The Macerich Company (NYSE:MAC) Shares Sold by Sonora Investment Management Group LLC

Sonora Investment Management Group LLC trimmed its holdings in The Macerich Company (NYSE:MAC) by 4.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 211,868 shares of the real estate investment trust’s stock after selling 10,975 shares during the quarter. Sonora Investment Management Group LLC owned 0.08% of Macerich worth $3,638,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in shares of Macerich in the 4th quarter worth approximately $30,000. Lazard Asset Management LLC acquired a new position in Macerich in the fourth quarter worth approximately $45,000. Blue Trust Inc. increased its holdings in shares of Macerich by 68.8% in the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 1,064 shares in the last quarter. State of Wyoming acquired a new stake in shares of Macerich during the 4th quarter valued at $55,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Macerich by 314.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 2,630 shares in the last quarter. Institutional investors own 87.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Macerich from $22.00 to $18.00 and set an “underweight” rating on the stock in a research report on Monday, March 10th. Truist Financial upped their price objective on shares of Macerich from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Monday. Scotiabank decreased their target price on shares of Macerich from $21.00 to $16.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group lowered their price target on shares of Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a report on Monday, March 10th. Finally, Morgan Stanley cut their price objective on Macerich from $20.00 to $19.00 and set an “equal weight” rating for the company in a report on Tuesday, April 1st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.12.

Macerich Stock Up 2.0%

Macerich stock opened at $16.43 on Tuesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The Macerich Company has a fifty-two week low of $12.48 and a fifty-two week high of $22.27. The firm has a fifty day moving average price of $15.07 and a two-hundred day moving average price of $18.04. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of 42.13, a P/E/G ratio of 0.71 and a beta of 2.17.

Macerich (NYSE:MAC) last posted its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. The business had revenue of $249.22 million during the quarter, compared to analysts’ expectations of $221.61 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 EPS. As a group, analysts forecast that The Macerich Company will post 1.55 earnings per share for the current year.

Macerich Dividend Announcement

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 $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date is Tuesday, June 3rd. 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.