177,946 Shares in Macerich Company (The) $MAC Bought by Freestone Grove Partners LP

Freestone Grove Partners LP bought a new position in Macerich Company (The) (NYSE:MAC) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 177,946 shares of the real estate investment trust’s stock, valued at approximately $4,482,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its stake 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 period. Global Retirement Partners LLC grew its position in 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 purchasing an additional 1,095 shares during the last quarter. Hantz Financial Services Inc. increased its stake in shares of Macerich by 80.4% in 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 purchasing an additional 684 shares during the period. Triumph Capital Management acquired a new stake in shares of Macerich in the third quarter valued at approximately $33,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Macerich during the second quarter valued at approximately $36,000. 87.38% of the stock is currently owned by institutional investors.

Macerich Stock Performance

Shares of NYSE MAC opened at $23.75 on Friday. The stock has a fifty day moving average price of $25.07 and a two-hundred day moving average price of $22.40. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $6.73 billion, a P/E ratio of -36.54, a PEG ratio of 1.72 and a beta of 2.07. Macerich Company has a 1 year low of $16.03 and a 1 year high of $26.67.

Macerich (NYSE:MAC) last posted its quarterly earnings data 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). The firm had revenue of $249.71 million during the quarter, compared to the consensus estimate of $239.77 million. Macerich had a negative return on equity of 6.26% and a negative net margin of 16.85%.The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 EPS. Research analysts forecast that Macerich Company will post 1.49 EPS for the current fiscal year.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Monday, September 14th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, September 14th. Macerich’s payout ratio is presently -104.62%.

Analyst Ratings Changes

MAC has been the subject of a number of recent analyst reports. Jefferies Financial Group raised Macerich to a “strong-buy” rating in a report on Friday, June 26th. Mizuho set a $28.00 price target on Macerich in a research note on Wednesday, August 5th. Griffin Securities set a $26.00 price target on Macerich in a report on Tuesday, August 18th. Weiss Ratings upgraded shares of Macerich from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. Finally, Compass Point reaffirmed a “neutral” rating and issued a $26.00 price objective (up from $23.00) on shares of Macerich in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.88.

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.