Schonfeld Strategic Advisors LLC Invests $366,000 in The Macerich Company (NYSE:MAC)

Schonfeld Strategic Advisors LLC acquired a new position in shares of The Macerich Company (NYSE:MAC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 18,350 shares of the real estate investment trust's stock, valued at approximately $366,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in Macerich during the fourth quarter worth about $30,000. Blue Trust Inc. lifted its position in shares of Macerich by 68.8% in the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 1,064 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Macerich by 314.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock worth $69,000 after acquiring an additional 2,630 shares during the period. GAMMA Investing LLC increased its holdings in shares of Macerich by 36.5% during the 4th quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust's stock worth $87,000 after acquiring an additional 1,174 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Macerich in the 4th quarter valued at $99,000. 87.38% of the stock is owned by institutional investors.

Macerich Price Performance

MAC stock traded down $0.44 during mid-day trading on Wednesday, hitting $15.63. The stock had a trading volume of 1,518,038 shares, compared to its average volume of 1,936,795. The firm has a fifty day simple moving average of $15.56 and a 200 day simple moving average of $18.50. The firm has a market capitalization of $3.95 billion, a P/E ratio of 40.08, a P/E/G ratio of 0.71 and a beta of 2.13. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a 52 week low of $12.48 and a 52 week high of $22.27.

Macerich (NYSE:MAC - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. The business had revenue of $249.22 million during the quarter, compared to the consensus estimate of $221.61 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. The company's revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 earnings per share. As a group, research analysts forecast that The Macerich Company will post 1.55 EPS for the current year.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Tuesday, June 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.35%. The ex-dividend date is Tuesday, June 3rd. Macerich's dividend payout ratio (DPR) is presently -158.14%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MAC. Truist Financial raised shares of Macerich from a "hold" rating to a "buy" rating and set a $19.00 target price for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. reduced their price objective on Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a report on Monday, March 10th. Piper Sandler lowered their target price on Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group reduced their price target on Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research note on Monday, March 10th. Finally, Morgan Stanley decreased their price objective on Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $18.95.

Macerich Company Profile

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.