Jupiter Topco LLC Takes Position in Macerich Company (The) $MAC

Jupiter Topco LLC bought a new position in shares of Macerich Company (The) (NYSE:MAC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 112,834 shares of the real estate investment trust’s stock, valued at approximately $2,844,000.

Several other large investors have also added to or reduced their stakes in MAC. Farther Finance Advisors LLC boosted its stake in Macerich by 76.8% during the 4th 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 during the last quarter. Global Retirement Partners LLC raised its stake in shares of 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 worth $26,000 after purchasing an additional 1,095 shares during the last quarter. Hantz Financial Services Inc. raised its stake 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 worth $28,000 after purchasing an additional 684 shares during the last quarter. Triumph Capital Management bought a new position in shares of Macerich in the third quarter valued at approximately $33,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Macerich in the second quarter valued at approximately $36,000. Institutional investors own 87.38% of the company’s stock.

Macerich Price Performance

Shares of NYSE MAC opened at $23.43 on Thursday. The company has a market capitalization of $6.64 billion, a PE ratio of -36.04, a PEG ratio of 1.69 and a beta of 2.06. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.67. The stock’s 50 day moving average price is $25.00 and its 200-day moving average price is $22.53. Macerich Company has a twelve month low of $16.03 and a twelve month high of $26.67.

Macerich (NYSE:MAC) last issued its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The business had revenue of $249.71 million for the quarter, compared to analysts’ expectations 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 revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 earnings per share. On average, equities analysts anticipate that Macerich Company will post 1.49 EPS for the current year.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Monday, September 14th will be given a dividend of $0.17 per share. 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 dividend payout ratio (DPR) is currently -104.62%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Macerich from a “hold” rating to a “buy” rating and upped their price target for the stock from $20.00 to $27.00 in a report on Tuesday, June 2nd. JPMorgan Chase & Co. upgraded Macerich from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $23.00 to $25.00 in a research note on Wednesday, June 17th. Evercore set a $25.00 price objective on shares of Macerich in a report on Thursday, August 6th. Citigroup upped their target price on shares of Macerich from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of Macerich from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.00.

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.