ratio (DPR) is -95.77%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MAC. KeyCorp increased their target price on shares of Macerich from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group increased 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. Deutsche Bank Aktiengesellschaft raised shares of Macerich from a “hold” rating to a “buy” rating and increased their price target for the stock from $20.00 to $27.00 in a report on Tuesday, June 2nd. Evercore set a $22.00 price target on shares of Macerich in a report on Friday, May 8th. Finally, Mizuho increased their price target on shares of Macerich from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Macerich presently has an average rating of “Hold” and an average price target of $22.69.

About Macerich

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.