The Macerich Company (NYSE:MAC) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG grew its stake in shares of The Macerich Company (NYSE:MAC - Free Report) by 63.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 926,459 shares of the real estate investment trust's stock after purchasing an additional 360,966 shares during the quarter. Deutsche Bank AG owned 0.37% of Macerich worth $18,455,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MAC. Quantbot Technologies LP purchased a new stake in shares of Macerich during the 4th quarter valued at about $30,000. Blue Trust Inc. grew its position in 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 acquiring an additional 1,064 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Macerich by 314.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock valued at $69,000 after purchasing an additional 2,630 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Macerich during the fourth quarter worth $99,000. Finally, CIBC Private Wealth Group LLC boosted its position in Macerich by 9.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 5,787 shares of the real estate investment trust's stock valued at $118,000 after buying an additional 512 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MAC. The Goldman Sachs Group dropped their price target on shares of Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research note on Monday, March 10th. 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 research report on Thursday, April 10th. Piper Sandler cut their target price on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a research note on Friday, February 28th. Scotiabank decreased their price target on Macerich from $21.00 to $16.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Finally, Morgan Stanley lowered their price objective on Macerich from $20.00 to $19.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $18.95.

Macerich Stock Performance

MAC stock opened at $15.63 on Thursday. The Macerich Company has a 1 year low of $12.48 and a 1 year high of $22.27. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 40.08, a PEG ratio of 0.71 and a beta of 2.13. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The stock's fifty day moving average is $15.54 and its two-hundred day moving average is $18.48.

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

Macerich Dividend Announcement

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

About Macerich

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.

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