Inceptionr LLC Purchases New Stake in Macerich Company (The) $MAC

Inceptionr LLC acquired a new position in shares of Macerich Company (The) (NYSE:MAC) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 41,269 shares of the real estate investment trust’s stock, valued at approximately $780,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its stake in Macerich by 76.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 585 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of Macerich by 366.2% during the 4th 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 stake in shares of Macerich by 80.4% during the 4th quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 684 shares during the last quarter. Triumph Capital Management purchased a new stake in shares of Macerich during the 3rd quarter worth approximately $33,000. Finally, Salomon & Ludwin LLC raised its holdings in shares of Macerich by 156.6% in the 4th quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 1,336 shares during the period. Institutional investors own 87.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MAC shares. Weiss Ratings upgraded Macerich from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. KeyCorp raised 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. Truist Financial boosted their target price on Macerich from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Wall Street Zen raised Macerich from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Compass Point reiterated a “neutral” rating and set a $26.00 price target (up from $23.00) on shares of Macerich in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.33.

Macerich Stock Performance

NYSE MAC opened at $25.82 on Friday. The firm has a market cap of $7.32 billion, a P/E ratio of -36.36, a price-to-earnings-growth ratio of 1.78 and a beta of 2.06. 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’s 50 day moving average is $24.21 and its 200-day moving average is $21.30. Macerich Company has a 12-month low of $15.94 and a 12-month high of $26.23.

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 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 company had revenue of $241.54 million during the quarter, compared to the consensus estimate of $233.06 million. During the same period last year, the firm earned $0.33 EPS. Macerich’s revenue for the quarter was down 3.1% on a year-over-year basis. Sell-side analysts predict that Macerich Company will post 1.49 earnings per share for the current year.

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were given a dividend of $0.17 per share. The ex-dividend date was Monday, June 15th. This represents a $0.68 annualized dividend and a dividend yield of 2.6%. Macerich’s dividend payout ratio is currently -95.77%.

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.