PharVision Advisers LLC Invests $179,000 in Macerich Company (The) $MAC

PharVision Advisers LLC purchased a new position in Macerich Company (The) (NYSE:MAC) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,442 shares of the real estate investment trust’s stock, valued at approximately $179,000.

A number of other hedge funds have also made changes to their positions in MAC. Nuveen LLC purchased a new stake in shares of Macerich in the first quarter worth approximately $32,554,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Macerich by 40.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 6,130,323 shares of the real estate investment trust’s stock worth $105,258,000 after purchasing an additional 1,754,466 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of Macerich in the fourth quarter worth approximately $16,778,000. Millennium Management LLC lifted its position in shares of Macerich by 376.2% in the first quarter. Millennium Management LLC now owns 906,843 shares of the real estate investment trust’s stock worth $15,570,000 after purchasing an additional 716,394 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Macerich in the first quarter worth approximately $12,163,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MAC has been the topic of a number of research reports. Scotiabank increased their price objective on Macerich from $16.00 to $18.00 and gave the stock a “sector perform” rating in a report on Thursday, August 28th. Mizuho upgraded Macerich from a “neutral” rating to an “outperform” rating and dropped their price objective for the stock from $22.00 to $18.00 in a report on Tuesday, June 10th. Wall Street Zen downgraded Macerich from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. LADENBURG THALM/SH SH initiated coverage on Macerich in a report on Friday, July 18th. They issued a “buy” rating and a $25.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective on Macerich from $18.00 to $19.00 and gave the stock an “underweight” rating in a report on Wednesday, August 27th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.78.

Macerich Trading Up 1.2%

Shares of MAC stock opened at $18.72 on Monday. Macerich Company has a 12 month low of $12.48 and a 12 month high of $22.27. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.00. The business’s 50 day moving average is $17.16 and its two-hundred day moving average is $16.42. The company has a market cap of $4.73 billion, a PE ratio of -10.69, a price-to-earnings-growth ratio of 3.62 and a beta of 2.27.

Macerich (NYSE:MAC) last announced its quarterly earnings results on Monday, August 11th. The real estate investment trust reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The company had revenue of $249.79 million for the quarter, compared to analyst estimates of $245.19 million. During the same quarter last year, the business earned $0.39 EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. Equities analysts predict that Macerich Company will post 1.55 EPS for the current year.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 9th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, September 9th. Macerich’s dividend payout ratio (DPR) is -38.86%.

Macerich Company 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.