Wealth Science Advisors LLC Takes Position in Macerich Company (The) $MAC

Key Points

• Wealth Science Advisors acquired 41,731 Macerich shares worth approximately $1.05 million in the second quarter. Institutional investors collectively own 87.38% of the REIT’s outstanding stock.
• Analyst sentiment is generally favorable: Macerich has a consensus “Moderate Buy” rating and an average price target of $25.67, with several firms recently upgrading the stock or raising targets.
• Macerich reported quarterly revenue of $249.71 million, above estimates, but posted an EPS loss of $0.10 that missed expectations. The company declared a quarterly dividend of $0.17 per share, representing a 2.8% annualized yield.

Wealth Science Advisors LLC bought a new position in Macerich Company (The) (NYSE:MAC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 41,731 shares of the real estate investment trust's stock, valued at approximately $1,051,000.

Several other hedge funds also recently made changes to their positions in MAC. Farther Finance Advisors LLC boosted its position in Macerich by 76.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 585 shares during the period. Global Retirement Partners LLC increased 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 valued at $26,000 after acquiring an additional 1,095 shares during the period. Hantz Financial Services Inc. increased its position 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 acquiring an additional 684 shares during the period. Triumph Capital Management bought a new position in shares of Macerich during the third quarter valued at about $33,000. Finally, Salomon & Ludwin LLC raised its stake in shares of Macerich by 156.6% during the fourth quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust's stock valued at $41,000 after acquiring an additional 1,336 shares during the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Jefferies Financial Group raised Macerich to a "strong-buy" rating in a research note on Friday, June 26th. Morgan Stanley upped their price target on Macerich from $20.00 to $25.00 and gave the company an "equal weight" rating in a research report on Thursday, June 18th. The Goldman Sachs Group increased their price objective on Macerich from $17.00 to $19.00 and gave the stock a "sell" rating in a report on Friday, May 15th. Deutsche Bank Aktiengesellschaft upgraded Macerich from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $20.00 to $27.00 in a research report on Tuesday, June 2nd. Finally, Citigroup raised Macerich from a "neutral" rating to a "buy" rating and boosted their target price for the company from $24.00 to $28.00 in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Macerich currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.67.

Macerich Trading Up 4.3%

Shares of MAC opened at $24.51 on Friday. The firm's 50-day moving average price is $24.85 and its 200-day moving average price is $21.80. The firm has a market capitalization of $6.95 billion, a price-to-earnings ratio of -37.70, a PEG ratio of 1.72 and a beta of 2.07. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 1.67. Macerich Company has a 1-year low of $16.03 and a 1-year high of $26.67.

Macerich (NYSE:MAC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $249.71 million for the quarter, compared to analysts' expectations of $239.77 million. During the same quarter in the prior year, the firm earned $0.33 EPS. Macerich's quarterly revenue was up .0% compared to the same quarter last year. Sell-side analysts anticipate that Macerich Company will post 1.49 EPS for the current year.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Monday, September 14th will be issued a dividend of $0.17 per share. The ex-dividend date 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 is -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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