25,861 Shares in The Macerich Company (NYSE:MAC) Purchased by Fairtree Asset Management Pty Ltd

Fairtree Asset Management Pty Ltd bought a new stake in The Macerich Company (NYSE:MAC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 25,861 shares of the real estate investment trust’s stock, valued at approximately $515,000.

Several other large investors have also recently bought and sold shares of the stock. California State Teachers Retirement System lifted its stake in shares of Macerich by 13.4% in the 4th quarter. California State Teachers Retirement System now owns 231,559 shares of the real estate investment trust’s stock worth $4,613,000 after acquiring an additional 27,396 shares during the period. GF Fund Management CO. LTD. bought a new stake in Macerich during the fourth quarter worth approximately $90,000. Public Employees Retirement System of Ohio lifted its position in Macerich by 12.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 352,623 shares of the real estate investment trust’s stock worth $7,024,000 after purchasing an additional 38,623 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Macerich by 4.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,619,222 shares of the real estate investment trust’s stock valued at $32,255,000 after purchasing an additional 72,849 shares in the last quarter. Finally, Woodline Partners LP acquired a new position in shares of Macerich during the 4th quarter valued at $16,778,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MAC. Truist Financial upgraded shares of Macerich from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Thursday, April 10th. Scotiabank dropped their target price on shares of Macerich from $21.00 to $16.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley reduced their target price on shares of Macerich from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Tuesday, April 1st. Piper Sandler upgraded shares of Macerich from an “underweight” rating to a “neutral” rating and set a $16.00 price target on the stock in a research report on Thursday, May 22nd. Finally, The Goldman Sachs Group cut their price objective on Macerich from $16.70 to $14.40 and set a “sell” rating for the company in a research report on Monday, March 10th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.95.

Macerich Stock Performance

Shares of Macerich stock opened at $15.38 on Wednesday. The Macerich Company has a 12 month low of $12.48 and a 12 month high of $22.27. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The stock has a market cap of $3.89 billion, a PE ratio of 39.44, a price-to-earnings-growth ratio of 0.71 and a beta of 2.13. The business has a fifty day simple moving average of $15.31 and a 200-day simple moving average of $18.27.

Macerich (NYSE:MAC) last released its earnings results on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The company had revenue of $249.22 million during the quarter, compared to the consensus estimate of $221.61 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. The company’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 EPS. On average, sell-side analysts anticipate that The Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $0.68 annualized dividend and a yield of 4.42%. Macerich’s dividend payout ratio (DPR) is presently -158.14%.

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.