Macerich Company (The) $MAC Holdings Raised by First Trust Advisors LP

First Trust Advisors LP raised its stake in shares of Macerich Company (The) (NYSE:MAC) by 53.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 138,561 shares of the real estate investment trust’s stock after buying an additional 48,528 shares during the period. First Trust Advisors LP’s holdings in Macerich were worth $2,619,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MAC. Hanover Advisors Inc. increased its stake in shares of Macerich by 4.9% in the first quarter. Hanover Advisors Inc. now owns 14,715 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 694 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Macerich by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,848,113 shares of the real estate investment trust’s stock valued at $72,727,000 after purchasing an additional 65,331 shares during the last quarter. Swiss National Bank boosted its position in Macerich by 1.7% during the first quarter. Swiss National Bank now owns 506,915 shares of the real estate investment trust’s stock valued at $9,581,000 after purchasing an additional 8,500 shares during the last quarter. B&I Capital AG grew its stake in Macerich by 7.2% in the first quarter. B&I Capital AG now owns 224,232 shares of the real estate investment trust’s stock valued at $4,238,000 after purchasing an additional 15,000 shares in the last quarter. Finally, SteelPeak Wealth LLC acquired a new position in Macerich in the 1st quarter worth about $297,000. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised Macerich from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $23.00 to $25.00 in a research note on Wednesday, June 17th. Truist Financial boosted their price target on Macerich from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Weiss Ratings cut shares of Macerich from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, July 29th. LADENBURG THALM/SH SH boosted their target price on shares of Macerich from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Finally, KeyCorp increased their price target on shares of Macerich from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.67.

Macerich Stock Up 4.3%

MAC opened at $24.51 on Friday. The firm has a market cap of $6.95 billion, a P/E ratio of -37.70, a price-to-earnings-growth ratio of 1.65 and a beta of 2.07. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.83 and a current ratio of 0.88. The business has a 50 day moving average price of $24.85 and a 200 day moving average price of $21.80. Macerich Company has a twelve month low of $16.03 and a twelve month high of $26.67.

Macerich (NYSE:MAC) last announced its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). Macerich had a negative net margin of 16.85% and a negative return on equity of 6.26%. The company had revenue of $249.71 million for the quarter, compared to analyst estimates of $239.77 million. During the same quarter last year, the business earned $0.33 EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. Research analysts forecast that Macerich Company will post 1.49 EPS for the current year.

Macerich Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Monday, September 14th will be paid a $0.17 dividend. The ex-dividend date is Monday, September 14th. This represents a $0.68 dividend on an annualized basis and a yield of 2.8%. Macerich’s dividend payout ratio (DPR) is presently -104.62%.

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.