SG Americas Securities LLC decreased its holdings in shares of Macerich (NYSE:MAC) by 18.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,931 shares of the real estate investment trust’s stock after selling 5,112 shares during the period. SG Americas Securities LLC’s holdings in Macerich were worth $1,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of MAC. Delpha Capital Management LLC bought a new stake in shares of Macerich during the 4th quarter valued at $156,000. Tower Research Capital LLC TRC grew its position in shares of Macerich by 870.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,260 shares of the real estate investment trust’s stock valued at $214,000 after acquiring an additional 2,924 shares during the period. Harvest Management LLC bought a new stake in shares of Macerich during the 1st quarter valued at $224,000. Miracle Mile Advisors LLC bought a new stake in shares of Macerich during the 4th quarter valued at $250,000. Finally, Virtu Financial LLC bought a new stake in shares of Macerich during the 4th quarter valued at $254,000. 95.20% of the stock is owned by hedge funds and other institutional investors.
MAC has been the subject of a number of recent research reports. SunTrust Banks set a $57.00 price objective on shares of Macerich and gave the company a “hold” rating in a research report on Tuesday, April 3rd. Sandler O’Neill reaffirmed a “hold” rating and issued a $71.00 target price on shares of Macerich in a report on Tuesday, January 23rd. Mizuho raised shares of Macerich from a “neutral” rating to a “buy” rating in a report on Friday, April 20th. JPMorgan Chase downgraded shares of Macerich from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $70.00 to $65.00 in a report on Tuesday, March 27th. Finally, Deutsche Bank dropped their target price on shares of Macerich from $65.00 to $62.00 and set a “hold” rating for the company in a report on Friday, February 9th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $65.10.
Shares of MAC stock opened at $55.14 on Tuesday. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 2.06 and a beta of 0.85. Macerich has a 52 week low of $52.12 and a 52 week high of $69.73. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.98 and a current ratio of 0.98.
Macerich (NYSE:MAC) last announced its quarterly earnings results on Wednesday, May 2nd. The real estate investment trust reported ($0.24) EPS for the quarter, missing the consensus estimate of $0.81 by ($1.05). The company had revenue of $212.38 million during the quarter, compared to analysts’ expectations of $216.47 million. Macerich had a return on equity of 1.48% and a net margin of 4.40%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 EPS. equities analysts expect that Macerich will post 3.96 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Tuesday, May 8th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 5.37%. The ex-dividend date is Monday, May 7th. Macerich’s payout ratio is currently 75.32%.
Macerich Company Profile
Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 53 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.
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