Smead Capital Management Inc. Boosts Position in The Macerich Company (NYSE:MAC)

Smead Capital Management Inc. boosted its holdings in shares of The Macerich Company (NYSE:MAC) by 3.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,433,449 shares of the real estate investment trust’s stock after acquiring an additional 688,790 shares during the quarter. Macerich accounts for about 5.3% of Smead Capital Management Inc.’s portfolio, making the stock its 7th largest position. Smead Capital Management Inc. owned 0.09% of Macerich worth $372,706,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MAC. Quest Partners LLC boosted its stake in shares of Macerich by 851.9% in the 3rd quarter. Quest Partners LLC now owns 30,529 shares of the real estate investment trust’s stock valued at $557,000 after purchasing an additional 27,322 shares during the last quarter. Metis Global Partners LLC raised its holdings in Macerich by 31.1% during the third quarter. Metis Global Partners LLC now owns 22,242 shares of the real estate investment trust’s stock worth $406,000 after buying an additional 5,280 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Macerich by 7.7% in the third quarter. Victory Capital Management Inc. now owns 89,058 shares of the real estate investment trust’s stock valued at $1,624,000 after purchasing an additional 6,346 shares during the last quarter. Versor Investments LP purchased a new stake in shares of Macerich in the third quarter valued at about $516,000. Finally, Assetmark Inc. raised its holdings in shares of Macerich by 5.6% in the third quarter. Assetmark Inc. now owns 18,404 shares of the real estate investment trust’s stock valued at $336,000 after purchasing an additional 971 shares during the last quarter. 87.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research report on Thursday, September 19th. StockNews.com lowered shares of Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Compass Point increased their price target on shares of Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Evercore ISI increased their price target on shares of Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Finally, Piper Sandler increased their target price on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 3rd. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $16.40.

Macerich Price Performance

Shares of NYSE:MAC opened at $19.32 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $4.36 billion, a PE ratio of 49.54, a P/E/G ratio of 0.66 and a beta of 2.50. The Macerich Company has a twelve month low of $10.75 and a twelve month high of $20.40. The company has a 50-day moving average price of $18.10 and a two-hundred day moving average price of $16.25.

Macerich (NYSE:MAC) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $208.54 million. During the same period in the previous year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts forecast that The Macerich Company will post 1.59 EPS for the current year.

Macerich Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Tuesday, November 12th. Macerich’s payout ratio is 174.36%.

Macerich Company Profile

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.