Macerich Company (The) $MAC Shares Acquired by Hsbc Holdings PLC

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

Other institutional investors also recently bought and sold shares of the company. Corient Private Wealth LLC acquired a new stake in shares of Macerich during the fourth quarter worth about $215,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Macerich in the 4th quarter valued at approximately $49,000. Invesco Ltd. increased its holdings in shares of Macerich by 1.7% in the fourth quarter. Invesco Ltd. now owns 613,957 shares of the real estate investment trust’s stock valued at $11,334,000 after purchasing an additional 10,287 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Macerich during the fourth quarter worth approximately $192,000. Finally, Empowered Funds LLC acquired a new stake in shares of Macerich during the fourth quarter worth $414,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Macerich Stock Performance

Shares of MAC opened at $25.48 on Wednesday. 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 52-week low of $15.89 and a 52-week high of $25.97. The company has a 50-day simple moving average of $23.31 and a 200-day simple moving average of $20.72. The company has a market capitalization of $7.22 billion, a PE ratio of -35.88, a P/E/G ratio of 1.69 and a beta of 2.06.

Macerich (NYSE:MAC) last released its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.34 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $241.54 million for the quarter, compared to the consensus estimate of $233.06 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis. Equities research analysts predict that Macerich Company will post 1.48 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, June 15th. Macerich’s dividend payout ratio (DPR) is presently -95.77%.

Wall Street Analysts Forecast Growth

MAC has been the topic of several recent research reports. Jefferies Financial Group raised shares of Macerich to a “strong-buy” rating in a research note on Friday, June 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Macerich from a “hold” rating to a “buy” rating and boosted their price target for the stock from $20.00 to $27.00 in a research note on Tuesday, June 2nd. Morgan Stanley lifted their price objective on Macerich from $20.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, June 18th. KeyCorp boosted their target price on Macerich from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Finally, LADENBURG THALM/SH SH raised their price target on Macerich from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.14.

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.