The Macerich Company (NYSE:MAC) Position Increased by Van ECK Associates Corp

Van ECK Associates Corp increased its position in shares of The Macerich Company (NYSE:MAC) by 14.6% 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 8,688 shares of the real estate investment trust’s stock after acquiring an additional 1,110 shares during the period. Van ECK Associates Corp’s holdings in The Macerich were worth $159,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of The Macerich by 16.5% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 104,606 shares of the real estate investment trust’s stock worth $1,116,000 after acquiring an additional 14,824 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of The Macerich by 37.7% during the second quarter. Mutual of America Capital Management LLC now owns 144,420 shares of the real estate investment trust’s stock worth $2,636,000 after acquiring an additional 39,539 shares in the last quarter. Madison Wealth Management purchased a new stake in shares of The Macerich during the first quarter worth $1,189,000. Price T Rowe Associates Inc. MD raised its holdings in shares of The Macerich by 11.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 72,834 shares of the real estate investment trust’s stock worth $852,000 after acquiring an additional 7,767 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in shares of The Macerich by 230.4% during the first quarter. Squarepoint Ops LLC now owns 331,500 shares of the real estate investment trust’s stock worth $3,879,000 after acquiring an additional 231,168 shares in the last quarter. Institutional investors and hedge funds own 72.98% of the company’s stock.

MAC stock opened at $17.80 on Friday. The Macerich Company has a twelve month low of $6.42 and a twelve month high of $25.99. The company has a market cap of $3.79 billion, a PE ratio of -9.94 and a beta of 2.05. The business’s 50-day simple moving average is $16.79 and its 200 day simple moving average is $15.58. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.56.

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 3.37%. 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. Morgan Stanley raised their target price on The Macerich from $13.00 to $13.50 and gave the company an “underweight” rating in a report on Thursday, August 19th. Zacks Investment Research upgraded The Macerich from a “sell” rating to a “hold” rating and set a $19.00 target price on the stock in a report on Wednesday, June 9th. Jefferies Financial Group upgraded The Macerich from an “underperform” rating to a “hold” rating and raised their target price for the company from $10.00 to $19.00 in a report on Thursday, July 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded The Macerich from a “hold” rating to a “buy” rating and raised their target price for the company from $20.00 to $24.00 in a report on Monday, June 28th. Six equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.19.

In related news, Director Steven L. Soboroff sold 20,000 shares of The Macerich stock in a transaction dated 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 is available through the SEC website. 1.94% of the stock is owned by company insiders.

The Macerich Profile

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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Institutional Ownership by Quarter for The Macerich (NYSE:MAC)

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