Ameriprise Financial Inc. Increases Stock Holdings in Macerich Company (The) $MAC

Key Points

• Ameriprise Financial Inc. has increased its stake in Macerich Company by 4.6%, now owning 1.36% of the company's shares, valued at approximately $58.9 million.
• Macerich's latest quarterly earnings report showed $0.32 earnings per share (EPS), missing the estimates, but its revenue increased by 15.9% year-over-year.
• The company recently declared a quarterly dividend of $0.17 per share, which represents an annual dividend yield of 3.7%.

Ameriprise Financial Inc. increased its holdings in shares of Macerich Company (The) (NYSE:MAC - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,432,879 shares of the real estate investment trust's stock after buying an additional 152,221 shares during the quarter. Ameriprise Financial Inc. owned 1.36% of Macerich worth $58,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Macerich in the 4th quarter valued at about $450,000. First Trust Advisors LP lifted its holdings in shares of Macerich by 11.2% in the 4th quarter. First Trust Advisors LP now owns 182,221 shares of the real estate investment trust's stock valued at $3,630,000 after buying an additional 18,332 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Macerich by 64.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,155 shares of the real estate investment trust's stock valued at $222,000 after buying an additional 4,389 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Macerich by 19.0% in the 4th quarter. Hsbc Holdings PLC now owns 205,382 shares of the real estate investment trust's stock valued at $4,090,000 after buying an additional 32,860 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Macerich by 14.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 184,269 shares of the real estate investment trust's stock worth $3,671,000 after purchasing an additional 22,924 shares during the period. Institutional investors and hedge funds own 87.38% of the company's stock.

Macerich Stock Performance

Shares of MAC stock opened at $18.42 on Thursday. The stock's 50-day moving average is $16.83 and its two-hundred day moving average is $16.58. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of -10.52, a PEG ratio of 3.52 and a beta of 2.22. Macerich Company has a 1 year low of $12.48 and a 1 year high of $22.27. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.76 and a current ratio of 0.76.

Macerich (NYSE:MAC - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). The firm had revenue of $249.79 million for the quarter, compared to analysts' expectations of $245.19 million. Macerich had a negative return on equity of 15.15% and a negative net margin of 41.33%.The business's revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 EPS. Analysts predict that Macerich Company will post 1.55 earnings per share for the current year.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Tuesday, September 9th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.7%. Macerich's dividend payout ratio (DPR) is currently -38.86%.

Analysts Set New Price Targets

MAC has been the subject of a number of analyst reports. Mizuho raised Macerich from a "neutral" rating to an "outperform" rating and reduced their price target for the stock from $22.00 to $18.00 in a report on Tuesday, June 10th. Truist Financial upped their price objective on Macerich from $19.00 to $21.00 and gave the company a "buy" rating in a report on Monday, June 9th. Wall Street Zen cut Macerich from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. LADENBURG THALM/SH SH initiated coverage on Macerich in a report on Friday, July 18th. They issued a "buy" rating and a $25.00 price objective on the stock. Finally, Piper Sandler upgraded Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 price target on the stock in a research note on Thursday, May 22nd. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Macerich presently has a consensus rating of "Hold" and a consensus target price of $19.62.

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.

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