Inceptionr LLC Makes New $379,000 Investment in Macerich Company (The) $MAC

Inceptionr LLC bought a new position in shares of Macerich Company (The) (NYSE:MAC) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 23,413 shares of the real estate investment trust’s stock, valued at approximately $379,000.

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in Macerich by 2.2% during the first quarter. AQR Capital Management LLC now owns 37,808 shares of the real estate investment trust’s stock worth $640,000 after purchasing an additional 813 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Macerich by 4.5% in the 1st quarter. Assetmark Inc. now owns 19,537 shares of the real estate investment trust’s stock valued at $335,000 after buying an additional 839 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its position in shares of Macerich by 2.4% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 36,060 shares of the real estate investment trust’s stock valued at $619,000 after buying an additional 860 shares during the last quarter. Fifth Third Bancorp raised its stake in Macerich by 47.7% during the 2nd quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 972 shares in the last quarter. Finally, Amalgamated Bank lifted its position in Macerich by 1.4% in the second quarter. Amalgamated Bank now owns 71,834 shares of the real estate investment trust’s stock valued at $1,162,000 after acquiring an additional 991 shares during the last quarter. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Scotiabank upped their price objective on shares of Macerich from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday, November 13th. JPMorgan Chase & Co. upped their target price on Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Wednesday, August 27th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Macerich in a research note on Wednesday, October 8th. Wall Street Zen downgraded Macerich from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Finally, Evercore ISI lifted their target price on shares of Macerich from $18.00 to $20.00 and gave the company an “in-line” rating in a report on Monday, September 15th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.95.

Macerich Trading Up 0.7%

Shares of MAC stock opened at $17.36 on Friday. The business’s fifty day moving average price is $17.31 and its 200 day moving average price is $16.97. The firm has a market capitalization of $4.45 billion, a PE ratio of -9.92, a P/E/G ratio of 2.96 and a beta of 2.25. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.76 and a quick ratio of 0.76. Macerich Company has a 1-year low of $12.48 and a 1-year high of $22.27.

Macerich (NYSE:MAC) last posted its quarterly earnings results on Wednesday, November 5th. The real estate investment trust reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The company had revenue of $253.26 million for the quarter, compared to analyst estimates of $246.77 million. Macerich had a negative return on equity of 15.15% and a negative net margin of 41.33%.The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. As a group, sell-side analysts forecast that Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Stockholders of record on Monday, December 15th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Monday, December 15th. Macerich’s dividend payout ratio (DPR) is presently -42.77%.

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.