State of Wisconsin Investment Board increased its position in shares of The Macerich Company (NYSE:MAC) by 40.7% 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 49,315 shares of the real estate investment trust’s stock after acquiring an additional 14,275 shares during the period. State of Wisconsin Investment Board’s holdings in The Macerich were worth $900,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in The Macerich by 43.9% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 55,727 shares of the real estate investment trust’s stock valued at $1,017,000 after buying an additional 17,003 shares in the last quarter. Natixis Advisors L.P. raised its holdings in The Macerich by 70.0% during the second quarter. Natixis Advisors L.P. now owns 210,140 shares of the real estate investment trust’s stock valued at $3,835,000 after buying an additional 86,510 shares in the last quarter. SeaCrest Wealth Management LLC raised its holdings in The Macerich by 15.7% during the second quarter. SeaCrest Wealth Management LLC now owns 57,541 shares of the real estate investment trust’s stock valued at $1,050,000 after buying an additional 7,799 shares in the last quarter. Bank of Montreal Can raised its holdings in The Macerich by 186.1% during the second quarter. Bank of Montreal Can now owns 30,051 shares of the real estate investment trust’s stock valued at $555,000 after buying an additional 19,549 shares in the last quarter. Finally, Prospera Financial Services Inc bought a new position in The Macerich during the second quarter valued at about $2,082,000. Institutional investors and hedge funds own 72.98% of the company’s stock.
In other The Macerich news, Director Steven L. Soboroff sold 20,000 shares of The Macerich stock in a transaction that occurred on Wednesday, September 22nd. The stock was sold at an average price of $17.72, for a total transaction of $354,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Christopher J. Zecchini sold 3,000 shares of The Macerich stock in a transaction that occurred on Monday, September 27th. The shares were sold at an average price of $18.15, for a total transaction of $54,450.00. The disclosure for this sale can be found here. 1.94% of the stock is owned by company insiders.
The Macerich (NYSE:MAC) last released its earnings results on Tuesday, August 3rd. The real estate investment trust reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.50). The Macerich had a negative return on equity of 10.81% and a negative net margin of 36.62%. The firm had revenue of $215.47 million for the quarter, compared to analyst estimates of $189.58 million. During the same period last year, the business earned $0.39 earnings per share. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. On average, equities research analysts anticipate that The Macerich Company will post 1.9 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 8th. Investors of record on Thursday, August 19th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Wednesday, August 18th. The Macerich’s dividend payout ratio (DPR) is presently 27.78%.
Several research firms have weighed in on MAC. Citigroup raised their target price on The Macerich from $11.00 to $17.00 and gave the company a “sell” rating in a report on Thursday, July 1st. Scotiabank raised their target price on The Macerich from $16.00 to $19.00 and gave the company a “sector perform” rating in a report on Monday, June 28th. BTIG Research dropped their price objective on The Macerich to $35.00 and set a “buy” rating on the stock in a research note on Friday, August 27th. Truist Securities lifted their price objective on The Macerich from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Monday, September 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded The Macerich from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $20.00 to $24.00 in a research note on Monday, June 28th. Six analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $17.19.
About The Macerich
Macerich Co operates as a real estate investment trust, which engages in the acquisition, ownership, development, redevelopment, management and leasing of regional and community shopping centers located throughout the United States. It conducts all of its operations through the operating partnership and the management companies.
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