OVERSEA CHINESE BANKING Corp Ltd Sells 36,902 Shares of Macerich Company (The) $MAC

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in Macerich Company (The) (NYSE:MAC) by 49.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,190 shares of the real estate investment trust’s stock after selling 36,902 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Macerich were worth $677,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in shares of Macerich by 47.7% during the second quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 972 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Macerich by 14.8% during the third quarter. GAMMA Investing LLC now owns 5,371 shares of the real estate investment trust’s stock valued at $98,000 after purchasing an additional 691 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Macerich by 16.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,205 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 858 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Macerich in the 2nd quarter worth about $191,000. Finally, Inspire Advisors LLC grew its position in Macerich by 14.4% in the 2nd quarter. Inspire Advisors LLC now owns 11,858 shares of the real estate investment trust’s stock worth $192,000 after purchasing an additional 1,489 shares in the last quarter. 87.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MAC has been the topic of a number of research analyst reports. Mizuho set a $21.00 target price on Macerich in a research note on Friday, January 9th. Jefferies Financial Group reaffirmed a “buy” rating and set a $21.00 target price on shares of Macerich in a research report on Monday, December 15th. Truist Financial cut their price target on shares of Macerich from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, December 19th. Weiss Ratings restated a “sell (d+)” rating on shares of Macerich in a report on Wednesday, October 8th. Finally, Scotiabank increased their target price on shares of Macerich from $18.00 to $19.00 and gave the company a “sector perform” rating in a research report on Thursday, November 13th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $19.67.

Macerich Price Performance

Shares of NYSE:MAC opened at $18.33 on Friday. The firm has a market capitalization of $4.69 billion, a PE ratio of -11.53, a P/E/G ratio of 3.53 and a beta of 2.06. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.97. The company has a 50-day moving average price of $17.92 and a two-hundred day moving average price of $17.54. Macerich Company has a twelve month low of $12.48 and a twelve month high of $21.12.

Macerich (NYSE:MAC) last released its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The company had revenue of $253.26 million for the quarter, compared to the consensus estimate of $246.77 million. Macerich had a negative net margin of 37.97% and a negative return on equity of 14.21%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 earnings per share. Equities analysts forecast that Macerich Company will post 1.55 EPS for the current year.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 15th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, December 15th. Macerich’s dividend payout ratio is -42.77%.

Macerich 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.