Macerich Company (The) $MAC Shares Sold by Epoch Investment Partners Inc.

Key Points

• Epoch Investment Partners Inc. has reduced its stake in Macerich Company by 57.2%, selling 35,740 shares, leaving it with 26,755 shares valued at approximately $459,000.
• Several hedge funds have recently adjusted their positions in Macerich, showing a significant interest in the stock as 87.38% of it is now owned by institutional investors.
• Macerich reported a quarterly earnings miss, with earnings per share of $0.32, falling short of the $0.34 consensus estimate, despite a 15.9% year-over-year revenue increase.

Epoch Investment Partners Inc. lessened its stake in shares of Macerich Company (The) (NYSE:MAC - Free Report) by 57.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,755 shares of the real estate investment trust's stock after selling 35,740 shares during the quarter. Epoch Investment Partners Inc.'s holdings in Macerich were worth $459,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new position in Macerich during the fourth quarter worth about $45,000. State of Wyoming purchased a new position in Macerich during the fourth quarter worth about $55,000. Signaturefd LLC boosted its stake in Macerich by 34.9% during the first 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 during the period. Raiffeisen Bank International AG purchased a new position in Macerich during the fourth quarter worth about $83,000. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Macerich during the fourth quarter worth about $90,000. Hedge funds and other institutional investors own 87.38% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on MAC shares. LADENBURG THALM/SH SH started coverage on shares of Macerich in a research report on Friday, July 18th. They set a "buy" rating and a $25.00 price target on the stock. Wall Street Zen cut shares of Macerich from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Piper Sandler raised shares of Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 price target for the company in a research report on Thursday, May 22nd. Scotiabank raised their price target on shares of Macerich from $16.00 to $18.00 and gave the company a "sector perform" rating in a research report on Thursday, August 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of Macerich from $18.00 to $19.00 and gave the company an "underweight" rating in a research report on Wednesday, August 27th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Macerich currently has a consensus rating of "Hold" and a consensus target price of $19.78.

Macerich Price Performance

MAC stock opened at $18.12 on Wednesday. The company has a market capitalization of $4.58 billion, a P/E ratio of -10.35, a PEG ratio of 3.55 and a beta of 2.27. Macerich Company has a twelve month low of $12.48 and a twelve month high of $22.27. The business has a 50 day simple moving average of $17.01 and a 200-day simple moving average of $16.49. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.00.

Macerich (NYSE:MAC - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). The company had revenue of $249.79 million during the quarter, compared to analyst estimates of $245.19 million. Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The business's revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. As a group, equities analysts anticipate that Macerich Company will post 1.55 EPS for the current year.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 9th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Tuesday, September 9th. Macerich's dividend payout ratio (DPR) is currently -38.86%.

Macerich 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.