GAMMA Investing LLC boosted its position in shares of Macerich Company (The) (NYSE:MAC - Free Report) by 1,644.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,527 shares of the real estate investment trust's stock after acquiring an additional 72,139 shares during the period. GAMMA Investing LLC's holdings in Macerich were worth $1,314,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of MAC. Quantbot Technologies LP purchased a new position in Macerich in the fourth quarter valued at $30,000. Lazard Asset Management LLC purchased a new stake in shares of Macerich in the fourth quarter valued at about $45,000. State of Wyoming acquired a new stake in Macerich during the 4th quarter worth approximately $55,000. Smartleaf Asset Management LLC increased its stake in Macerich by 314.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock valued at $69,000 after buying an additional 2,630 shares during the period. Finally, Raiffeisen Bank International AG acquired a new position in shares of Macerich during the fourth quarter worth about $83,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms recently commented on MAC. Scotiabank decreased their price objective on shares of Macerich from $21.00 to $16.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price target on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a report on Monday, March 10th. Piper Sandler upgraded Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 target price on the stock in a report on Thursday, May 22nd. The Goldman Sachs Group dropped their price objective on Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research report on Monday, March 10th. Finally, Morgan Stanley decreased their target price on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $18.78.
View Our Latest Stock Report on Macerich
Macerich Trading Up 1.3%
Shares of Macerich stock traded up $0.21 during trading hours on Thursday, hitting $16.02. The company's stock had a trading volume of 1,502,890 shares, compared to its average volume of 1,943,967. The business has a fifty day moving average of $15.31 and a 200 day moving average of $17.85. Macerich Company has a 1-year low of $12.48 and a 1-year high of $22.27. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $4.05 billion, a PE ratio of -37.24, a P/E/G ratio of 5.17 and a beta of 2.17.
Macerich (NYSE:MAC - Get Free Report) last announced its quarterly 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. Macerich had a negative net margin of 12.26% and a negative return on equity of 4.37%. The firm had revenue of $249.22 million during the quarter, compared to analysts' expectations of $221.61 million. During the same period in the prior year, the company earned $0.33 EPS. The firm's revenue was up 19.3% on a year-over-year basis. As a group, equities analysts forecast that Macerich Company will post 1.55 EPS for the current year.
Macerich Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.68 annualized dividend and a dividend yield of 4.25%. Macerich's payout ratio is currently -158.14%.
Macerich Company Profile
(
Free Report)
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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