SG Americas Securities LLC Buys 23,475 Shares of Macerich Company (The) (NYSE:MAC)

SG Americas Securities LLC grew its stake in shares of Macerich Company (The) (NYSE:MAC) by 89.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,798 shares of the real estate investment trust’s stock after acquiring an additional 23,475 shares during the period. SG Americas Securities LLC’s holdings in Macerich were worth $855,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in Macerich during the fourth quarter worth about $30,000. Lazard Asset Management LLC purchased a new stake in shares of Macerich during the 4th quarter valued at approximately $45,000. State of Wyoming bought a new position in Macerich in the 4th quarter worth approximately $55,000. Smartleaf Asset Management LLC grew its stake in Macerich by 314.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 2,630 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in Macerich during the 4th quarter valued at $83,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MAC shares. Piper Sandler upgraded Macerich from an “underweight” rating to a “neutral” rating and set a $16.00 price target for the company in a research report on Thursday, May 22nd. JPMorgan Chase & Co. reduced their target price on Macerich from $22.00 to $18.00 and set an “underweight” rating for the company in a report on Monday, March 10th. Scotiabank lowered their price target on shares of Macerich from $21.00 to $16.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group cut their price objective on shares of Macerich from $16.70 to $14.40 and set a “sell” rating for the company in a research report on Monday, March 10th. Finally, Mizuho raised shares of Macerich from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $22.00 to $18.00 in a research note on Tuesday, June 10th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Macerich has a consensus rating of “Hold” and a consensus price target of $18.78.

Macerich Stock Performance

Macerich stock opened at $16.02 on Friday. Macerich Company has a fifty-two week low of $12.48 and a fifty-two week high of $22.27. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market cap of $4.05 billion, a P/E ratio of -37.24, a price-to-earnings-growth ratio of 5.24 and a beta of 2.17. The firm’s fifty day moving average price is $15.34 and its 200-day moving average price is $17.81.

Macerich (NYSE:MAC) last released its earnings results on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Macerich had a negative return on equity of 4.37% and a negative net margin of 12.26%. The company had revenue of $249.22 million during the quarter, compared to the consensus estimate of $221.61 million. During the same quarter in the previous year, the company posted $0.33 EPS. Macerich’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts expect that Macerich Company will post 1.55 earnings per share for the current fiscal year.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend was Tuesday, June 3rd. Macerich’s payout ratio is -158.14%.

About Macerich

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.