Yousif Capital Management LLC Has $1.54 Million Stock Holdings in Macerich Company (The) $MAC

Yousif Capital Management LLC increased its position in shares of Macerich Company (The) (NYSE:MAC) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,067 shares of the real estate investment trust’s stock after buying an additional 2,297 shares during the quarter. Yousif Capital Management LLC’s holdings in Macerich were worth $1,538,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MAC. Nuveen LLC acquired a new stake in Macerich during the first quarter worth about $32,554,000. T. Rowe Price Investment Management Inc. boosted its holdings in Macerich by 40.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,130,323 shares of the real estate investment trust’s stock valued at $105,258,000 after purchasing an additional 1,754,466 shares in the last quarter. Millennium Management LLC boosted its holdings in Macerich by 376.2% during the first quarter. Millennium Management LLC now owns 906,843 shares of the real estate investment trust’s stock valued at $15,570,000 after purchasing an additional 716,394 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Macerich during the first quarter valued at approximately $12,163,000. Finally, American Assets Investment Management LLC acquired a new stake in Macerich during the first quarter valued at approximately $9,868,000. 87.38% of the stock is owned by institutional investors and hedge funds.

Macerich Stock Up 1.4%

NYSE:MAC opened at $17.25 on Monday. The stock’s fifty day moving average price is $17.68 and its two-hundred day moving average price is $16.42. Macerich Company has a 52-week low of $12.48 and a 52-week high of $22.27. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market cap of $4.36 billion, a price-to-earnings ratio of -9.86, a P/E/G ratio of 3.02 and a beta of 2.23.

Macerich (NYSE:MAC) last posted its quarterly earnings data on Monday, August 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Macerich had a negative return on equity of 15.15% and a negative net margin of 41.33%.The firm had revenue of $249.79 million for the quarter, compared to analyst estimates of $245.19 million. During the same period in the prior year, the company posted $0.39 EPS. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, analysts anticipate that Macerich Company will post 1.55 EPS for the current year.

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 9th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $0.68 annualized dividend and a yield of 3.9%. Macerich’s dividend payout ratio is currently -38.86%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MAC. Evercore ISI lifted their price objective on Macerich from $18.00 to $20.00 and gave the company an “in-line” rating in a report on Monday, September 15th. Bank of America raised Macerich from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $19.00 to $23.00 in a report on Friday, September 26th. Wall Street Zen downgraded Macerich from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. lifted their price objective on Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a report on Wednesday, August 27th. Finally, LADENBURG THALM/SH SH started coverage on Macerich in a report on Friday, July 18th. They issued a “buy” rating and a $25.00 target price on the stock. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.11.

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.