UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stock Position in Macerich Company (The) $MAC

Key Points

• UBS Asset Management significantly increased its Macerich stake by 16,284.9% in the second quarter, acquiring 1.8 million additional shares. It ended the period with 1.81 million shares, valued at approximately $45.5 million.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $26, compared with Macerich’s reported opening price of $23.43.
• Macerich reported a quarterly loss of $0.10 per share, missing estimates, while revenue of $249.7 million exceeded forecasts. The REIT also declared a quarterly dividend of $0.17 per share, equivalent to a 2.9% annualized yield.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Macerich Company (The) (NYSE:MAC - Free Report) by 16,284.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,807,253 shares of the real estate investment trust's stock after acquiring an additional 1,796,223 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.64% of Macerich worth $45,525,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its position in shares of Macerich by 76.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 585 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in Macerich by 366.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 1,095 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in Macerich by 80.4% during the 4th quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 684 shares during the last quarter. Triumph Capital Management purchased a new stake in shares of Macerich during the third quarter worth $33,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Macerich during the second quarter worth $36,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MAC has been the subject of a number of analyst reports. Citigroup upped their price target on Macerich from $28.00 to $29.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. LADENBURG THALM/SH SH boosted their price objective on Macerich from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Tuesday, June 16th. Compass Point reaffirmed a "neutral" rating and issued a $26.00 target price (up from $23.00) on shares of Macerich in a research note on Friday, June 26th. Griffin Securities set a $26.00 target price on Macerich in a research note on Tuesday, August 18th. Finally, Wall Street Zen raised shares of Macerich from a "sell" rating to a "hold" rating in a research report on Saturday, June 27th. 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $26.00.

Macerich Trading Down 0.4%

Shares of Macerich stock opened at $23.43 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.67. The company has a fifty day simple moving average of $25.00 and a 200-day simple moving average of $22.53. The stock has a market cap of $6.64 billion, a price-to-earnings ratio of -36.04, a PEG ratio of 1.69 and a beta of 2.06. Macerich Company has a 12-month low of $16.03 and a 12-month high of $26.67.

Macerich (NYSE:MAC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported ($0.10) EPS 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 firm had revenue of $249.71 million during the quarter, compared to analyst estimates of $239.77 million. During the same quarter in the previous year, the business earned $0.33 EPS. Macerich's revenue for the quarter was up .0% on a year-over-year basis. On average, equities analysts forecast that Macerich Company will post 1.49 EPS for the current fiscal year.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Monday, September 14th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, September 14th. Macerich's dividend payout ratio (DPR) is presently -104.62%.

About Macerich

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source