Epoch Investment Partners Inc. Reduces Holdings in Macerich Company (The) $MAC

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. lowered its position in shares of Macerich Company (The) (NYSE:MAC - Free Report) by 57.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new stake in Macerich during the fourth quarter worth approximately $45,000. State of Wyoming purchased a new position in Macerich during the fourth quarter worth approximately $55,000. Signaturefd LLC raised 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 purchasing an additional 862 shares during the period. Raiffeisen Bank International AG purchased a new position in Macerich during the fourth quarter worth approximately $83,000. Finally, GF Fund Management CO. LTD. purchased a new position in Macerich during the fourth quarter worth approximately $90,000. Institutional investors and hedge funds own 87.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MAC shares. JPMorgan Chase & Co. increased their price target on shares of Macerich from $18.00 to $19.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 27th. Scotiabank increased their price target on shares of Macerich from $16.00 to $18.00 and gave the stock a "sector perform" rating in a research note on Thursday. Truist Financial increased 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. 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, Wall Street Zen downgraded shares of Macerich from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $19.78.

Macerich Trading Down 0.4%

Shares of MAC stock traded down $0.07 during mid-day trading on Monday, reaching $18.43. The company's stock had a trading volume of 1,060,829 shares, compared to its average volume of 1,712,325. The company's 50 day simple moving average is $16.93 and its 200-day simple moving average is $16.50. Macerich Company has a 12-month low of $12.48 and a 12-month high of $22.27. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $4.66 billion, a PE ratio of -10.53, a price-to-earnings-growth ratio of 3.55 and a beta of 2.27.

Macerich (NYSE:MAC - Get Free Report) last issued its earnings results on Monday, August 11th. The real estate investment trust reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The business had revenue of $249.79 million during the quarter, compared to analysts' expectations of $245.19 million. During the same period in the prior year, the business posted $0.39 EPS. The business's revenue was up 15.9% on a year-over-year basis. On average, research analysts predict that Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Tuesday, September 9th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $0.68 annualized dividend and a yield of 3.7%. Macerich's payout ratio is -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.