Metis Global Partners LLC Increases Stock Holdings in Macerich Company (The) $MAC

Metis Global Partners LLC boosted its position in shares of Macerich Company (The) (NYSE:MAC) by 32.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,779 shares of the real estate investment trust’s stock after acquiring an additional 10,293 shares during the period. Metis Global Partners LLC’s holdings in Macerich were worth $676,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in Macerich by 5.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,246,236 shares of the real estate investment trust’s stock valued at $36,344,000 after purchasing an additional 124,596 shares during the period. Strs Ohio raised its position in shares of Macerich by 358.4% in the second quarter. Strs Ohio now owns 212,700 shares of the real estate investment trust’s stock worth $3,441,000 after buying an additional 166,300 shares in the last quarter. Amalgamated Bank boosted its stake in Macerich by 1.4% during the second quarter. Amalgamated Bank now owns 71,834 shares of the real estate investment trust’s stock valued at $1,162,000 after buying an additional 991 shares during the period. Teacher Retirement System of Texas grew its position in Macerich by 5.7% during the second quarter. Teacher Retirement System of Texas now owns 38,318 shares of the real estate investment trust’s stock worth $620,000 after buying an additional 2,074 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Macerich by 4,844.6% in the 2nd quarter. Bessemer Group Inc. now owns 36,590 shares of the real estate investment trust’s stock worth $592,000 after acquiring an additional 35,850 shares during the last quarter. Institutional investors own 87.38% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Evercore ISI lifted their price target on Macerich from $18.00 to $20.00 and gave the company an “in-line” rating in a research report on Monday, September 15th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Macerich in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on shares of Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Wednesday, August 27th. Bank of America raised shares of Macerich from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $19.00 to $23.00 in a report on Friday, September 26th. Finally, LADENBURG THALM/SH SH began coverage on Macerich in a research note on Friday, July 18th. They issued a “buy” rating and a $25.00 target price on the stock. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $19.87.

Macerich Stock Down 2.0%

Shares of NYSE:MAC opened at $17.58 on Thursday. The stock has a market capitalization of $4.50 billion, a P/E ratio of -10.04, a price-to-earnings-growth ratio of 2.96 and a beta of 2.25. The stock’s 50-day moving average price is $17.61 and its 200-day moving average price is $16.84. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.00. Macerich Company has a 12-month low of $12.48 and a 12-month high of $22.27.

Macerich (NYSE:MAC) last issued its earnings results on Tuesday, November 4th. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $253.26 million for the quarter, compared to analysts’ expectations of $246.77 million. Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 earnings per share. On average, equities analysts anticipate that Macerich Company will post 1.55 earnings per share for the current year.

Macerich Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Investors of record on Monday, December 15th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, December 15th. Macerich’s payout ratio is presently -42.77%.

About Macerich

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.