The Macerich Company (NYSE:MAC) Shares Sold by Federated Hermes Inc.

Posted by Defense World Staff on Aug 14th, 2023

Federated Hermes Inc. decreased its position in shares of The Macerich Company (NYSE:MAC – Free Report) by 27.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 770,377 shares of the real estate investment trust’s stock after selling 291,402 shares during the quarter. Federated Hermes Inc. owned 0.36% of Macerich worth $8,166,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Daiwa Securities Group Inc. grew its stake in shares of Macerich by 12.2% during the 1st quarter. Daiwa Securities Group Inc. now owns 65,654 shares of the real estate investment trust’s stock worth $696,000 after purchasing an additional 7,156 shares during the period. New Mexico Educational Retirement Board grew its stake in Macerich by 15.1% in the 1st quarter. New Mexico Educational Retirement Board now owns 38,852 shares of the real estate investment trust’s stock valued at $412,000 after acquiring an additional 5,100 shares during the period. Natixis Advisors L.P. grew its stake in Macerich by 14.5% in the 4th quarter. Natixis Advisors L.P. now owns 82,815 shares of the real estate investment trust’s stock valued at $932,000 after acquiring an additional 10,467 shares during the period. Commonwealth Equity Services LLC grew its stake in Macerich by 10.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 14,427 shares of the real estate investment trust’s stock valued at $162,000 after acquiring an additional 1,359 shares during the period. Finally, MQS Management LLC acquired a new stake in Macerich in the 4th quarter valued at $116,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

Macerich Stock Up 1.0 %

Shares of NYSE:MAC opened at $12.63 on Monday. The Macerich Company has a 1 year low of $7.40 and a 1 year high of $14.51. The firm has a market capitalization of $2.72 billion, a PE ratio of -31.57, a price-to-earnings-growth ratio of 2.22 and a beta of 2.14. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.96 and a quick ratio of 1.02. The firm’s 50-day moving average is $11.78 and its two-hundred day moving average is $11.16.

Macerich (NYSE:MAC – Get Free Report) last issued its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.49). Macerich had a negative net margin of 10.07% and a negative return on equity of 3.01%. The firm had revenue of $212.40 million during the quarter, compared to analysts’ expectations of $193.97 million. During the same quarter in the prior year, the firm posted $0.46 EPS. Macerich’s quarterly revenue was up 4.1% compared to the same quarter last year. Analysts predict that The Macerich Company will post 1.8 EPS for the current year.

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 18th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date of this dividend is Thursday, August 17th. Macerich’s dividend payout ratio is currently -170.00%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MAC shares. Piper Sandler dropped their price target on shares of Macerich from $11.00 to $9.00 in a research note on Friday, May 5th. 22nd Century Group reaffirmed a “maintains” rating on shares of Macerich in a research note on Thursday, June 29th. Mizuho lowered their target price on shares of Macerich from $11.00 to $9.00 in a research note on Friday, May 26th. StockNews.com initiated coverage on shares of Macerich in a research note on Thursday, May 18th. They set a “sell” rating on the stock. Finally, Truist Financial lowered their target price on shares of Macerich from $15.00 to $14.00 in a research note on Wednesday, June 28th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $11.25.

Read Our Latest Report on Macerich

About Macerich

(Free Report)

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.