Macerich Company (The) $MAC Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its holdings in shares of Macerich Company (The) (NYSE:MAC) by 46.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,125 shares of the real estate investment trust’s stock after selling 85,707 shares during the period. SG Americas Securities LLC’s holdings in Macerich were worth $1,848,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada raised its position in shares of Macerich by 20.1% during the 1st quarter. Royal Bank of Canada now owns 77,872 shares of the real estate investment trust’s stock worth $1,338,000 after buying an additional 13,018 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Macerich by 2.2% in the 1st quarter. AQR Capital Management LLC now owns 37,808 shares of the real estate investment trust’s stock valued at $640,000 after acquiring an additional 813 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Macerich by 10.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 148,592 shares of the real estate investment trust’s stock worth $2,551,000 after buying an additional 13,782 shares during the period. Millennium Management LLC boosted its position in Macerich by 376.2% during the 1st quarter. Millennium Management LLC now owns 906,843 shares of the real estate investment trust’s stock worth $15,570,000 after acquiring an additional 716,394 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of Macerich by 12.8% during the first quarter. Empowered Funds LLC now owns 26,361 shares of the real estate investment trust’s stock worth $453,000 after purchasing an additional 2,983 shares during the period. 87.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MAC. Mizuho set a $21.00 target price on Macerich in a research note on Friday, January 9th. KeyCorp set a $25.00 target price on shares of Macerich and gave the stock an “overweight” rating in a research report on Monday, February 23rd. The Goldman Sachs Group increased their price objective on Macerich from $15.00 to $17.00 and gave the company a “sell” rating in a research report on Monday, March 2nd. Citigroup lifted their target price on Macerich from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Macerich in a report on Thursday, January 22nd. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.83.

Macerich Stock Performance

Macerich stock opened at $19.55 on Monday. Macerich Company has a 12-month low of $12.48 and a 12-month high of $20.93. The stock has a 50-day simple moving average of $19.13 and a 200 day simple moving average of $18.25. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of -25.38, a P/E/G ratio of 1.34 and a beta of 2.20. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 2.01.

Macerich (NYSE:MAC) last released its quarterly earnings results on Wednesday, February 18th. The real estate investment trust reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.43 by ($0.50). The company had revenue of $261.70 million for the quarter, compared to the consensus estimate of $260.48 million. Macerich had a negative net margin of 19.44% and a negative return on equity of 7.32%. Macerich’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the company earned $0.47 earnings per share. On average, research analysts anticipate 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 Monday, March 30th. Investors of record on Monday, March 16th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, March 16th. Macerich’s payout ratio is -88.31%.

Macerich Profile

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.