5,515,222 Shares in Macerich Company (The) $MAC Bought by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 5.52 million Macerich shares during the second quarter, worth approximately $138.9 million and representing a 1.94% stake. Institutional investors collectively own 87.38% of the REIT.
• Macerich reported quarterly adjusted earnings of negative $0.10 per share, missing estimates by $0.05, although revenue of $249.7 million exceeded expectations. Analysts forecast full-year earnings of $1.49 per share.
• The company declared a quarterly dividend of $0.17, or $0.68 annually, yielding about 2.7%. Analyst sentiment remains a consensus “Moderate Buy,” with an average price target of $25.75.

Deutsche Bank AG bought a new position in Macerich Company (The) (NYSE:MAC - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,515,222 shares of the real estate investment trust's stock, valued at approximately $138,928,000. Deutsche Bank AG owned 1.94% of Macerich at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in shares of Macerich by 76.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 585 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Macerich by 366.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 1,095 shares during the period. Hantz Financial Services Inc. lifted its position in Macerich by 80.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 684 shares during the last quarter. Triumph Capital Management bought a new stake in Macerich in the 3rd quarter valued at about $33,000. Finally, Salomon & Ludwin LLC boosted its stake in Macerich by 156.6% during the 4th quarter. Salomon & Ludwin LLC now owns 2,189 shares of the real estate investment trust's stock valued at $41,000 after purchasing an additional 1,336 shares during the period. 87.38% of the stock is currently owned by institutional investors.

Macerich Price Performance

NYSE MAC opened at $24.89 on Thursday. The stock has a market capitalization of $7.06 billion, a P/E ratio of -38.30, a P/E/G ratio of 1.72 and a beta of 2.07. Macerich Company has a 1 year low of $16.03 and a 1 year high of $26.67. The business's fifty day moving average is $25.06 and its two-hundred day moving average is $22.17. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.88 and a current ratio of 0.88.

Macerich (NYSE:MAC - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The company had revenue of $249.71 million for the quarter, compared to the consensus estimate of $239.77 million. Macerich had a negative return on equity of 6.26% and a negative net margin of 16.85%.The business's revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 earnings per share. On average, research analysts forecast that Macerich Company will post 1.49 earnings per share for the current fiscal year.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Monday, September 14th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.68 dividend on an annualized basis and a yield of 2.7%. Macerich's dividend payout ratio (DPR) is currently -104.62%.

Analyst Upgrades and Downgrades

MAC has been the subject of several recent analyst reports. KeyCorp upped their target price on shares of Macerich from $25.00 to $27.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 10th. The Goldman Sachs Group lifted their price target on Macerich from $17.00 to $19.00 and gave the company a "sell" rating in a report on Friday, May 15th. Jefferies Financial Group upgraded Macerich to a "strong-buy" rating in a research report on Friday, June 26th. Scotiabank increased their price objective on Macerich from $24.00 to $27.00 and gave the stock a "sector outperform" rating in a report on Thursday, June 18th. Finally, Compass Point restated a "neutral" rating and issued a $26.00 target price (up from $23.00) on shares of Macerich in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.75.

Macerich Profile

The Macerich Company NYSE: MAC is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich's core activities encompass property and asset management, leasing, marketing and redevelopment services.

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