Hsbc Holdings PLC Takes Position in Macerich Company (The) $MAC

Key Points

• Hsbc Holdings PLC acquired 901,988 Macerich shares during the second quarter, worth approximately $22.7 million and representing about 0.32% of the REIT. Institutional investors and hedge funds collectively own 87.38% of MAC.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $25.88. Recent target increases ranged from $19 to $30, although Goldman Sachs maintained a “sell” rating.
• Macerich reported quarterly revenue of $249.71 million but missed adjusted earnings expectations, posting a loss of $0.10 per share versus the expected $0.05 loss. The company declared a quarterly dividend of $0.17 per share, equivalent to a 2.8% annualized yield.

Hsbc Holdings PLC bought a new stake in shares of Macerich Company (The) (NYSE:MAC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 901,988 shares of the real estate investment trust's stock, valued at approximately $22,722,000. Hsbc Holdings PLC owned approximately 0.32% of Macerich at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its position in Macerich by 76.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 585 shares during the period. Global Retirement Partners LLC boosted its position in shares of Macerich by 366.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust's stock worth $26,000 after buying an additional 1,095 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Macerich in the second quarter valued at about $36,000. Hantz Financial Services Inc. grew its stake in shares of Macerich by 80.4% in the fourth quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 684 shares in the last quarter. Finally, Triumph Capital Management purchased a new stake in shares of Macerich during the 3rd quarter valued at about $33,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MAC. Griffin Securities set a $26.00 price target on Macerich in a research report on Tuesday, August 18th. LADENBURG THALM/SH SH increased their price objective on shares of Macerich from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, June 16th. The Goldman Sachs Group lifted their price objective on shares of Macerich from $17.00 to $19.00 and gave the company a "sell" rating in a research note on Friday, May 15th. Weiss Ratings raised shares of Macerich from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, August 12th. Finally, Truist Financial upped their target price on shares of Macerich from $20.00 to $26.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $25.88.

Macerich Trading Down 0.9%

NYSE:MAC opened at $23.95 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.88 and a current ratio of 0.88. Macerich Company has a one year low of $16.03 and a one year high of $26.67. The business's 50-day simple moving average is $25.06 and its 200 day simple moving average is $22.39. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of -36.85, a price-to-earnings-growth ratio of 1.74 and a beta of 2.07.

Macerich (NYSE:MAC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). Macerich had a negative net margin of 16.85% and a negative return on equity of 6.26%. The business had revenue of $249.71 million for the quarter, compared to analyst estimates of $239.77 million. During the same quarter last year, the business earned $0.33 EPS. Macerich's revenue for the quarter was up .0% compared to the same quarter last year. As a group, sell-side analysts predict that Macerich Company will post 1.49 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Monday, September 14th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.8%. Macerich's dividend payout ratio (DPR) is presently -104.62%.

Macerich Profile

The Macerich Company NYSE: MAC is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich's core activities encompass property and asset management, leasing, marketing and redevelopment services.

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