Janney Montgomery Scott LLC Grows Position in The Macerich Company (NYSE:MAC)

Janney Montgomery Scott LLC raised its holdings in shares of The Macerich Company (NYSE:MAC) by 15.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 55,118 shares of the real estate investment trust’s stock after purchasing an additional 7,314 shares during the period. Janney Montgomery Scott LLC’s holdings in Macerich were worth $1,098,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Nomura Asset Management Co. Ltd. raised its stake in Macerich by 0.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 275,731 shares of the real estate investment trust’s stock worth $5,029,000 after buying an additional 700 shares in the last quarter. Lodestone Wealth Management LLC increased its holdings in shares of Macerich by 0.6% in the 3rd quarter. Lodestone Wealth Management LLC now owns 154,082 shares of the real estate investment trust’s stock valued at $2,810,000 after acquiring an additional 859 shares during the period. Townsquare Capital LLC raised its position in shares of Macerich by 7.2% in the 3rd quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust’s stock worth $245,000 after acquiring an additional 902 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Macerich by 152.2% during the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 933 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Macerich by 40.9% during the third quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 933 shares in the last quarter. Institutional investors own 87.38% of the company’s stock.

Macerich Trading Up 2.0 %

Shares of NYSE:MAC opened at $20.71 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a 52-week low of $12.99 and a 52-week high of $22.27. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 53.09, a PEG ratio of 0.72 and a beta of 2.50. The business has a 50-day moving average price of $20.51 and a 200-day moving average price of $18.36.

Macerich (NYSE:MAC) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing the consensus estimate of $0.40 by ($0.90). The business had revenue of $220.20 million during the quarter, compared to analysts’ expectations of $208.54 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. The firm’s revenue was up .9% on a year-over-year basis. During the same period last year, the company earned $0.44 earnings per share. Equities analysts predict that The Macerich Company will post 1.55 EPS for the current year.

Insider Buying and Selling at Macerich

In related news, Director Andrea M. Stephen sold 63,289 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $20.59, for a total value of $1,303,120.51. Following the completion of the transaction, the director now directly owns 83,479 shares in the company, valued at $1,718,832.61. The trade was a 43.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.53% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Jefferies Financial Group upgraded shares of Macerich from a “hold” rating to a “buy” rating and boosted their target price for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. StockNews.com lowered shares of Macerich from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Scotiabank upgraded shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 target price for the company in a research note on Tuesday, December 17th. Mizuho raised Macerich from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th. Finally, Bank of America raised their price objective on Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, Macerich currently has a consensus rating of “Hold” and an average price target of $19.30.

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.