Triad Investment Management Decreases Holdings in Macerich Company (The) $MAC

Key Points

• Triad Investment Management cut its Macerich stake by 48.3% in the second quarter, selling 100,000 shares and retaining 106,916 shares valued at approximately $2.7 million. Institutional investors collectively own 87.38% of MAC.
• Analysts maintain a generally positive outlook, with Macerich holding a consensus “Moderate Buy” rating and an average price target of $26, compared with the stock’s opening price of $23.02.
• Macerich reported a quarterly loss of $0.10 per share, missing estimates by $0.05, while revenue of $249.71 million exceeded expectations. The REIT also declared a quarterly dividend of $0.17 per share, representing a 3.0% yield.

Triad Investment Management trimmed its position in Macerich Company (The) (NYSE:MAC - Free Report) by 48.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,916 shares of the real estate investment trust's stock after selling 100,000 shares during the period. Macerich makes up approximately 3.0% of Triad Investment Management's holdings, making the stock its 15th biggest holding. Triad Investment Management's holdings in Macerich were worth $2,693,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC lifted its holdings in shares of Macerich by 366.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,394 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 1,095 shares during the last quarter. Hantz Financial Services Inc. grew its stake in Macerich by 80.4% during the 4th quarter. Hantz Financial Services Inc. now owns 1,535 shares of the real estate investment trust's stock worth $28,000 after buying an additional 684 shares during the last quarter. Triumph Capital Management purchased a new position in Macerich during the 3rd quarter worth $33,000. Northwestern Mutual Wealth Management Co. acquired a new position in Macerich during the 2nd quarter valued at about $36,000. Finally, Kestra Advisory Services LLC acquired a new position in Macerich during the 4th quarter valued at about $43,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Compass Point reissued a "neutral" rating and issued a $26.00 price target (up from $23.00) on shares of Macerich in a report on Friday, June 26th. The Goldman Sachs Group restated a "sell" rating and set a $21.00 price objective on shares of Macerich in a report on Tuesday, September 1st. Evercore set a $25.00 price objective on shares of Macerich in a research report on Thursday, August 6th. Piper Sandler upgraded shares of Macerich from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $28.00 to $30.00 in a research note on Thursday, August 27th. Finally, Mizuho set a $28.00 target price on shares of Macerich in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Macerich currently has a consensus rating of "Moderate Buy" and an average price target of $26.00.

Macerich Stock Down 2.4%

Macerich stock opened at $23.02 on Thursday. The business's 50-day simple moving average is $24.77 and its two-hundred day simple moving average is $22.68. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $6.53 billion, a PE ratio of -35.42, a PEG ratio of 1.70 and a beta of 2.06. Macerich Company has a fifty-two week low of $16.03 and a fifty-two week high of $26.67.

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

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Monday, September 14th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, September 14th. Macerich's dividend payout ratio is -104.62%.

Insider Buying and Selling at Macerich

In other news, CAO Christopher Zecchini sold 2,740 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $23.28, for a total value of $63,787.20. Following the sale, the chief accounting officer owned 847 shares in the company, valued at $19,718.16. This represents a 76.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is owned by insiders.

Macerich Company Profile

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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