Hsbc Holdings PLC Acquires 25,849 Shares of 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 increased its stake in Macerich Company (The) (NYSE:MAC - Free Report) by 12.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 231,231 shares of the real estate investment trust's stock after buying an additional 25,849 shares during the period. Hsbc Holdings PLC owned 0.09% of Macerich worth $3,968,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Lazard Asset Management LLC purchased a new stake in shares of Macerich in the fourth quarter worth $45,000. State of Wyoming purchased a new stake in shares of Macerich in the fourth quarter worth $55,000. Signaturefd LLC grew its stake in shares of Macerich by 34.9% in the first quarter. Signaturefd LLC now owns 3,329 shares of the real estate investment trust's stock worth $57,000 after acquiring an additional 862 shares during the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of Macerich in the fourth quarter worth $83,000. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of Macerich in the fourth quarter worth $90,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Stock Performance

MAC stock traded down $0.07 during trading on Monday, reaching $18.43. The stock had a trading volume of 1,060,829 shares, compared to its average volume of 1,712,325. Macerich Company has a 52 week low of $12.48 and a 52 week high of $22.27. The stock's 50 day moving average is $16.98 and its two-hundred day moving average is $16.48. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.00. The firm has a market cap of $4.66 billion, a PE ratio of -10.53, a PEG ratio of 3.55 and a beta of 2.27.

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

Macerich Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently commented on MAC shares. LADENBURG THALM/SH SH started coverage on Macerich in a research report on Friday, July 18th. They set a "buy" rating and a $25.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Macerich from $18.00 to $19.00 and gave the company an "underweight" rating in a research report on Wednesday, August 27th. Piper Sandler raised Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 price objective on the stock in a research report on Thursday, May 22nd. Mizuho raised Macerich from a "neutral" rating to an "outperform" rating and dropped their price objective for the company from $22.00 to $18.00 in a research report on Tuesday, June 10th. Finally, Scotiabank raised their price target on Macerich from $16.00 to $18.00 and gave the stock a "sector perform" rating in a research note on Thursday. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Macerich presently has a consensus rating of "Hold" and an average target price of $19.78.

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.