Strs Ohio Decreases Position in Macerich Company (The) $MAC

Strs Ohio cut its holdings in Macerich Company (The) (NYSE:MAC) by 78.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 46,200 shares of the real estate investment trust’s stock after selling 166,500 shares during the period. Strs Ohio’s holdings in Macerich were worth $841,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MAC. Fifth Third Bancorp increased its holdings in shares of Macerich by 47.7% in the second quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 972 shares during the period. GAMMA Investing LLC increased its stake in Macerich by 14.8% in the 3rd quarter. GAMMA Investing LLC now owns 5,371 shares of the real estate investment trust’s stock worth $98,000 after purchasing an additional 691 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Macerich by 16.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,205 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 858 shares during the period. Quadrature Capital Ltd bought a new stake in Macerich in the second quarter valued at approximately $191,000. Finally, Inspire Advisors LLC boosted its stake in shares of Macerich by 14.4% during the second quarter. Inspire Advisors LLC now owns 11,858 shares of the real estate investment trust’s stock valued at $192,000 after purchasing an additional 1,489 shares during the period. 87.38% of the stock is owned by institutional investors.

Macerich Trading Up 1.3%

Shares of MAC opened at $17.95 on Thursday. Macerich Company has a 1-year low of $12.48 and a 1-year high of $21.12. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.97. The firm’s 50-day moving average price is $18.12 and its 200-day moving average price is $17.68. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of -11.29, a PEG ratio of 3.44 and a beta of 2.06.

Macerich (NYSE:MAC) last issued its quarterly earnings data on Tuesday, November 4th. The real estate investment trust reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). Macerich had a negative return on equity of 14.21% and a negative net margin of 37.97%.The company had revenue of $253.26 million during the quarter, compared to analysts’ expectations of $246.77 million. During the same quarter last year, the business earned $0.38 earnings per share. The business’s quarterly revenue was up 15.0% on a year-over-year basis. Sell-side analysts anticipate that Macerich Company will post 1.55 EPS for the current year.

Analyst Ratings Changes

MAC has been the topic of several analyst reports. Mizuho set a $21.00 target price on shares of Macerich in a research note on Friday, January 9th. Scotiabank upped their price objective on shares of Macerich from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Macerich in a research note on Thursday, January 22nd. Jefferies Financial Group reissued a “buy” rating and issued a $21.00 target price on shares of Macerich in a research note on Monday, December 15th. Finally, Truist Financial boosted their price target on Macerich from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Macerich presently has an average rating of “Hold” and an average target price of $19.76.

Macerich Company Profile

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.