Inceptionr LLC Purchases Shares of 41,269 Macerich Company (The) $MAC

Key Points

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Inceptionr LLC acquired a new stake in shares of Macerich Company (The) (NYSE:MAC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,269 shares of the real estate investment trust's stock, valued at approximately $780,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Fifth Third Bancorp increased its position in Macerich by 14.7% in the 1st quarter. Fifth Third Bancorp now owns 3,666 shares of the real estate investment trust's stock valued at $69,000 after buying an additional 471 shares in the last quarter. HighTower Advisors LLC raised its stake in Macerich by 1.2% during the 4th quarter. HighTower Advisors LLC now owns 46,116 shares of the real estate investment trust's stock worth $851,000 after buying an additional 530 shares during the period. Farther Finance Advisors LLC boosted its holdings 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 worth $25,000 after acquiring an additional 585 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Macerich by 2.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 24,659 shares of the real estate investment trust's stock worth $455,000 after acquiring an additional 622 shares in the last quarter. Finally, Osaic Holdings Inc. grew its stake in Macerich by 5.5% in the fourth quarter. Osaic Holdings Inc. now owns 12,116 shares of the real estate investment trust's stock valued at $224,000 after acquiring an additional 637 shares during the period. Institutional investors own 87.38% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Weiss Ratings upgraded Macerich from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, July 14th. Morgan Stanley increased their target price on Macerich from $20.00 to $25.00 and gave the stock an "equal weight" rating in a report on Thursday, June 18th. JPMorgan Chase & Co. raised shares of Macerich from an "underweight" rating to a "neutral" rating and lifted their price target for the company from $23.00 to $25.00 in a research report on Wednesday, June 17th. Piper Sandler boosted their price target on shares of Macerich from $21.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, Jefferies Financial Group upgraded shares of Macerich to a "strong-buy" rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $25.33.

Macerich Trading Up 2.0%

NYSE:MAC opened at $25.82 on Friday. Macerich Company has a 52 week low of $15.94 and a 52 week high of $26.23. The firm has a 50-day moving average price of $24.21 and a two-hundred day moving average price of $21.30. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of -36.36, a price-to-earnings-growth ratio of 1.78 and a beta of 2.06.

Macerich (NYSE:MAC - Get Free Report) last announced its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. The firm had revenue of $241.54 million for the quarter, compared to the consensus estimate of $233.06 million. Macerich had a negative return on equity of 6.95% and a negative net margin of 18.22%.The company's revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS. On average, equities analysts expect that Macerich Company will post 1.49 earnings per share for the current fiscal year.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.68 annualized dividend and a yield of 2.6%. Macerich's payout ratio is currently -95.77%.

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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