Triad Investment Management Buys New Stake in Macerich Company (The) $MAC

Key Points

• Triad Investment Management bought 206,916 shares of Macerich (NYSE:MAC) in Q4 — about $3.82 million — making MAC ~3.9% of Triad’s portfolio and leaving institutional investors with roughly 87.4% ownership of the stock.
• Macerich reported Q4 EPS of ($0.07) (missing the $0.43 estimate) with revenue of $261.7M (down 4.4% YoY), and it pays a quarterly dividend of $0.17 (≈3.5% yield).
• Analyst views are mixed — consensus rating is Hold with a $20.83 target — while MAC trades near $19.39, has a market cap of about $4.98B and a 52-week range of $12.48–$20.93.

Triad Investment Management purchased a new position in shares of Macerich Company (The) (NYSE:MAC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 206,916 shares of the real estate investment trust's stock, valued at approximately $3,820,000. Macerich makes up about 3.9% of Triad Investment Management's investment portfolio, making the stock its 10th largest holding. Triad Investment Management owned approximately 0.08% of Macerich as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MAC. Triumph Capital Management purchased a new stake in shares of Macerich in the 3rd quarter valued at $33,000. Danske Bank A S acquired a new position in Macerich during the 3rd quarter worth about $56,000. GAMMA Investing LLC boosted its holdings in Macerich by 14.8% during the 3rd quarter. GAMMA Investing LLC now owns 5,371 shares of the real estate investment trust's stock valued at $98,000 after acquiring an additional 691 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Macerich by 16.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,205 shares of the real estate investment trust's stock valued at $100,000 after acquiring an additional 858 shares in the last quarter. Finally, Archer Investment Corp grew its position in Macerich by 25.9% in the 3rd quarter. Archer Investment Corp now owns 7,179 shares of the real estate investment trust's stock valued at $131,000 after acquiring an additional 1,479 shares in the last quarter. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Macerich Stock Up 2.6%

MAC stock opened at $19.39 on Thursday. The company's 50 day moving average price is $19.08 and its 200 day moving average price is $18.22. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.02 and a current ratio of 1.02. Macerich Company has a fifty-two week low of $12.48 and a fifty-two week high of $20.93. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of -25.18, a PEG ratio of 1.30 and a beta of 2.17.

Macerich (NYSE:MAC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.50). Macerich had a negative return on equity of 7.32% and a negative net margin of 19.44%.The firm had revenue of $261.70 million during the quarter, compared to analysts' expectations of $260.48 million. During the same quarter in the prior year, the firm earned $0.47 EPS. The firm's revenue was down 4.4% compared to the same quarter last year. On average, equities research analysts anticipate that Macerich Company will post 1.55 EPS for the current fiscal year.

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, March 16th. Macerich's payout ratio is -88.31%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Jefferies Financial Group reissued a "buy" rating and set a $21.00 price target on shares of Macerich in a research report on Monday, December 15th. Scotiabank upgraded shares of Macerich from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the company from $19.00 to $22.00 in a report on Monday. Citigroup increased their target price on shares of Macerich from $19.00 to $21.00 and gave the stock a "neutral" rating in a report on Wednesday, February 25th. Weiss Ratings reissued a "sell (d+)" rating on shares of Macerich in a research report on Thursday, January 22nd. Finally, The Goldman Sachs Group increased their price objective on Macerich from $15.00 to $17.00 and gave the company a "sell" rating in a research note on Monday, March 2nd. Seven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $20.83.

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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