Edgestream Partners L.P. Has $610,000 Holdings in Macerich Company (The) (NYSE:MAC)

Edgestream Partners L.P. decreased its position in Macerich Company (The) (NYSE:MAC - Free Report) by 85.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,556 shares of the real estate investment trust's stock after selling 208,391 shares during the quarter. Edgestream Partners L.P.'s holdings in Macerich were worth $610,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC raised its holdings in shares of Macerich by 9.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 5,787 shares of the real estate investment trust's stock valued at $118,000 after buying an additional 512 shares during the last quarter. Townsquare Capital LLC boosted its position in Macerich by 7.0% during the fourth quarter. Townsquare Capital LLC now owns 14,395 shares of the real estate investment trust's stock worth $287,000 after acquiring an additional 947 shares during the last quarter. Gotham Asset Management LLC boosted its position in Macerich by 8.4% during the fourth quarter. Gotham Asset Management LLC now owns 12,830 shares of the real estate investment trust's stock worth $256,000 after acquiring an additional 997 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Macerich during the fourth quarter worth approximately $30,000. Finally, State of Tennessee Department of Treasury boosted its holdings in shares of Macerich by 1.7% in the 4th quarter. State of Tennessee Department of Treasury now owns 102,801 shares of the real estate investment trust's stock valued at $2,048,000 after purchasing an additional 1,715 shares during the last quarter. Hedge funds and other institutional investors own 87.38% of the company's stock.

Macerich Stock Performance

Macerich stock traded down $0.06 during midday trading on Friday, reaching $16.57. 1,269,808 shares of the stock traded hands, compared to its average volume of 1,925,359. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.91. The firm has a fifty day moving average price of $16.05 and a two-hundred day moving average price of $17.13. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of -38.53, a PEG ratio of 3.23 and a beta of 2.13. Macerich Company has a fifty-two week low of $12.48 and a fifty-two week high of $22.27.

Macerich (NYSE:MAC - Get Free Report) last posted its earnings results on Monday, May 12th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. The firm had revenue of $249.22 million during the quarter, compared to analyst estimates of $221.61 million. Macerich had a negative net margin of 12.26% and a negative return on equity of 4.37%. Macerich's revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 EPS. On average, equities research analysts forecast that Macerich Company will post 1.55 earnings per share for the current year.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.10%. Macerich's payout ratio is currently -158.14%.

Analyst Ratings Changes

A number of brokerages have recently commented on MAC. Scotiabank cut their target price on shares of Macerich from $21.00 to $16.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial lifted their price target on shares of Macerich from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Mizuho raised shares of Macerich from a "neutral" rating to an "outperform" rating and dropped their price target for the stock from $22.00 to $18.00 in a research note on Tuesday, June 10th. Piper Sandler raised shares of Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 price target on the stock in a research note on Thursday, May 22nd. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Macerich in a research note on Friday. They set a "buy" rating and a $25.00 price target on the stock. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $19.26.

Macerich Company Profile

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.