Hsbc Holdings PLC Takes Position in Macerich Company (The) $MAC

Hsbc Holdings PLC purchased a new position in shares of Macerich Company (The) (NYSE:MAC) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 901,988 shares of the real estate investment trust’s stock, valued at approximately $22,722,000.

Other hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board bought a new stake in Macerich in the second quarter valued at about $81,946,000. Legal & General Group Plc acquired a new stake in Macerich during the second quarter valued at approximately $42,780,000. The Manufacturers Life Insurance Company bought a new position in Macerich during the 2nd quarter worth approximately $3,519,000. Sanctuary Advisors LLC bought a new position in Macerich during the 2nd quarter worth approximately $511,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Macerich in the 2nd quarter worth approximately $36,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Citigroup boosted their price target on Macerich from $28.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Jefferies Financial Group upgraded Macerich to a “strong-buy” rating in a research note on Friday, June 26th. Wall Street Zen raised shares of Macerich from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. The Goldman Sachs Group boosted their target price on shares of Macerich from $17.00 to $19.00 and gave the company a “sell” rating in a research note on Friday, May 15th. Finally, LADENBURG THALM/SH SH increased their target price on shares of Macerich from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Macerich presently has a consensus rating of “Moderate Buy” and an average price target of $25.88.

Macerich Stock Down 0.9%

NYSE:MAC opened at $23.95 on Friday. The firm has a market capitalization of $6.79 billion, a PE ratio of -36.85, a price-to-earnings-growth ratio of 1.74 and a beta of 2.07. The stock has a 50 day moving average of $25.06 and a 200-day moving average of $22.39. Macerich Company has a 52 week low of $16.03 and a 52 week high of $26.67. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.67.

Macerich (NYSE:MAC) last announced its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The company had revenue of $249.71 million for the quarter, compared to analyst estimates of $239.77 million. Macerich had a negative return on equity of 6.26% and a negative net margin of 16.85%.The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 earnings per share. Analysts predict that Macerich Company will post 1.49 EPS for the current year.

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Monday, September 14th will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.68 annualized dividend and a yield of 2.8%. Macerich’s dividend payout ratio (DPR) is currently -104.62%.

About Macerich

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.