Verition Fund Management LLC Buys 821,782 Shares of Macerich Company (The) $MAC

Verition Fund Management LLC raised its stake in shares of Macerich Company (The) (NYSE:MAC) by 536.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 974,969 shares of the real estate investment trust’s stock after acquiring an additional 821,782 shares during the period. Verition Fund Management LLC owned approximately 0.38% of Macerich worth $17,998,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MAC. Farther Finance Advisors LLC lifted its stake in shares of Macerich by 76.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 585 shares during the period. Global Retirement Partners LLC grew its holdings in 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 buying an additional 1,095 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in 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 valued at $28,000 after buying an additional 684 shares in the last quarter. Triumph Capital Management purchased a new position in shares of Macerich in the third quarter valued at $33,000. Finally, Salomon & Ludwin LLC grew its holdings in shares of Macerich by 156.6% in the fourth quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 1,336 shares in the last quarter. Institutional investors own 87.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Macerich from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. KeyCorp raised their target price on shares of Macerich from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. Morgan Stanley set a $20.00 target price on shares of Macerich in a report on Tuesday, April 14th. Mizuho raised their target price on shares of Macerich from $23.00 to $24.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Macerich from a “hold” rating to a “buy” rating and raised their target price for the company from $20.00 to $27.00 in a report on Tuesday, June 2nd. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.69.

Macerich Stock Down 1.7%

Shares of MAC opened at $25.03 on Tuesday. The company has a market cap of $6.54 billion, a PE ratio of -35.25, a P/E/G ratio of 1.71 and a beta of 2.10. The business has a fifty day moving average of $22.13 and a 200 day moving average of $19.92. Macerich Company has a 52-week low of $15.48 and a 52-week high of $25.72. 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 (NYSE:MAC) last issued its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The company had revenue of $241.54 million during the quarter, compared to the consensus estimate of $233.06 million. Macerich had a negative return on equity of 6.95% and a negative net margin of 18.22%.Macerich’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. On average, sell-side analysts expect that Macerich Company will post 1.48 EPS for the current year.

Macerich Dividend Announcement

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

Macerich Company 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.