Hsbc Holdings PLC Acquires 32,860 Shares of The Macerich Company (NYSE:MAC)

Hsbc Holdings PLC lifted its holdings in shares of The Macerich Company (NYSE:MAC) by 19.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 205,382 shares of the real estate investment trust’s stock after acquiring an additional 32,860 shares during the period. Hsbc Holdings PLC’s holdings in Macerich were worth $4,090,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Macerich by 36.5% in the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust’s stock worth $87,000 after acquiring an additional 1,174 shares during the last quarter. Friedenthal Financial acquired a new stake in shares of Macerich during the 4th quarter valued at $771,000. Perpetual Ltd grew its position in Macerich by 24.3% during the 4th quarter. Perpetual Ltd now owns 55,356 shares of the real estate investment trust’s stock worth $1,103,000 after acquiring an additional 10,830 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Macerich by 15.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 55,118 shares of the real estate investment trust’s stock worth $1,098,000 after purchasing an additional 7,314 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Macerich by 68.8% in the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 1,064 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MAC. Jefferies Financial Group upgraded Macerich from a “hold” rating to a “buy” rating and boosted their price target for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. Morgan Stanley decreased their price target on shares of Macerich from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st. The Goldman Sachs Group dropped their price target on shares of Macerich from $16.70 to $14.40 and set a “sell” rating for the company in a research note on Monday, March 10th. Piper Sandler decreased their price objective on Macerich from $17.00 to $16.00 and set an “underweight” rating for the company in a report on Friday, February 28th. Finally, Truist Financial raised Macerich from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Thursday, April 10th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Macerich has an average rating of “Hold” and a consensus target price of $18.95.

Macerich Trading Down 2.3 %

NYSE MAC opened at $14.73 on Wednesday. The stock has a market capitalization of $3.72 billion, a P/E ratio of 37.76, a P/E/G ratio of 0.71 and a beta of 2.17. The business has a 50 day simple moving average of $16.28 and a 200 day simple moving average of $18.73. 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 one year low of $12.48 and a one year high of $22.27.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Tuesday, June 3rd will be paid a $0.17 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $0.68 annualized dividend and a dividend yield of 4.62%. Macerich’s dividend payout ratio is currently -86.08%.

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.