Macerich Company (The) $MAC Shares Purchased by First Trust Advisors LP

First Trust Advisors LP raised its position in shares of Macerich Company (The) (NYSE:MAC) by 53.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 138,561 shares of the real estate investment trust’s stock after purchasing an additional 48,528 shares during the quarter. First Trust Advisors LP owned about 0.05% of Macerich worth $2,619,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC raised its holdings in shares of Macerich by 76.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 585 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in Macerich by 366.2% during the fourth 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. boosted its holdings in Macerich by 80.4% during the fourth 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 acquired a new position in Macerich in the third quarter worth approximately $33,000. Finally, Salomon & Ludwin LLC grew its position in Macerich by 156.6% in the fourth 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 and hedge funds.

Macerich Price Performance

MAC opened at $24.51 on Friday. The stock has a fifty day moving average of $24.85 and a 200-day moving average of $21.80. The firm has a market capitalization of $6.95 billion, a P/E ratio of -37.70, a PEG ratio of 1.65 and a beta of 2.07. Macerich Company has a 12-month low of $16.03 and a 12-month high of $26.67. 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 issued its earnings results on Tuesday, August 4th. The real estate investment trust reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The business had revenue of $249.71 million during 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 business’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the business earned $0.33 EPS. Equities analysts forecast that Macerich Company will post 1.49 EPS for the current fiscal year.

Macerich Dividend Announcement

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

Wall Street Analyst Weigh In

MAC has been the topic of a number of recent analyst reports. KeyCorp boosted their target price on Macerich from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Citigroup upgraded Macerich from a “neutral” rating to a “buy” rating and increased their price target for the company from $24.00 to $28.00 in a research report on Tuesday, June 23rd. Compass Point restated a “neutral” rating and set a $26.00 price objective (up from $23.00) on shares of Macerich in a report on Friday, June 26th. JPMorgan Chase & Co. upgraded Macerich from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $23.00 to $25.00 in a report on Wednesday, June 17th. Finally, Piper Sandler raised their target price on shares of Macerich from $21.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.67.

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.