RBF Capital LLC Sells 30,000 Shares of Macerich Company (The) $MAC

RBF Capital LLC decreased its position in Macerich Company (The) (NYSE:MAC) by 28.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,000 shares of the real estate investment trust’s stock after selling 30,000 shares during the period. RBF Capital LLC’s holdings in Macerich were worth $1,418,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its holdings in Macerich by 76.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 585 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Macerich by 366.2% during the fourth quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 1,095 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Macerich by 80.4% in the fourth quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 684 shares in the last quarter. Triumph Capital Management purchased a new stake in shares of Macerich during the 3rd quarter valued at $33,000. Finally, Salomon & Ludwin LLC increased its holdings in Macerich by 156.6% during the fourth quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 1,336 shares during the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MAC has been the topic of several recent research reports. KeyCorp upped their price objective on shares of Macerich from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. Mizuho raised their price objective on shares of Macerich from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. JPMorgan Chase & Co. raised shares of Macerich from an “underweight” rating to a “neutral” rating and raised their price target for the company from $23.00 to $25.00 in a report on Wednesday, June 17th. Scotiabank boosted their price target on shares of Macerich from $24.00 to $27.00 and gave the company a “sector outperform” rating in a research report on Thursday, June 18th. Finally, Piper Sandler upped their price target on shares of Macerich from $21.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Macerich has a consensus rating of “Moderate Buy” and an average price target of $25.33.

Macerich Trading Down 1.9%

Shares of MAC opened at $26.02 on Thursday. Macerich Company has a 1-year low of $15.94 and a 1-year high of $26.67. The company has a market capitalization of $7.38 billion, a P/E ratio of -36.65, a P/E/G ratio of 1.87 and a beta of 2.06. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.83 and a quick ratio of 0.83. The firm’s 50 day simple moving average is $24.46 and its 200 day simple moving average is $21.48.

Macerich (NYSE:MAC) last issued its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Macerich had a negative net margin of 18.22% and a negative return on equity of 6.95%. The firm had revenue of $241.54 million for the quarter, compared to analyst estimates of $233.06 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. Sell-side analysts forecast that Macerich Company will post 1.49 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.68 annualized dividend and a yield of 2.6%. Macerich’s payout ratio is -95.77%.

About Macerich

The Macerich Company (NYSE: MAC) is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich’s core activities encompass property and asset management, leasing, marketing and redevelopment services.