The Manufacturers Life Insurance Company Invests $3.52 Million in Macerich Company (The) $MAC

The Manufacturers Life Insurance Company bought a new position in Macerich Company (The) (NYSE:MAC) during the 2nd quarter, Holdings Channel reports. The fund bought 139,712 shares of the real estate investment trust’s stock, valued at approximately $3,519,000.

A number of other hedge funds also recently bought and sold shares of MAC. Farther Finance Advisors LLC raised its position in Macerich by 76.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 585 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of Macerich by 366.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 1,095 shares during the last quarter. Hantz Financial Services Inc. increased its stake in shares of Macerich by 80.4% during the fourth quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 684 shares during the period. Triumph Capital Management purchased a new position in shares of Macerich during the third quarter valued at approximately $33,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Macerich during the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on MAC shares. LADENBURG THALM/SH SH lifted their price target on shares of Macerich from $27.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. JPMorgan Chase & Co. upgraded shares of Macerich from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $23.00 to $25.00 in a report on Wednesday, June 17th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $21.00 target price on shares of Macerich in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised shares of Macerich from a “hold” rating to a “buy” rating and lifted their target price for the company from $20.00 to $27.00 in a research note on Tuesday, June 2nd. Finally, Mizuho set a $28.00 price target on shares of Macerich in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Macerich presently has an average rating of “Moderate Buy” and an average price target of $26.00.

Macerich Price Performance

Shares of NYSE MAC opened at $23.52 on Wednesday. The company has a 50 day simple moving average of $25.04 and a two-hundred day simple moving average of $22.49. Macerich Company has a fifty-two week low of $16.03 and a fifty-two week high of $26.67. The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of -36.18, a P/E/G ratio of 1.70 and a beta of 2.06. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.88 and a current ratio of 0.88.

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

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Monday, September 14th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, September 14th. Macerich’s dividend payout ratio is currently -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.