Macerich Company (The) $MAC Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its position in Macerich shares by 54.3% in the first quarter, owning 423,138 shares valued at approximately $7.27 million.
• Macerich's recent earnings report reflected a loss in EPS of $0.32, missing estimates by $0.02, but showed a revenue increase of 15.9% year-over-year.
• The company announced a quarterly dividend of $0.17 per share, representing an annual yield of 4.0%, with the dividend payout ratio currently at -38.86%.

Deutsche Bank AG lowered its position in Macerich Company (The) (NYSE:MAC - Free Report) by 54.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 423,138 shares of the real estate investment trust's stock after selling 503,321 shares during the quarter. Deutsche Bank AG owned approximately 0.17% of Macerich worth $7,265,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bamco Inc. NY lifted its stake in Macerich by 175.8% in the fourth quarter. Bamco Inc. NY now owns 4,675,471 shares of the real estate investment trust's stock valued at $93,135,000 after buying an additional 2,980,051 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Macerich by 1.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,375,857 shares of the real estate investment trust's stock worth $87,168,000 after purchasing an additional 61,017 shares during the last quarter. Northern Trust Corp raised its stake in shares of Macerich by 56.7% during the fourth quarter. Northern Trust Corp now owns 4,205,890 shares of the real estate investment trust's stock worth $83,781,000 after purchasing an additional 1,522,147 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Macerich by 8.2% during the fourth quarter. Ameriprise Financial Inc. now owns 3,280,658 shares of the real estate investment trust's stock worth $65,351,000 after purchasing an additional 249,592 shares during the last quarter. Finally, Centersquare Investment Management LLC raised its stake in shares of Macerich by 3.3% during the first quarter. Centersquare Investment Management LLC now owns 2,082,086 shares of the real estate investment trust's stock worth $35,749,000 after purchasing an additional 66,648 shares during the last quarter. Hedge funds and other institutional investors own 87.38% of the company's stock.

Wall Street Analysts Forecast Growth

MAC has been the subject of several analyst reports. Piper Sandler upgraded Macerich from an "underweight" rating to a "neutral" rating and set a $16.00 price target for the company in a research note on Thursday, May 22nd. LADENBURG THALM/SH SH initiated coverage on Macerich in a research note on Friday, July 18th. They set a "buy" rating and a $25.00 price target for the company. Mizuho upgraded Macerich from a "neutral" rating to an "outperform" rating and cut their price target for the stock from $22.00 to $18.00 in a research note on Tuesday, June 10th. Scotiabank cut their price target on Macerich from $21.00 to $16.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Finally, Wall Street Zen lowered Macerich from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $19.26.

Macerich Price Performance

Shares of NYSE:MAC traded up $0.23 on Tuesday, hitting $17.36. The company had a trading volume of 742,771 shares, compared to its average volume of 1,993,706. 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 Company has a 52-week low of $12.48 and a 52-week high of $22.27. The business has a 50 day moving average of $16.59 and a 200 day moving average of $16.66. The company has a market cap of $4.39 billion, a PE ratio of -9.93, a PEG ratio of 3.32 and a beta of 2.22.

Macerich (NYSE:MAC - Get Free Report) last issued its quarterly earnings data 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). Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The company had revenue of $249.79 million during the quarter, compared to analysts' expectations of $245.19 million. During the same quarter in the prior year, the company earned $0.39 earnings per share. The firm's revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts anticipate that Macerich Company will post 1.55 earnings per share for the current fiscal year.

Macerich Announces Dividend

The company also recently disclosed 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 3.9%. The ex-dividend date is Tuesday, September 9th. Macerich's dividend payout ratio (DPR) is -38.86%.

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.