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

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

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC grew its holdings in shares of Macerich by 9.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,787 shares of the real estate investment trust's stock valued at $118,000 after acquiring an additional 512 shares in the last quarter. M&T Bank Corp grew its stake in shares of Macerich by 2.8% in the 4th quarter. M&T Bank Corp now owns 20,228 shares of the real estate investment trust's stock valued at $403,000 after purchasing an additional 543 shares during the period. Dorsey & Whitney Trust CO LLC grew its stake in Macerich by 5.7% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 12,234 shares of the real estate investment trust's stock worth $244,000 after buying an additional 665 shares during the last quarter. Townsquare Capital LLC increased its position in Macerich by 7.0% in the 4th quarter. Townsquare Capital LLC now owns 14,395 shares of the real estate investment trust's stock valued at $287,000 after acquiring an additional 947 shares in the last quarter. Finally, Gotham Asset Management LLC raised its position in shares of Macerich by 8.4% during the fourth quarter. Gotham Asset Management LLC now owns 12,830 shares of the real estate investment trust's stock worth $256,000 after acquiring an additional 997 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company's stock.

Macerich Trading Down 0.5%

NYSE MAC traded down $0.09 during mid-day trading on Friday, reaching $15.95. 3,048,261 shares of the stock were exchanged, compared to its average volume of 1,948,367. The stock has a market cap of $4.03 billion, a P/E ratio of -37.08, a P/E/G ratio of 5.24 and a beta of 2.17. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.09 and a quick ratio of 1.09. Macerich Company has a one year low of $12.48 and a one year high of $22.27. The stock has a 50 day simple moving average of $15.34 and a 200-day simple moving average of $17.81.

Macerich (NYSE:MAC - Get Free Report) last issued its earnings results on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. The business had revenue of $249.22 million for the quarter, compared to analyst estimates of $221.61 million. Macerich had a negative net margin of 12.26% and a negative return on equity of 4.37%. Macerich's revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 earnings per share. On average, analysts anticipate that Macerich Company will post 1.55 EPS for the current year.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend was Tuesday, June 3rd. Macerich's payout ratio is currently -158.14%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Morgan Stanley decreased their target price on Macerich from $20.00 to $19.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. JPMorgan Chase & Co. decreased 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. Truist Financial boosted their price target on Macerich from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Monday, June 9th. The Goldman Sachs Group reduced their price objective on shares of Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research note on Monday, March 10th. Finally, Scotiabank lowered their price target on Macerich from $21.00 to $16.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $18.78.

About Macerich

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.