3,625,338 Shares in Macerich Company (The) $MAC Purchased by Norges Bank

Norges Bank purchased a new position in Macerich Company (The) (NYSE:MAC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,625,338 shares of the real estate investment trust’s stock, valued at approximately $66,924,000.

Other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in Macerich by 76.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 585 shares during the period. Global Retirement Partners LLC increased its stake in Macerich by 366.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 1,095 shares during the period. Hantz Financial Services Inc. increased its stake in Macerich by 80.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 684 shares during the period. Triumph Capital Management purchased a new position in Macerich in the 3rd quarter worth about $33,000. Finally, Salomon & Ludwin LLC increased its stake in Macerich by 156.6% in the 4th 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 period. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on MAC shares. Evercore set a $22.00 price target on shares of Macerich in a research note on Friday, May 8th. Morgan Stanley set a $20.00 price target on shares of Macerich in a research note on Tuesday, April 14th. The Goldman Sachs Group raised their price target on shares of Macerich from $17.00 to $19.00 and gave the stock a “sell” rating in a research note on Friday, May 15th. Mizuho raised their target price 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. Finally, Wall Street Zen downgraded shares of Macerich from a “hold” rating to a “sell” rating in a research report on Saturday. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $22.54.

Macerich Stock Up 2.0%

NYSE:MAC opened at $23.69 on Friday. Macerich Company has a fifty-two week low of $15.48 and a fifty-two week high of $23.75. The stock has a market capitalization of $6.19 billion, a P/E ratio of -33.37, a P/E/G ratio of 1.59 and a beta of 2.10. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.83 and a current ratio of 0.83. The company’s 50-day simple moving average is $21.45 and its 200-day simple moving average is $19.56.

Macerich (NYSE:MAC) last released its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.34 earnings per share for the quarter, beating 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 business had revenue of $241.54 million for the quarter, compared to analysts’ expectations of $233.06 million. During the same period last year, the business earned $0.33 EPS. The company’s revenue was down 3.1% compared to the same quarter last year. On average, equities analysts anticipate that Macerich Company will post 1.48 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, June 15th. Macerich’s dividend payout ratio (DPR) is currently -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.