Quantbot Technologies LP Buys 32,772 Shares of Macerich Company (The) $MAC

Key Points

• Quantbot Technologies LP significantly increased its stock position in Macerich Company by 2,140.6%, owning 34,303 shares valued at $589,000 as of its latest SEC filing.
• Analysts show a mixed consensus on Macerich's stock, with five rating it as a "Buy" and others maintaining "Hold" and "Sell" ratings, leading to a consensus target price of $19.26.
• Macerich reported a quarterly revenue increase of 15.9% year-over-year, despite missing earnings expectations with $0.32 EPS against a consensus estimate of $0.34.

Quantbot Technologies LP grew its position in shares of Macerich Company (The) (NYSE:MAC - Free Report) by 2,140.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 34,303 shares of the real estate investment trust's stock after acquiring an additional 32,772 shares during the quarter. Quantbot Technologies LP's holdings in Macerich were worth $589,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in shares of Macerich during the 4th quarter valued at approximately $45,000. State of Wyoming bought a new position in shares of Macerich during the 4th quarter valued at approximately $55,000. Signaturefd LLC boosted its position in shares of Macerich by 34.9% during the 1st quarter. Signaturefd LLC now owns 3,329 shares of the real estate investment trust's stock valued at $57,000 after acquiring an additional 862 shares during the last quarter. Raiffeisen Bank International AG bought a new position in shares of Macerich during the 4th quarter valued at approximately $83,000. Finally, GF Fund Management CO. LTD. bought a new position in shares of Macerich during the 4th quarter valued at approximately $90,000. 87.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MAC has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Macerich from $18.00 to $19.00 and gave the company an "underweight" rating in a research report on Wednesday. Wall Street Zen downgraded Macerich from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Truist Financial raised their price target on Macerich from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. LADENBURG THALM/SH SH assumed coverage on Macerich in a research report on Friday, July 18th. They issued a "buy" rating and a $25.00 price target for the company. Finally, Scotiabank raised their price target on Macerich from $16.00 to $18.00 and gave the stock a "sector perform" rating in a research report on Thursday. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $19.78.

Macerich Stock Up 0.4%

Shares of Macerich stock traded up $0.08 during trading on Thursday, hitting $18.48. 1,016,732 shares of the stock traded hands, compared to its average volume of 1,877,616. The firm has a market cap of $4.67 billion, a P/E ratio of -10.56, a price-to-earnings-growth ratio of 3.55 and a beta of 2.22. 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 stock's fifty day simple moving average is $16.88 and its 200 day simple moving average is $16.57.

Macerich (NYSE:MAC - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The real estate investment trust reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). The firm had revenue of $249.79 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.39 EPS. On average, equities analysts predict that Macerich Company will post 1.55 earnings per share for the current fiscal year.

Macerich Announces Dividend

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