Corient Private Wealth LP Takes Position in Macerich Company (The) $MAC

Corient Private Wealth LP bought a new stake in Macerich Company (The) (NYSE:MAC) in the second quarter, HoldingsChannel reports. The fund bought 82,941 shares of the real estate investment trust’s stock, valued at approximately $2,089,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in Macerich by 76.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 585 shares during the period. Global Retirement Partners LLC lifted its stake in Macerich by 366.2% in the fourth 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 during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Macerich in the second quarter valued at approximately $36,000. Hantz Financial Services Inc. boosted its holdings in shares of Macerich by 80.4% in the fourth quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 684 shares during the period. Finally, Triumph Capital Management purchased a new position in shares of Macerich during the third quarter worth approximately $33,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Piper Sandler raised shares of Macerich from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $28.00 to $30.00 in a report on Thursday, August 27th. Truist Financial raised their price objective on shares of Macerich from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Scotiabank lifted their price objective on shares of Macerich from $24.00 to $27.00 and gave the company a “sector outperform” rating in a research note on Thursday, June 18th. JPMorgan Chase & Co. raised shares of Macerich from an “underweight” rating to a “neutral” rating and upped their target price for the company from $23.00 to $25.00 in a report on Wednesday, June 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Macerich from a “hold” rating to a “buy” rating and increased their target price for the stock from $20.00 to $27.00 in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Macerich has a consensus rating of “Moderate Buy” and an average target price of $26.00.

Macerich Price Performance

Shares of NYSE MAC opened at $23.43 on Thursday. The stock has a fifty day moving average price of $25.00 and a 200 day moving average price of $22.53. Macerich Company has a 1-year low of $16.03 and a 1-year high of $26.67. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $6.64 billion, a PE ratio of -36.04, a P/E/G ratio of 1.69 and a beta of 2.06.

Macerich (NYSE:MAC) last announced 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). The firm had revenue of $249.71 million during the quarter, compared to analyst estimates of $239.77 million. Macerich had a negative net margin of 16.85% and a negative return on equity of 6.26%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 earnings per share. Sell-side analysts forecast that Macerich Company will post 1.49 EPS for the current year.

Macerich Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Monday, September 14th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.68 annualized dividend and a dividend yield of 2.9%. Macerich’s 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.