Hsbc Holdings PLC trimmed its holdings in shares of The Macerich Company (NYSE:MAC) by 29.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 75,396 shares of the real estate investment trust’s stock after selling 31,352 shares during the period. Hsbc Holdings PLC’s holdings in The Macerich were worth $796,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Nuveen Asset Management LLC boosted its stake in The Macerich by 25.6% during the 4th quarter. Nuveen Asset Management LLC now owns 2,027,450 shares of the real estate investment trust’s stock valued at $21,632,000 after purchasing an additional 413,161 shares during the last quarter. BlackRock Inc. boosted its stake in The Macerich by 16.2% during the 4th quarter. BlackRock Inc. now owns 21,011,260 shares of the real estate investment trust’s stock valued at $224,190,000 after purchasing an additional 2,925,851 shares during the last quarter. Rhumbline Advisers boosted its stake in The Macerich by 16.2% during the 4th quarter. Rhumbline Advisers now owns 501,012 shares of the real estate investment trust’s stock valued at $5,346,000 after purchasing an additional 69,881 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in The Macerich by 82.2% during the 4th quarter. Russell Investments Group Ltd. now owns 40,481 shares of the real estate investment trust’s stock valued at $431,000 after purchasing an additional 18,267 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in The Macerich during the 4th quarter valued at $149,000. Institutional investors and hedge funds own 83.79% of the company’s stock.
Several brokerages have commented on MAC. KeyCorp upgraded The Macerich from an “underweight” rating to a “sector weight” rating in a research note on Monday, December 14th. Truist raised their price target on The Macerich from $14.00 to $15.00 in a research note on Monday, March 22nd. JPMorgan Chase & Co. downgraded The Macerich from a “neutral” rating to an “underweight” rating and set a $12.00 price target on the stock. in a research note on Monday, December 21st. Zacks Investment Research downgraded The Macerich from a “hold” rating to a “sell” rating and set a $13.50 price target on the stock. in a research note on Thursday, January 14th. Finally, Truist Securities raised their price target on The Macerich from $14.00 to $15.00 in a research note on Monday, March 22nd. Nine research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Sell” and a consensus price target of $10.32.
The Macerich (NYSE:MAC) last posted its quarterly earnings results on Wednesday, February 10th. The real estate investment trust reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.72). The Macerich had a negative net margin of 1.55% and a negative return on equity of 1.03%. Sell-side analysts anticipate that The Macerich Company will post 2.28 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 3rd. Shareholders of record on Friday, February 19th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, February 18th. This represents a $0.60 dividend on an annualized basis and a yield of 4.85%. The Macerich’s dividend payout ratio is presently 16.95%.
In other The Macerich news, major shareholder Teachers Pension Plan Ontario sold 24,562,964 shares of the firm’s stock in a transaction dated Wednesday, January 27th. The stock was sold at an average price of $20.25, for a total transaction of $497,400,021.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.15% of the stock is owned by company insiders.
The Macerich Profile
Macerich is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.
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