Quantbot Technologies LP Takes $1.48 Million Position in Macerich Company (The) $MAC

Quantbot Technologies LP bought a new stake in shares of Macerich Company (The) (NYSE:MAC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 58,588 shares of the real estate investment trust's stock, valued at approximately $1,476,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MAC. Fifth Third Bancorp increased its holdings in Macerich by 14.7% in the first quarter. Fifth Third Bancorp now owns 3,666 shares of the real estate investment trust's stock worth $69,000 after purchasing an additional 471 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of Macerich by 1.2% during the 4th quarter. HighTower Advisors LLC now owns 46,116 shares of the real estate investment trust's stock worth $851,000 after buying an additional 530 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Macerich by 76.8% during the 4th quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust's stock worth $25,000 after buying an additional 585 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Macerich by 2.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 24,659 shares of the real estate investment trust's stock worth $455,000 after buying an additional 622 shares during the period. Finally, Osaic Holdings Inc. grew its position in shares of Macerich by 5.5% during the 4th quarter. Osaic Holdings Inc. now owns 12,116 shares of the real estate investment trust's stock worth $224,000 after buying an additional 637 shares during the period. Institutional investors own 87.38% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MAC. Deutsche Bank Aktiengesellschaft upgraded shares of Macerich from a "hold" rating to a "buy" rating and boosted their target price for the company from $20.00 to $27.00 in a research report on Tuesday, June 2nd. Compass Point reaffirmed a "neutral" rating and issued a $26.00 price target (up from $23.00) on shares of Macerich in a research note on Friday, June 26th. The Goldman Sachs Group upped their price objective on shares of Macerich from $17.00 to $19.00 and gave the company a "sell" rating in a report on Friday, May 15th. Piper Sandler increased their price objective on shares of Macerich from $21.00 to $28.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. upgraded Macerich from an "underweight" rating to a "neutral" rating and raised their target price for the company from $23.00 to $25.00 in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Macerich has a consensus rating of "Moderate Buy" and an average target price of $25.75.

Macerich Stock Performance

NYSE MAC opened at $24.29 on Wednesday. The company has a market cap of $6.89 billion, a P/E ratio of -37.36, a PEG ratio of 1.72 and a beta of 2.07. The company has a fifty day simple moving average of $25.03 and a 200 day simple moving average of $22.33. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.67. Macerich Company has a 12-month low of $16.03 and a 12-month high of $26.67.

Macerich (NYSE:MAC - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). Macerich had a negative return on equity of 6.26% and a negative net margin of 16.85%.The business had revenue of $249.71 million for the quarter, compared to analyst estimates of $239.77 million. During the same quarter in the previous year, the company posted $0.33 EPS. The business's quarterly revenue was up .0% on a year-over-year basis. Sell-side analysts predict that Macerich Company will post 1.49 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Monday, September 14th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, September 14th. Macerich's dividend payout ratio is currently -104.62%.

About Macerich

The Macerich Company NYSE: MAC is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich's core activities encompass property and asset management, leasing, marketing and redevelopment services.

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