SG Americas Securities LLC Increases Position in Macerich Company (The) (NYSE:MAC)

SG Americas Securities LLC boosted its position in shares of Macerich Company (The) (NYSE:MAC - Free Report) by 89.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,798 shares of the real estate investment trust's stock after purchasing an additional 23,475 shares during the quarter. SG Americas Securities LLC's holdings in Macerich were worth $855,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Vert Asset Management LLC boosted its position in Macerich by 11.3% during the 1st quarter. Vert Asset Management LLC now owns 112,971 shares of the real estate investment trust's stock valued at $1,940,000 after acquiring an additional 11,485 shares in the last quarter. GAMMA Investing LLC boosted its position in Macerich by 1,644.0% during the 1st quarter. GAMMA Investing LLC now owns 76,527 shares of the real estate investment trust's stock valued at $1,314,000 after acquiring an additional 72,139 shares in the last quarter. Fairtree Asset Management Pty Ltd bought a new stake in Macerich during the 4th quarter valued at $515,000. California State Teachers Retirement System boosted its position in Macerich by 13.4% during the 4th quarter. California State Teachers Retirement System now owns 231,559 shares of the real estate investment trust's stock valued at $4,613,000 after acquiring an additional 27,396 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in Macerich during the 4th quarter valued at $90,000. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on MAC. Scotiabank dropped their target price on Macerich from $21.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their target price on Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a research report on Monday, March 10th. Mizuho raised Macerich from a "neutral" rating to an "outperform" rating and lowered their price objective for the stock from $22.00 to $18.00 in a research report on Tuesday, June 10th. Morgan Stanley lowered their price objective on Macerich from $20.00 to $19.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. Finally, Truist Financial raised their price objective on Macerich from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Three research 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. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $18.78.

Macerich Stock Performance

MAC traded up $0.11 on Monday, reaching $16.04. 1,158,193 shares of the stock were exchanged, compared to its average volume of 1,936,750. The company's 50-day moving average price is $15.43 and its 200 day moving average price is $17.68. Macerich Company has a fifty-two week low of $12.48 and a fifty-two week high of $22.27. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $4.05 billion, a PE ratio of -37.30, a PEG ratio of 5.21 and a beta of 2.17.

Macerich (NYSE:MAC - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. The business had revenue of $249.22 million during the quarter, compared to analyst estimates of $221.61 million. Macerich had a negative return on equity of 4.37% and a negative net margin of 12.26%. The company's revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. As a group, sell-side analysts forecast that Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.24%. Macerich's payout ratio is currently -158.14%.

Macerich 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.