Hsbc Holdings PLC Purchases 140,121 Shares of Macerich Company (The) $MAC

Hsbc Holdings PLC lifted its position in shares of Macerich Company (The) (NYSE:MAC) by 19.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 853,351 shares of the real estate investment trust’s stock after purchasing an additional 140,121 shares during the quarter. Hsbc Holdings PLC’s holdings in Macerich were worth $15,751,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MAC. State Street Corp raised its holdings in Macerich by 2.4% during the second quarter. State Street Corp now owns 15,162,075 shares of the real estate investment trust’s stock worth $245,322,000 after buying an additional 351,907 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Macerich by 17.7% during the fourth quarter. JPMorgan Chase & Co. now owns 13,555,892 shares of the real estate investment trust’s stock valued at $250,242,000 after buying an additional 2,034,338 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Macerich by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 6,608,318 shares of the real estate investment trust’s stock valued at $122,008,000 after buying an additional 70,132 shares during the last quarter. Centersquare Investment Management LLC increased its position in shares of Macerich by 149.6% during the fourth quarter. Centersquare Investment Management LLC now owns 6,354,661 shares of the real estate investment trust’s stock worth $117,307,000 after acquiring an additional 3,808,336 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Macerich by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,039,561 shares of the real estate investment trust’s stock worth $93,030,000 after acquiring an additional 123,769 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors.

Macerich Stock Performance

Shares of Macerich stock opened at $25.51 on Friday. The business’s fifty day simple moving average is $22.70 and its 200 day simple moving average is $20.31. 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 $15.79 and a 12 month high of $25.80. The firm has a market capitalization of $7.23 billion, a P/E ratio of -35.93, a price-to-earnings-growth ratio of 1.70 and a beta of 2.10.

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

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, June 15th. Macerich’s payout ratio is -95.77%.

Wall Street Analyst Weigh In

MAC has been the topic of several recent research reports. LADENBURG THALM/SH SH raised their price target on shares of Macerich from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Morgan Stanley increased their price objective on Macerich from $20.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 18th. Citigroup upgraded Macerich from a “neutral” rating to a “buy” rating and raised their target price for the company from $24.00 to $28.00 in a report on Tuesday. Scotiabank boosted their price target on shares of Macerich from $24.00 to $27.00 and gave the stock a “sector outperform” rating in a report on Thursday, June 18th. Finally, Wall Street Zen downgraded shares of Macerich from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Macerich presently has a consensus rating of “Moderate Buy” and an average target price of $24.92.

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.