The Macerich Company (NYSE:MAC) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC increased its holdings in shares of The Macerich Company (NYSE:MAC) by 26.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,804 shares of the real estate investment trust’s stock after purchasing an additional 9,943 shares during the period. Janney Montgomery Scott LLC’s holdings in Macerich were worth $872,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in shares of Macerich by 152.2% during the third quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 933 shares during the period. Quest Partners LLC purchased a new stake in Macerich during the 2nd quarter valued at approximately $50,000. GAMMA Investing LLC lifted its position in Macerich by 40.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 933 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Macerich in the 2nd quarter valued at approximately $129,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Macerich by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 2,161 shares during the period. 87.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MAC has been the subject of several recent analyst reports. StockNews.com cut shares of Macerich from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Evercore ISI lifted their price objective on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Piper Sandler raised their price target on Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a report on Tuesday, September 3rd. Compass Point upped their price objective on Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group increased their price objective on Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a research report on Thursday, September 19th. Five research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $16.40.

Macerich Price Performance

Macerich stock opened at $19.27 on Friday. The firm has a market capitalization of $4.35 billion, a PE ratio of 49.41, a P/E/G ratio of 0.65 and a beta of 2.50. The Macerich Company has a 52 week low of $10.75 and a 52 week high of $20.40. The firm’s 50-day simple moving average is $18.02 and its 200 day simple moving average is $16.19. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich (NYSE:MAC) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.90). Macerich had a net margin of 8.98% and a return on equity of 3.15%. The business had revenue of $220.20 million during the quarter, compared to analysts’ expectations of $208.54 million. During the same period last year, the company earned $0.44 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts predict that The Macerich Company will post 1.6 EPS for the current fiscal year.

Macerich Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Tuesday, November 12th. Macerich’s payout ratio is 174.36%.

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.