Macerich Company (The) $MAC Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its holdings in Macerich Company (The) (NYSE:MAC) by 1.7% during the first quarter, Holdings Channel reports. The institutional investor owned 3,848,113 shares of the real estate investment trust’s stock after purchasing an additional 65,331 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Macerich were worth $72,727,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its holdings in Macerich by 2.4% in the second quarter. State Street Corp now owns 15,162,075 shares of the real estate investment trust’s stock valued at $245,322,000 after acquiring an additional 351,907 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Macerich by 17.7% during the 4th quarter. JPMorgan Chase & Co. now owns 13,555,892 shares of the real estate investment trust’s stock worth $250,242,000 after purchasing an additional 2,034,338 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Macerich by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 6,608,318 shares of the real estate investment trust’s stock worth $122,008,000 after purchasing an additional 70,132 shares during the period. Centersquare Investment Management LLC grew its stake in shares of Macerich by 149.6% during the 4th quarter. Centersquare Investment Management LLC now owns 6,354,661 shares of the real estate investment trust’s stock worth $117,307,000 after purchasing an additional 3,808,336 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Macerich by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,039,561 shares of the real estate investment trust’s stock valued at $93,030,000 after purchasing an additional 123,769 shares in the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Stock Up 1.4%

MAC opened at $25.82 on Friday. The firm has a market cap of $7.32 billion, a P/E ratio of -36.36, a PEG ratio of 1.79 and a beta of 2.06. The business’s fifty day simple moving average is $24.60 and its 200 day simple moving average is $21.56. Macerich Company has a 52 week low of $15.94 and a 52 week high of $26.67. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.96.

Macerich (NYSE:MAC) last announced its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. Macerich had a negative net margin of 18.22% and a negative return on equity of 6.95%. The firm had revenue of $241.54 million during the quarter, compared to the consensus estimate of $233.06 million. During the same quarter in the previous year, the company posted $0.33 EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, equities research analysts anticipate that Macerich Company will post 1.49 EPS for the current fiscal year.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were given a dividend of $0.17 per share. The ex-dividend date was Monday, June 15th. This represents a $0.68 dividend on an annualized basis and a yield of 2.6%. Macerich’s dividend payout ratio (DPR) is -95.77%.

Analysts Set New Price Targets

Several brokerages recently commented on MAC. Jefferies Financial Group upgraded shares of Macerich to a “strong-buy” rating in a research note on Friday, June 26th. Truist Financial upped their target price on shares of Macerich from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. The Goldman Sachs Group increased their target price on shares of Macerich from $17.00 to $19.00 and gave the company a “sell” rating in a report on Friday, May 15th. Scotiabank lifted their price target on shares of Macerich from $24.00 to $27.00 and gave the company a “sector outperform” rating in a research report on Thursday, June 18th. Finally, Evercore set a $24.00 price target on Macerich in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.33.

About Macerich

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.