The Macerich Company (NYSE:MAC) Shares Sold by Barclays PLC

Barclays PLC lowered its position in shares of The Macerich Company (NYSE:MAC) by 21.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 422,413 shares of the real estate investment trust’s stock after selling 113,688 shares during the quarter. Barclays PLC owned about 0.19% of Macerich worth $7,705,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Smead Capital Management Inc. raised its position in shares of Macerich by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock valued at $372,706,000 after acquiring an additional 688,790 shares in the last quarter. FMR LLC increased its stake in Macerich by 12,475.9% during the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock valued at $214,738,000 after purchasing an additional 11,679,276 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Macerich by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,801,369 shares of the real estate investment trust’s stock worth $87,577,000 after purchasing an additional 113,128 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Macerich by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,217,373 shares of the real estate investment trust’s stock worth $49,675,000 after buying an additional 126,192 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Macerich by 1.1% in the 3rd quarter. Fisher Asset Management LLC now owns 2,995,741 shares of the real estate investment trust’s stock valued at $54,642,000 after buying an additional 31,586 shares during the period. Institutional investors own 87.38% of the company’s stock.

Macerich Stock Down 6.2 %

MAC stock opened at $20.03 on Thursday. The firm’s 50-day moving average is $19.71 and its two-hundred day moving average is $17.12. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of 51.36, a price-to-earnings-growth ratio of 0.74 and a beta of 2.51. The Macerich Company has a 52 week low of $12.99 and a 52 week high of $22.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich (NYSE:MAC) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing the consensus estimate of $0.40 by ($0.90). Macerich had a return on equity of 3.15% and a net margin of 8.98%. The firm had revenue of $220.20 million for the quarter, compared to the consensus estimate of $208.54 million. During the same period in the previous year, the firm earned $0.44 EPS. Macerich’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts forecast that The Macerich Company will post 1.56 earnings per share for the current fiscal year.

Macerich Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Tuesday, November 12th. Macerich’s payout ratio is currently 174.36%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MAC shares. Compass Point raised their target price on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Evercore ISI raised their price target on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Scotiabank upgraded Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price objective for the company in a research note on Tuesday. Piper Sandler raised their target price on Macerich from $14.00 to $17.00 and gave the company an “underweight” rating in a research note on Wednesday, December 11th. Finally, Mizuho upgraded shares of Macerich from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.86.

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.