Wealth Science Advisors LLC Makes New $1.05 Million Investment in Macerich Company (The) $MAC

Wealth Science Advisors LLC acquired a new stake in shares of Macerich Company (The) (NYSE:MAC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 41,731 shares of the real estate investment trust’s stock, valued at approximately $1,051,000.

A number of other hedge funds have also recently modified their holdings of MAC. GAMMA Investing LLC increased its stake in shares of Macerich by 16.3% in the 2nd quarter. GAMMA Investing LLC now owns 9,056 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 1,270 shares in the last quarter. Bank of America Corp DE boosted its stake in Macerich by 117.7% during the first quarter. Bank of America Corp DE now owns 2,240,478 shares of the real estate investment trust’s stock worth $42,345,000 after acquiring an additional 1,211,091 shares in the last quarter. Kentucky Retirement Systems bought a new stake in Macerich during the first quarter worth about $219,000. Amundi grew its holdings in Macerich by 17.2% in the first quarter. Amundi now owns 162,916 shares of the real estate investment trust’s stock worth $3,079,000 after purchasing an additional 23,944 shares during the period. Finally, Adelante Capital Management LLC bought a new position in shares of Macerich during the first quarter valued at approximately $8,136,000. Institutional investors own 87.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Evercore set a $25.00 target price on shares of Macerich in a report on Thursday. The Goldman Sachs Group upped their price target on Macerich from $17.00 to $19.00 and gave the stock a “sell” rating in a research note on Friday, May 15th. Scotiabank raised their price objective on Macerich from $24.00 to $27.00 and gave the company a “sector outperform” rating in a research report on Thursday, June 18th. Compass Point reiterated a “neutral” rating and set a $26.00 price objective (up from $23.00) on shares of Macerich in a research note on Friday, June 26th. Finally, Morgan Stanley boosted their target price on Macerich from $20.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.67.

Macerich Price Performance

Shares of MAC opened at $24.51 on Friday. Macerich Company has a twelve month low of $16.03 and a twelve month high of $26.67. The company has a market capitalization of $6.95 billion, a P/E ratio of -37.70, a price-to-earnings-growth ratio of 1.72 and a beta of 2.07. The firm has a 50 day moving average of $24.85 and a 200 day moving average of $21.80. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 1.67.

Macerich (NYSE:MAC) last released its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). Macerich had a negative net margin of 16.85% and a negative return on equity of 6.26%. The business had revenue of $249.71 million during the quarter, compared to the consensus estimate of $239.77 million. During the same period last year, the company posted $0.33 earnings per share. The business’s revenue was up .0% compared to the same quarter last year. As a group, equities research analysts anticipate that Macerich Company will post 1.49 earnings per share for the current fiscal year.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Monday, September 14th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, September 14th. Macerich’s dividend payout ratio is presently -104.62%.

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.