Sei Investments Co. Acquires 174,089 Shares of Macerich Company (The) $MAC

Sei Investments Co. lifted its holdings in shares of Macerich Company (The) (NYSE:MAC) by 92.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 363,148 shares of the real estate investment trust’s stock after purchasing an additional 174,089 shares during the quarter. Sei Investments Co.’s holdings in Macerich were worth $6,863,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC raised 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 purchasing an additional 585 shares in the last quarter. Global Retirement Partners LLC grew its stake in Macerich by 366.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 1,095 shares in the last quarter. Hantz Financial Services Inc. grew its stake in Macerich by 80.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 684 shares in the last quarter. Triumph Capital Management bought a new position in shares of Macerich in the 3rd quarter worth $33,000. Finally, Salomon & Ludwin LLC increased 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 buying an additional 1,336 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MAC has been the subject of a number of research analyst reports. Evercore set a $24.00 price objective on shares of Macerich in a report on Tuesday, July 7th. Mizuho increased their target price on Macerich from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Weiss Ratings downgraded Macerich from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, July 29th. Compass Point reaffirmed 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. Finally, Jefferies Financial Group upgraded Macerich to a “strong-buy” rating in a report on Friday, June 26th. One 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 company. According to MarketBeat.com, Macerich has a consensus rating of “Moderate Buy” and an average price target of $25.33.

Macerich Trading Up 0.1%

MAC stock opened at $25.86 on Tuesday. The company has a market capitalization of $7.33 billion, a PE ratio of -36.42, a price-to-earnings-growth ratio of 1.82 and a beta of 2.07. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.83 and a current ratio of 0.83. Macerich Company has a one year low of $16.03 and a one year high of $26.67. The company’s 50 day moving average price is $24.67 and its two-hundred day moving average price is $21.64.

Macerich (NYSE:MAC) last announced its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $233.06 million. During the same quarter in the prior year, the company earned $0.33 EPS. The firm’s revenue was down 3.1% on a year-over-year basis. As a group, analysts predict that Macerich Company will post 1.49 earnings per share for the current fiscal year.

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.