Advisors Preferred LLC Buys Shares of 146,351 Macerich Company (The) (NYSE:MAC)

Advisors Preferred LLC purchased a new position in Macerich Company (The) (NYSE:MAC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 146,351 shares of the real estate investment trust's stock, valued at approximately $2,497,000. Advisors Preferred LLC owned 0.06% of Macerich at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. CIBC Private Wealth Group LLC boosted its stake in Macerich by 9.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,787 shares of the real estate investment trust's stock worth $118,000 after purchasing an additional 512 shares during the period. Signaturefd LLC boosted its stake in Macerich by 34.9% in the 1st quarter. Signaturefd LLC now owns 3,329 shares of the real estate investment trust's stock worth $57,000 after purchasing an additional 862 shares during the period. Townsquare Capital LLC boosted its stake in Macerich by 7.0% in the 4th quarter. Townsquare Capital LLC now owns 14,395 shares of the real estate investment trust's stock worth $287,000 after purchasing an additional 947 shares during the period. Gotham Asset Management LLC boosted its stake in Macerich by 8.4% in the 4th quarter. Gotham Asset Management LLC now owns 12,830 shares of the real estate investment trust's stock worth $256,000 after purchasing an additional 997 shares during the period. Finally, Quantbot Technologies LP bought a new position in Macerich in the 4th quarter worth approximately $30,000. 87.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on MAC. LADENBURG THALM/SH SH began coverage on Macerich in a research report on Friday, July 18th. They set a "buy" rating and a $25.00 target price for the company. Scotiabank lowered their target price on Macerich from $21.00 to $16.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley lowered their target price on Macerich from $20.00 to $19.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. Piper Sandler upgraded Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 target price for the company in a research report on Thursday, May 22nd. Finally, Mizuho upgraded Macerich from a "neutral" rating to an "outperform" rating and decreased their price target for the company from $22.00 to $18.00 in a report on Tuesday, June 10th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $19.26.

Macerich Trading Up 0.1%

MAC stock traded up $0.02 during midday trading on Friday, reaching $17.66. The company's stock had a trading volume of 1,547,147 shares, compared to its average volume of 1,464,902. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a fifty day simple moving average of $16.19 and a two-hundred day simple moving average of $17.06. Macerich Company has a 1 year low of $12.48 and a 1 year high of $22.27. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of -41.06, a PEG ratio of 3.44 and a beta of 2.13.

Macerich (NYSE:MAC - Get Free Report) last released its earnings results on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. The business had revenue of $249.22 million for the quarter, compared to analyst estimates of $221.61 million. Macerich had a negative return on equity of 4.37% and a negative net margin of 12.26%. The business's revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 earnings per share. On average, equities research analysts predict that Macerich Company will post 1.55 EPS for the current year.

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $0.68 annualized dividend and a dividend yield of 3.85%. Macerich's dividend payout ratio is currently -158.14%.

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.