Hsbc Holdings PLC Grows Stock Holdings in Macerich Company (The) $MAC

Key Points

• Hsbc Holdings PLC increased its holdings in Macerich by 12.6%, owning 231,231 shares worth approximately $3.97 million as of its latest SEC filing.
• Macerich reported a quarterly earnings per share (EPS) of $0.32, missing analyst estimates by $0.02, but showed a 15.9% increase in revenue compared to the same quarter last year.
• The company recently declared a quarterly dividend of $0.17 per share, translating to an annualized dividend yield of 3.7%.

Hsbc Holdings PLC grew its holdings in Macerich Company (The) (NYSE:MAC - Free Report) by 12.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,231 shares of the real estate investment trust's stock after purchasing an additional 25,849 shares during the quarter. Hsbc Holdings PLC owned about 0.09% of Macerich worth $3,968,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MAC. Raymond James Financial Inc. purchased a new stake in shares of Macerich during the 4th quarter valued at approximately $450,000. First Trust Advisors LP grew its stake in shares of Macerich by 11.2% in the fourth quarter. First Trust Advisors LP now owns 182,221 shares of the real estate investment trust's stock worth $3,630,000 after acquiring an additional 18,332 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Macerich by 64.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,155 shares of the real estate investment trust's stock worth $222,000 after purchasing an additional 4,389 shares during the last quarter. State of Tennessee Department of Treasury lifted its position in shares of Macerich by 1.7% during the 4th quarter. State of Tennessee Department of Treasury now owns 102,801 shares of the real estate investment trust's stock worth $2,048,000 after purchasing an additional 1,715 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Macerich by 14.2% during 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 last quarter. Hedge funds and other institutional investors own 87.38% of the company's stock.

Macerich Price Performance

Shares of NYSE:MAC opened at $18.24 on Wednesday. The company has a 50-day simple moving average of $16.78 and a 200-day simple moving average of $16.57. Macerich Company has a one year low of $12.48 and a one 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. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of -10.42, a PEG ratio of 3.48 and a beta of 2.22.

Macerich (NYSE:MAC - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). Macerich had a negative return on equity of 15.15% and a negative net margin of 41.33%.The firm had revenue of $249.79 million for the quarter, compared to analyst estimates of $245.19 million. During the same quarter last year, the firm earned $0.39 earnings per share. The company's revenue was up 15.9% compared to the same quarter last year. On average, 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 will be paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 9th 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 3.7%. The ex-dividend date is Tuesday, September 9th. Macerich's payout ratio is -38.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Mizuho raised shares of Macerich from a "neutral" rating to an "outperform" rating and reduced their price target for the company from $22.00 to $18.00 in a research report on Tuesday, June 10th. Truist Financial upped their target price on shares of Macerich from $19.00 to $21.00 and gave the company a "buy" rating in a report on Monday, June 9th. Piper Sandler raised shares of Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 target price for the company in a report on Thursday, May 22nd. Wall Street Zen cut shares of Macerich from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Macerich in a report on Friday, July 18th. They issued a "buy" rating and a $25.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $19.26.

Macerich Company 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.

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