Quantinno Capital Management LP Has $2.66 Million Stock Position in Macerich Company (The) $MAC

Key Points

• Quantinno Capital Management increased its Macerich stake by 165.6% in the first quarter, holding 140,543 shares valued at approximately $2.66 million. Institutional investors collectively own 87.38% of the REIT.
• Analysts remain broadly positive, with Macerich receiving a consensus “Moderate Buy” rating and an average price target of $25.67; recent targets range from $25 to $28.
• Macerich shares opened at $24.51, while the company reported quarterly revenue of $249.71 million but missed earnings expectations. It also declared a quarterly dividend of $0.17 per share, representing a 2.8% annualized yield.

Quantinno Capital Management LP increased its position in Macerich Company (The) (NYSE:MAC - Free Report) by 165.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 140,543 shares of the real estate investment trust's stock after purchasing an additional 87,626 shares during the period. Quantinno Capital Management LP owned about 0.05% of Macerich worth $2,656,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Royal Bank of Canada grew its position in Macerich by 20.1% during the first quarter. Royal Bank of Canada now owns 77,872 shares of the real estate investment trust's stock valued at $1,338,000 after purchasing an additional 13,018 shares in the last quarter. AQR Capital Management LLC raised its position in Macerich by 2.2% during the first quarter. AQR Capital Management LLC now owns 37,808 shares of the real estate investment trust's stock valued at $640,000 after acquiring an additional 813 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Macerich by 10.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 148,592 shares of the real estate investment trust's stock valued at $2,551,000 after acquiring an additional 13,782 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Macerich by 376.2% in the 1st quarter. Millennium Management LLC now owns 906,843 shares of the real estate investment trust's stock valued at $15,570,000 after purchasing an additional 716,394 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Macerich by 12.8% in the first quarter. Empowered Funds LLC now owns 26,361 shares of the real estate investment trust's stock worth $453,000 after buying an additional 2,983 shares during the last quarter. Hedge funds and other institutional investors own 87.38% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Macerich from $20.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 18th. Evercore set a $25.00 price objective on Macerich in a research report on Thursday. Scotiabank boosted their price target on shares of Macerich from $24.00 to $27.00 and gave the company a "sector outperform" rating in a report on Thursday, June 18th. Truist Financial increased their price objective on shares of Macerich from $20.00 to $26.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. Finally, Mizuho set a $28.00 target price on Macerich in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Macerich currently has an average rating of "Moderate Buy" and a consensus price target of $25.67.

Macerich Stock Up 0.4%

NYSE:MAC opened at $24.51 on Monday. The company has a quick ratio of 0.88, a current 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. The stock's fifty day simple moving average is $24.85 and its 200-day simple moving average is $21.82. The firm has a market capitalization of $6.95 billion, a P/E ratio of -37.70, a P/E/G ratio of 1.72 and a beta of 2.07.

Macerich (NYSE:MAC - Get Free Report) last released its earnings results 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 net margin of 16.85% and a negative return on equity of 6.26%. The company had revenue of $249.71 million during the quarter, compared to analyst estimates of $239.77 million. During the same period in the previous year, the company posted $0.33 EPS. The company's quarterly revenue was up .0% compared to the same quarter last year. Equities research analysts expect that Macerich Company will post 1.49 earnings per share for the current year.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Monday, September 14th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.8%. Macerich's dividend payout ratio (DPR) 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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