Smead Capital Management Inc. Acquires 3,043,529 Shares of The Macerich Company (NYSE:MAC)

Smead Capital Management Inc. increased its stake in The Macerich Company (NYSE:MAC – Get Rating) by 16.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,159,964 shares of the real estate investment trust’s stock after buying an additional 3,043,529 shares during the period. Macerich comprises about 5.1% of Smead Capital Management Inc.’s investment portfolio, making the stock its 10th largest position. Smead Capital Management Inc. owned approximately 0.10% of Macerich worth $238,261,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MAC. Raymond James & Associates increased its stake in shares of Macerich by 59.5% in the first quarter. Raymond James & Associates now owns 17,799 shares of the real estate investment trust’s stock worth $278,000 after buying an additional 6,640 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Macerich by 19.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 26,417 shares of the real estate investment trust’s stock worth $413,000 after buying an additional 4,253 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Macerich by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 78,076 shares of the real estate investment trust’s stock valued at $1,221,000 after purchasing an additional 7,444 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in Macerich by 5.9% during the first quarter. Great West Life Assurance Co. Can now owns 295,511 shares of the real estate investment trust’s stock valued at $4,777,000 after purchasing an additional 16,588 shares during the last quarter. Finally, Yousif Capital Management LLC increased its stake in Macerich by 1.4% during the first quarter. Yousif Capital Management LLC now owns 120,805 shares of the real estate investment trust’s stock valued at $1,889,000 after purchasing an additional 1,700 shares during the last quarter. Institutional investors own 80.81% of the company’s stock.

Macerich Price Performance

MAC traded up $0.06 on Friday, reaching $9.33. The company had a trading volume of 320,981 shares, compared to its average volume of 1,786,111. The company has a fifty day moving average of $9.81 and a 200-day moving average of $11.46. The company has a market capitalization of $2.01 billion, a P/E ratio of -22.90, a PEG ratio of 1.63 and a beta of 2.10. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.50. The Macerich Company has a one year low of $7.40 and a one year high of $14.51.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Friday, May 19th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $0.68 annualized dividend and a dividend yield of 7.29%. Macerich’s dividend payout ratio (DPR) is -170.00%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MAC. StockNews.com began coverage on shares of Macerich in a research note on Thursday, May 18th. They set a “sell” rating for the company. The Goldman Sachs Group assumed coverage on shares of Macerich in a research note on Tuesday, March 21st. They set a “sell” rating and a $8.50 target price for the company. Mizuho reduced their price target on shares of Macerich from $11.00 to $9.00 in a report on Friday. Piper Sandler lowered their price target on shares of Macerich from $11.00 to $9.00 in a research report on Friday, May 5th. Finally, VNET Group restated a “maintains” rating on shares of Macerich in a research report on Wednesday, May 17th. Five analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $11.78.

Macerich Company Profile

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Macerich Co operates as a real estate investment trust, which engages in the acquisition, ownership, development, redevelopment, management, and leasing of regional and community shopping centers located throughout the United States. The company was founded by Mace Siegel Dana K. Anderson, Arthur M. Coppola and Edward C.