23,175 Shares in Macerich Company (The) $MAC Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC bought a new position in shares of Macerich Company (The) (NYSE:MAC) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 23,175 shares of the real estate investment trust’s stock, valued at approximately $438,000.

Several other hedge funds have also modified their holdings of the stock. Farther Finance Advisors LLC increased its stake in Macerich by 76.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 585 shares in the last quarter. Global Retirement Partners LLC raised its holdings in Macerich by 366.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 1,095 shares during the period. Hantz Financial Services Inc. lifted its stake in Macerich by 80.4% during 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 buying an additional 684 shares in the last quarter. Triumph Capital Management acquired a new position in shares of Macerich in the third quarter worth about $33,000. Finally, Salomon & Ludwin LLC boosted its holdings in shares of Macerich by 156.6% in the fourth quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 1,336 shares during the period. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Price Performance

Shares of MAC opened at $26.02 on Thursday. The business’s 50-day moving average is $24.46 and its 200-day moving average is $21.48. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of -36.65, a P/E/G ratio of 1.87 and a beta of 2.06. Macerich Company has a fifty-two week low of $15.94 and a fifty-two week high of $26.67.

Macerich (NYSE:MAC) last posted 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. Macerich had a negative net margin of 18.22% and a negative return on equity of 6.95%. The business had revenue of $241.54 million during the quarter, compared to analysts’ expectations of $233.06 million. During the same period last year, the company posted $0.33 earnings per share. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. Equities research analysts expect that Macerich Company will post 1.49 EPS for the current fiscal year.

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.6%. Macerich’s dividend payout ratio (DPR) is -95.77%.

Analyst Ratings Changes

A number of research firms have recently issued reports on MAC. Piper Sandler boosted their price target on shares of Macerich from $21.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Wall Street Zen raised shares of Macerich from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Macerich from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $20.00 to $27.00 in a research report on Tuesday, June 2nd. Citigroup upgraded Macerich from a “neutral” rating to a “buy” rating and increased their target price for the company from $24.00 to $28.00 in a report on Tuesday, June 23rd. Finally, Truist Financial raised their target price on Macerich from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.33.

Macerich Profile

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.