Hsbc Holdings PLC Buys 140,121 Shares of Macerich Company (The) $MAC

Hsbc Holdings PLC raised its stake in Macerich Company (The) (NYSE:MAC) by 19.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 853,351 shares of the real estate investment trust’s stock after buying an additional 140,121 shares during the period. Hsbc Holdings PLC owned about 0.33% of Macerich worth $15,751,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Centersquare Investment Management LLC boosted its holdings in Macerich by 8.9% in the third quarter. Centersquare Investment Management LLC now owns 2,546,325 shares of the real estate investment trust’s stock valued at $46,343,000 after acquiring an additional 207,395 shares during the last quarter. DigitalBridge Group Inc. acquired a new stake in Macerich during the 3rd quarter valued at approximately $9,146,000. Triad Investment Management bought a new position in Macerich during the 4th quarter worth approximately $3,820,000. American Century Companies Inc. lifted its position in shares of Macerich by 16.1% in the 3rd quarter. American Century Companies Inc. now owns 1,317,513 shares of the real estate investment trust’s stock worth $23,979,000 after purchasing an additional 182,291 shares during the period. Finally, APG Asset Management US Inc. lifted its position in shares of Macerich by 29.7% in the 3rd quarter. APG Asset Management US Inc. now owns 1,351,135 shares of the real estate investment trust’s stock worth $24,320,000 after purchasing an additional 309,544 shares during the period. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Stock Performance

NYSE:MAC opened at $25.51 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.96. Macerich Company has a twelve month low of $15.79 and a twelve month high of $25.80. The company has a fifty day moving average of $22.70 and a 200-day moving average of $20.31. The firm has a market capitalization of $7.23 billion, a P/E ratio of -35.93, a P/E/G ratio of 1.70 and a beta of 2.10.

Macerich (NYSE:MAC) last issued its earnings results on Wednesday, May 6th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. Macerich had a negative net margin of 18.22% and a negative return on equity of 6.95%. The business had revenue of $241.54 million for the quarter, compared to analyst estimates of $233.06 million. During the same period in the prior year, the firm earned $0.33 earnings per share. Macerich’s revenue was down 3.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Macerich Company will post 1.48 EPS for the current year.

Macerich Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a $0.17 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.68 annualized dividend and a dividend yield of 2.7%. Macerich’s dividend payout ratio (DPR) is currently -95.77%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MAC. The Goldman Sachs Group boosted their target price on shares of Macerich from $17.00 to $19.00 and gave the company a “sell” rating in a report on Friday, May 15th. KeyCorp increased their price target on Macerich from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Mizuho lifted their price objective on Macerich from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Evercore set a $22.00 price objective on Macerich in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. upgraded Macerich from an “underweight” rating to a “neutral” rating and upped their target price for the company from $23.00 to $25.00 in a research report on Wednesday, June 17th. Nine equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $24.92.

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.