Federated Hermes Inc. Purchases 82,113 Shares of The Macerich Company (NYSE:MAC)

Federated Hermes Inc. boosted its position in The Macerich Company (NYSE:MAC) by 11.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 825,297 shares of the real estate investment trust’s stock after acquiring an additional 82,113 shares during the quarter. Federated Hermes Inc.’s holdings in Macerich were worth $12,734,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in Macerich by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,488,816 shares of the real estate investment trust’s stock valued at $48,973,000 after buying an additional 31,445 shares in the last quarter. Kennedy Capital Management LLC boosted its position in Macerich by 0.9% in the third quarter. Kennedy Capital Management LLC now owns 1,540,033 shares of the real estate investment trust’s stock valued at $16,802,000 after buying an additional 14,131 shares in the last quarter. AQR Capital Management LLC boosted its position in Macerich by 1.5% in the third quarter. AQR Capital Management LLC now owns 1,213,677 shares of the real estate investment trust’s stock valued at $13,241,000 after buying an additional 18,325 shares in the last quarter. Invesco Ltd. boosted its position in Macerich by 15.3% in the third quarter. Invesco Ltd. now owns 579,573 shares of the real estate investment trust’s stock valued at $6,323,000 after buying an additional 76,888 shares in the last quarter. Finally, LPL Financial LLC boosted its position in Macerich by 5.6% in the third quarter. LPL Financial LLC now owns 475,570 shares of the real estate investment trust’s stock valued at $5,188,000 after buying an additional 25,076 shares in the last quarter. 87.38% of the stock is owned by institutional investors.

Insider Activity at Macerich

In related news, President Edward C. Coppola sold 50,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $17.20, for a total value of $860,000.00. Following the transaction, the president now owns 655,667 shares in the company, valued at $11,277,472.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Macerich news, President Edward C. Coppola sold 50,000 shares of Macerich stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $17.20, for a total value of $860,000.00. Following the completion of the sale, the president now directly owns 655,667 shares of the company’s stock, valued at $11,277,472.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Hern Thomas E. O sold 7,964 shares of Macerich stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $16.39, for a total transaction of $130,529.96. Following the completion of the sale, the director now directly owns 197,900 shares of the company’s stock, valued at $3,243,581. The disclosure for this sale can be found here. Insiders have sold a total of 172,964 shares of company stock worth $2,940,030 over the last quarter. Company insiders own 0.57% of the company’s stock.

Macerich Trading Up 2.9 %

MAC stock opened at $16.15 on Wednesday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.95 and a current ratio of 0.95. The Macerich Company has a 12-month low of $9.05 and a 12-month high of $17.69. The company’s fifty day simple moving average is $16.44 and its 200 day simple moving average is $14.44.

Macerich (NYSE:MAC) last released its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.26). The firm had revenue of $238.70 million during the quarter, compared to analyst estimates of $224.49 million. Macerich had a negative net margin of 31.00% and a negative return on equity of 10.26%. Macerich’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 EPS. As a group, research analysts predict that The Macerich Company will post 1.8 EPS for the current fiscal year.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Friday, February 16th were issued a $0.17 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.68 annualized dividend and a yield of 4.21%. Macerich’s payout ratio is -53.54%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MAC shares. Truist Financial restated a “hold” rating and issued a $16.00 target price on shares of Macerich in a research report on Monday, March 25th. StockNews.com lowered shares of Macerich from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Citigroup upgraded shares of Macerich from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $8.00 to $17.00 in a report on Friday, March 22nd. Finally, The Goldman Sachs Group lifted their price target on shares of Macerich from $9.00 to $13.00 and gave the stock a “sell” rating in a report on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.40.

Macerich Profile

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich's portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.