Hsbc Holdings PLC Grows Stake in Macerich Company (The) $MAC

Hsbc Holdings PLC boosted its position in shares of Macerich Company (The) (NYSE:MAC) by 5.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 903,968 shares of the real estate investment trust’s stock after acquiring an additional 50,617 shares during the quarter. Hsbc Holdings PLC owned 0.35% of Macerich worth $17,085,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Macerich by 14.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 435,898 shares of the real estate investment trust’s stock valued at $8,238,000 after purchasing an additional 55,453 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in shares of Macerich by 6.1% in the first quarter. Resona Asset Management Co. Ltd. now owns 113,780 shares of the real estate investment trust’s stock worth $2,107,000 after buying an additional 6,556 shares during the last quarter. Abel Hall LLC boosted its holdings in shares of Macerich by 14.1% in the first quarter. Abel Hall LLC now owns 23,811 shares of the real estate investment trust’s stock worth $450,000 after buying an additional 2,940 shares during the last quarter. Strs Ohio grew its position in Macerich by 814.3% during the first quarter. Strs Ohio now owns 409,600 shares of the real estate investment trust’s stock valued at $7,741,000 after buying an additional 364,800 shares during the period. Finally, IFM Investors Pty Ltd increased its holdings in Macerich by 2.1% during the first quarter. IFM Investors Pty Ltd now owns 41,827 shares of the real estate investment trust’s stock valued at $791,000 after buying an additional 858 shares during the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MAC shares. Weiss Ratings upgraded shares of Macerich from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Compass Point restated a “neutral” rating and issued a $26.00 price objective (up from $23.00) on shares of Macerich in a research note on Friday, June 26th. JPMorgan Chase & Co. raised Macerich from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $23.00 to $25.00 in a report on Wednesday, June 17th. Wall Street Zen upgraded Macerich from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Scotiabank boosted their price target on Macerich from $24.00 to $27.00 and gave the company a “sector outperform” rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.33.

Macerich Price Performance

NYSE MAC opened at $25.62 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 1.96. Macerich Company has a 12 month low of $15.94 and a 12 month high of $26.23. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of -36.09, a PEG ratio of 1.72 and a beta of 2.06. The company’s 50 day moving average is $24.00 and its two-hundred day moving average is $21.17.

Macerich (NYSE:MAC) last posted its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The business had revenue of $241.54 million during the quarter, compared to analyst estimates of $233.06 million. Macerich had a negative net margin of 18.22% and a negative return on equity of 6.95%. The company’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. As a group, research analysts anticipate that Macerich Company will post 1.48 earnings per share for the current year.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Monday, June 15th. Macerich’s dividend payout ratio is presently -95.77%.

About Macerich

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.