Charles Schwab Investment Management Inc. Boosts Holdings in The Macerich Company (NYSE:MAC)

Charles Schwab Investment Management Inc. increased its holdings in The Macerich Company (NYSE:MAC) by 2.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,801,369 shares of the real estate investment trust’s stock after purchasing an additional 113,128 shares during the period. Charles Schwab Investment Management Inc. owned approximately 2.22% of Macerich worth $87,577,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MAC. Smead Capital Management Inc. boosted its position in Macerich by 3.5% during the third quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock valued at $372,706,000 after buying an additional 688,790 shares during the period. Sei Investments Co. purchased a new stake in Macerich during the 2nd quarter valued at about $10,625,000. Millennium Management LLC grew its position in Macerich by 153.0% during the 2nd quarter. Millennium Management LLC now owns 791,903 shares of the real estate investment trust’s stock worth $12,227,000 after acquiring an additional 478,930 shares during the last quarter. Candriam S.C.A. increased its stake in Macerich by 138.2% in the 2nd quarter. Candriam S.C.A. now owns 528,252 shares of the real estate investment trust’s stock worth $8,156,000 after purchasing an additional 306,509 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Macerich in the third quarter valued at approximately $4,797,000. Institutional investors own 87.38% of the company’s stock.

Macerich Trading Up 1.2 %

MAC opened at $21.19 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a 52 week low of $10.86 and a 52 week high of $21.71. The stock has a market cap of $4.78 billion, a PE ratio of 54.33, a PEG ratio of 0.69 and a beta of 2.50. The business has a 50 day moving average of $18.54 and a 200-day moving average of $16.45.

Macerich (NYSE:MAC) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). The business had revenue of $220.20 million for the quarter, compared to the consensus estimate of $208.54 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. Equities research analysts predict that The Macerich Company will post 1.59 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Tuesday, November 12th. Macerich’s dividend payout ratio is 174.36%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MAC. StockNews.com cut shares of Macerich from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Compass Point upped their price objective on shares of Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Evercore ISI raised their target price on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group upped their price target on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research report on Thursday, September 19th. Finally, Piper Sandler lifted their price objective on Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 3rd. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.40.

Macerich Profile

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.