M&T Bank Corp Buys Shares of 30,165 Macerich Company (The) $MAC

M&T Bank Corp bought a new stake in shares of Macerich Company (The) (NYSE:MAC) in the 4th quarter, HoldingsChannel.com reports. The firm bought 30,165 shares of the real estate investment trust’s stock, valued at approximately $557,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Nordea Investment Management AB bought a new stake in shares of Macerich in the 3rd quarter worth about $5,326,000. Centersquare Investment Management LLC grew its stake in Macerich by 8.9% in the third quarter. Centersquare Investment Management LLC now owns 2,546,325 shares of the real estate investment trust’s stock worth $46,343,000 after purchasing an additional 207,395 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Macerich by 39.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 388,219 shares of the real estate investment trust’s stock valued at $7,066,000 after buying an additional 109,413 shares in the last quarter. Triad Investment Management bought a new position in Macerich during the 4th quarter worth approximately $3,820,000. Finally, SG Americas Securities LLC lifted its holdings in Macerich by 1,110.2% during the 3rd quarter. SG Americas Securities LLC now owns 185,832 shares of the real estate investment trust’s stock worth $3,382,000 after buying an additional 170,477 shares during the last quarter. Institutional investors own 87.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MAC shares. Wall Street Zen upgraded Macerich from a “strong sell” rating to a “hold” rating in a report on Saturday. Citigroup lifted their price objective on shares of Macerich from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. KeyCorp set a $25.00 target price on shares of Macerich and gave the company an “overweight” rating in a research note on Monday, February 23rd. Truist Financial increased their target price on shares of Macerich from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Finally, Scotiabank upgraded shares of Macerich from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $19.00 to $22.00 in a research report on Monday, March 30th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.92.

Macerich Stock Down 1.0%

Shares of Macerich stock opened at $21.66 on Tuesday. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of -30.51, a PEG ratio of 1.51 and a beta of 2.12. Macerich Company has a twelve month low of $14.82 and a twelve month high of $22.56. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.96. The business’s 50 day simple moving average is $20.23 and its 200-day simple moving average is $18.93.

Macerich (NYSE:MAC) last released its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $241.54 million during the quarter, compared to analyst estimates of $233.06 million. Macerich had a negative return on equity of 6.95% and a negative net margin of 18.22%.The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 EPS. Equities research analysts forecast that Macerich Company will post 1.46 earnings per share for the current 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 dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.68 annualized dividend and a dividend yield of 3.1%. Macerich’s payout ratio is -95.77%.

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.