Hsbc Holdings PLC Boosts Holdings in Macerich Company (The) $MAC

Hsbc Holdings PLC boosted its holdings in shares of Macerich Company (The) (NYSE:MAC) by 19.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 853,351 shares of the real estate investment trust’s stock after buying 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.

Several other large investors have also modified their holdings of the business. DigitalBridge Group Inc. purchased a new stake in shares of Macerich during the 3rd quarter valued at about $9,146,000. Triad Investment Management purchased a new position in Macerich in the 4th quarter worth approximately $3,820,000. Bamco Inc. NY grew its position in Macerich by 18.9% in the third quarter. Bamco Inc. NY now owns 2,909,869 shares of the real estate investment trust’s stock valued at $52,960,000 after acquiring an additional 463,102 shares in the last quarter. Centersquare Investment Management LLC raised its stake 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 valued at $117,307,000 after purchasing an additional 3,808,336 shares during the period. Finally, Norges Bank purchased a new stake in shares of Macerich during the fourth quarter valued at approximately $66,924,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Macerich Price Performance

MAC opened at $25.48 on Wednesday. The company has a market capitalization of $7.22 billion, a P/E ratio of -35.88, a PEG ratio of 1.69 and a beta of 2.06. The company has a 50-day moving average of $23.31 and a 200-day moving average of $20.72. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.83 and a current ratio of 0.83. Macerich Company has a 1-year low of $15.89 and a 1-year high of $25.97.

Macerich (NYSE:MAC) last issued its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. The business had revenue of $241.54 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 earnings per share. Equities analysts expect that Macerich Company will post 1.48 EPS for the current fiscal year.

Macerich Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were given a $0.17 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.68 annualized dividend and a dividend yield of 2.7%. Macerich’s dividend payout ratio (DPR) is presently -95.77%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Morgan Stanley upped their target price on shares of Macerich from $20.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, June 18th. Compass Point reaffirmed a “neutral” rating and set a $26.00 price target (up from $23.00) on shares of Macerich in a research note on Friday, June 26th. Truist Financial boosted their price objective on shares of Macerich from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. raised shares of Macerich from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $23.00 to $25.00 in a research report on Wednesday, June 17th. Finally, KeyCorp raised their target price on Macerich from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.14.

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.