The Macerich Company (NYSE:MAC) Shares Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its holdings in The Macerich Company (NYSE:MAC) by 26.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 47,804 shares of the real estate investment trust’s stock after buying an additional 9,943 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Macerich were worth $872,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Macerich by 0.6% in the first quarter. Vanguard Group Inc. now owns 34,672,065 shares of the real estate investment trust’s stock worth $597,400,000 after acquiring an additional 193,787 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Macerich by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,217,373 shares of the real estate investment trust’s stock worth $49,675,000 after acquiring an additional 126,192 shares during the last quarter. Renaissance Technologies LLC grew its stake in Macerich by 10.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,233,600 shares of the real estate investment trust’s stock worth $19,047,000 after buying an additional 116,200 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Macerich by 153.0% in the 2nd quarter. Millennium Management LLC now owns 791,903 shares of the real estate investment trust’s stock worth $12,227,000 after acquiring an additional 478,930 shares during the period. Finally, Sei Investments Co. bought a new stake in shares of Macerich during the second quarter valued at approximately $10,625,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Stock Performance

NYSE MAC opened at $19.27 on Friday. The company’s fifty day moving average is $18.02 and its two-hundred day moving average is $16.19. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 49.41, a P/E/G ratio of 0.65 and a beta of 2.50. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The Macerich Company has a 52-week low of $10.75 and a 52-week high of $20.40.

Macerich (NYSE:MAC) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). The business had revenue of $220.20 million for the quarter, compared to analyst estimates of $208.54 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS. Equities research analysts forecast that The Macerich Company will post 1.6 EPS for the current year.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.68 annualized dividend and a dividend yield of 3.53%. Macerich’s dividend payout ratio is presently 174.36%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MAC. StockNews.com lowered shares of Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Compass Point increased their target price on Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Piper Sandler increased their price target on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 3rd. Evercore ISI boosted their price target on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group boosted their price target on Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a research report on Thursday, September 19th. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Macerich currently has an average rating of “Hold” and an average price target of $16.40.

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.