SG Americas Securities LLC Has $5.67 Million Stock Position in Macerich Company (The) $MAC

SG Americas Securities LLC increased its position in shares of Macerich Company (The) (NYSE:MAC) by 199.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 300,194 shares of the real estate investment trust’s stock after buying an additional 200,069 shares during the period. SG Americas Securities LLC owned 0.12% of Macerich worth $5,674,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Royal Bank of Canada boosted its holdings in Macerich by 20.1% during the first quarter. Royal Bank of Canada now owns 77,872 shares of the real estate investment trust’s stock valued at $1,338,000 after acquiring an additional 13,018 shares during the period. AQR Capital Management LLC increased its stake in shares of Macerich by 2.2% in the first quarter. AQR Capital Management LLC now owns 37,808 shares of the real estate investment trust’s stock worth $640,000 after purchasing an additional 813 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Macerich by 10.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 148,592 shares of the real estate investment trust’s stock worth $2,551,000 after purchasing an additional 13,782 shares during the period. Millennium Management LLC lifted its position in shares of Macerich by 376.2% during the 1st quarter. Millennium Management LLC now owns 906,843 shares of the real estate investment trust’s stock worth $15,570,000 after purchasing an additional 716,394 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Macerich by 12.8% during the 1st quarter. Empowered Funds LLC now owns 26,361 shares of the real estate investment trust’s stock worth $453,000 after purchasing an additional 2,983 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Macerich Stock Down 0.1%

MAC stock opened at $25.81 on Monday. Macerich Company has a twelve month low of $15.88 and a twelve month high of $25.97. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.96. The company has a market cap of $7.32 billion, a PE ratio of -36.35, a price-to-earnings-growth ratio of 1.73 and a beta of 2.10. The business’s 50-day simple moving average is $22.78 and its 200 day simple moving average is $20.37.

Macerich (NYSE:MAC) last posted its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. Macerich had a negative return on equity of 6.95% and a negative net margin of 18.22%.The firm had revenue of $241.54 million during the quarter, compared to analysts’ expectations of $233.06 million. During the same quarter in the prior year, the firm posted $0.33 EPS. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, research analysts anticipate that Macerich Company will post 1.48 earnings per share for the current year.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, June 15th. Macerich’s dividend payout ratio is presently -95.77%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MAC. Truist Financial raised their target price on Macerich from $20.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Wall Street Zen upgraded Macerich from a “sell” rating to a “hold” rating in a report on Saturday. Scotiabank increased their price objective on Macerich from $24.00 to $27.00 and gave the company a “sector outperform” rating in a research report on Thursday, June 18th. Jefferies Financial Group upgraded shares of Macerich to a “strong-buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. raised shares of Macerich from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $23.00 to $25.00 in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $25.00.

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.