Inspire Investing LLC Acquires 5,993 Shares of Macerich Company (The) $MAC

Inspire Investing LLC grew its holdings in Macerich Company (The) (NYSE:MAC) by 25.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 29,322 shares of the real estate investment trust’s stock after buying an additional 5,993 shares during the quarter. Inspire Investing LLC’s holdings in Macerich were worth $474,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MAC. Nuveen LLC bought a new stake in shares of Macerich in the 1st quarter valued at about $32,554,000. T. Rowe Price Investment Management Inc. raised its stake in shares of Macerich by 40.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,130,323 shares of the real estate investment trust’s stock worth $105,258,000 after acquiring an additional 1,754,466 shares in the last quarter. Millennium Management LLC raised its stake in shares of Macerich by 376.2% during the 1st quarter. Millennium Management LLC now owns 906,843 shares of the real estate investment trust’s stock worth $15,570,000 after acquiring an additional 716,394 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Macerich during the 1st quarter worth approximately $12,163,000. Finally, American Assets Investment Management LLC bought a new position in shares of Macerich during the 1st quarter worth approximately $9,868,000. Institutional investors own 87.38% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MAC. Scotiabank boosted their price objective on shares of Macerich from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 28th. LADENBURG THALM/SH SH began coverage on shares of Macerich in a research note on Friday, July 18th. They set a “buy” rating and a $25.00 price objective for the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Macerich in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on shares of Macerich from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 27th. Finally, Bank of America raised shares of Macerich from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $19.00 to $23.00 in a research report on Friday, September 26th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $20.11.

Macerich Stock Down 3.1%

NYSE:MAC opened at $16.53 on Monday. The company has a market cap of $4.18 billion, a PE ratio of -9.45, a P/E/G ratio of 2.88 and a beta of 2.23. Macerich Company has a twelve month low of $12.48 and a twelve month high of $22.27. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.00. The company’s 50 day moving average is $17.65 and its two-hundred day moving average is $16.41.

Macerich (NYSE:MAC) last released its earnings results on Monday, August 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). The company had revenue of $249.79 million for the quarter, compared to analysts’ expectations of $245.19 million. Macerich had a negative return on equity of 15.15% and a negative net margin of 41.33%.The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 EPS. Analysts anticipate that Macerich Company will post 1.55 EPS for the current year.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 9th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, September 9th. Macerich’s dividend payout ratio is -38.86%.

Macerich Company Profile

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.