Inspire Investing LLC Raises Stock Position in Macerich Company (The) $MAC

Inspire Investing LLC grew its holdings in Macerich Company (The) (NYSE:MAC) by 25.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,322 shares of the real estate investment trust’s stock after buying an additional 5,993 shares during the period. Inspire Investing LLC’s holdings in Macerich were worth $474,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp grew its stake in shares of Macerich by 47.7% in the 2nd quarter. Fifth Third Bancorp now owns 3,011 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 972 shares in the last quarter. Signaturefd LLC grew its stake in shares of Macerich by 34.9% in the 1st quarter. Signaturefd LLC now owns 3,329 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 862 shares in the last quarter. Quarry LP boosted its stake in shares of Macerich by 2,691.6% during the 1st quarter. Quarry LP now owns 3,322 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 3,203 shares during the period. Archer Investment Corp purchased a new position in shares of Macerich during the 1st quarter worth about $98,000. Finally, Inspire Advisors LLC purchased a new position in shares of Macerich during the 1st quarter worth about $178,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Trading Down 3.1%

Shares of MAC opened at $16.53 on Monday. Macerich Company has a 1-year low of $12.48 and a 1-year high of $22.27. The company has a 50-day moving average of $17.65 and a 200 day moving average of $16.41. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of -9.45, a PEG ratio of 2.88 and a beta of 2.23. 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 (NYSE:MAC) last announced its quarterly earnings data on Monday, August 11th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The company had revenue of $249.79 million for the quarter, compared to the consensus estimate of $245.19 million. During the same quarter in the previous year, the business earned $0.39 EPS. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, research analysts expect that Macerich Company will post 1.55 EPS for the current year.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 9th were issued a $0.17 dividend. The ex-dividend date was Tuesday, September 9th. This represents a $0.68 annualized dividend and a dividend yield of 4.1%. Macerich’s payout ratio is currently -38.86%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MAC shares. JPMorgan Chase & Co. lifted their price target 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. Wall Street Zen cut shares of Macerich from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Macerich in a research note on Wednesday, October 8th. Scotiabank lifted their price target on shares of Macerich from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 28th. Finally, Evercore ISI lifted their price target 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. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.11.

About Macerich

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.