SG Americas Securities LLC Sells 34,443 Shares of Macerich Company (The) $MAC

SG Americas Securities LLC trimmed its position in Macerich Company (The) (NYSE:MAC) by 69.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,355 shares of the real estate investment trust’s stock after selling 34,443 shares during the period. SG Americas Securities LLC’s holdings in Macerich were worth $248,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC grew its position in Macerich by 2.2% in the first quarter. AQR Capital Management LLC now owns 37,808 shares of the real estate investment trust’s stock valued at $640,000 after purchasing an additional 813 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Macerich by 4.5% in the 1st quarter. Assetmark Inc. now owns 19,537 shares of the real estate investment trust’s stock valued at $335,000 after purchasing an additional 839 shares during the period. Nissay Asset Management Corp Japan ADV increased its position in Macerich by 2.4% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 36,060 shares of the real estate investment trust’s stock worth $619,000 after buying an additional 860 shares during the last quarter. Fifth Third Bancorp raised its stake in Macerich by 47.7% in the second quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 972 shares during the period. Finally, Amalgamated Bank increased its holdings in shares of Macerich by 1.4% during the 2nd quarter. Amalgamated Bank now owns 71,834 shares of the real estate investment trust’s stock worth $1,162,000 after acquiring an additional 991 shares during the last quarter. Institutional investors own 87.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MAC. JPMorgan Chase & Co. raised their target price on shares of Macerich from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 27th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Macerich in a research note on Wednesday, October 8th. Evercore ISI increased their price objective on shares of Macerich from $18.00 to $20.00 and gave the stock an “in-line” rating in a research note on Monday, September 15th. Bank of America raised Macerich from a “neutral” rating to a “buy” rating and raised their target price for the company from $19.00 to $23.00 in a report on Friday, September 26th. Finally, Scotiabank lifted their price target on shares of Macerich from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, November 13th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $19.95.

Macerich Trading Up 0.7%

NYSE MAC opened at $17.36 on Monday. The business has a 50 day simple moving average of $17.31 and a 200 day simple moving average of $16.99. The stock has a market capitalization of $4.45 billion, a P/E ratio of -9.92, a P/E/G ratio of 2.96 and a beta of 2.25. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.76 and a quick ratio of 0.76. Macerich Company has a one year low of $12.48 and a one year high of $22.27.

Macerich (NYSE:MAC) last issued its earnings results on Wednesday, November 5th. The real estate investment trust reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The firm had revenue of $253.26 million during the quarter, compared to the consensus estimate of $246.77 million. During the same period in the previous year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was up 15.0% on a year-over-year basis. Research analysts expect that Macerich Company will post 1.55 earnings per share for the current year.

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 29th. Shareholders of record on Monday, December 15th will be issued a dividend of $0.17 per share. The ex-dividend date is Monday, December 15th. This represents a $0.68 annualized dividend and a yield of 3.9%. Macerich’s dividend payout ratio is presently -42.77%.

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.