Smead Capital Management Inc. Sells 1,142,078 Shares of Macerich Company (The) $MAC

Smead Capital Management Inc. lessened its position in shares of Macerich Company (The) (NYSE:MAC) by 7.1% in the third quarter, Holdings Channel.com reports. The fund owned 14,931,924 shares of the real estate investment trust’s stock after selling 1,142,078 shares during the quarter. Macerich comprises approximately 5.2% of Smead Capital Management Inc.’s holdings, making the stock its 5th largest position. Smead Capital Management Inc. owned approximately 0.06% of Macerich worth $271,761,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB acquired a new stake in Macerich in the 3rd quarter valued at $5,326,000. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Macerich by 35.0% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 724,233 shares of the real estate investment trust’s stock worth $13,181,000 after purchasing an additional 187,900 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Macerich by 39.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 388,219 shares of the real estate investment trust’s stock worth $7,066,000 after buying an additional 109,413 shares during the period. SG Americas Securities LLC grew its stake in shares of Macerich by 1,110.2% in the third quarter. SG Americas Securities LLC now owns 185,832 shares of the real estate investment trust’s stock valued at $3,382,000 after buying an additional 170,477 shares in the last quarter. Finally, American Century Companies Inc. acquired a new stake in shares of Macerich in the second quarter valued at about $18,368,000. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on MAC. Scotiabank boosted their price target on Macerich from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 13th. Mizuho set a $21.00 target price on shares of Macerich in a research report on Friday, January 9th. Truist Financial upped their target price on shares of Macerich from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Jefferies Financial Group reiterated a “buy” rating and issued a $21.00 price objective on shares of Macerich in a report on Monday, December 15th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Macerich in a research report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.76.

Macerich Stock Up 2.4%

MAC stock opened at $20.25 on Friday. The company has a market capitalization of $5.19 billion, a P/E ratio of -26.29, a PEG ratio of 4.39 and a beta of 2.16. The firm has a 50 day simple moving average of $18.68 and a 200-day simple moving average of $17.93. The company has a current ratio of 1.02, a quick ratio of 1.03 and a debt-to-equity ratio of 2.01. Macerich Company has a twelve month low of $12.48 and a twelve month high of $20.65.

Macerich (NYSE:MAC) last posted its quarterly earnings data on Wednesday, February 18th. The real estate investment trust reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.50). The company had revenue of $261.70 million for the quarter, compared to the consensus estimate of $260.48 million. Macerich had a negative net margin of 19.44% and a negative return on equity of 7.32%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 earnings per share. On average, equities research analysts predict that Macerich Company will post 1.55 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, March 16th. Macerich’s payout ratio is currently -42.77%.

Macerich Company 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.