Quantbot Technologies LP Buys New Position in Macerich Company (The) $MAC

Quantbot Technologies LP purchased a new position in shares of Macerich Company (The) (NYSE:MAC) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 58,588 shares of the real estate investment trust’s stock, valued at approximately $1,476,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MAC. Fifth Third Bancorp lifted its stake in Macerich by 14.7% during the 1st quarter. Fifth Third Bancorp now owns 3,666 shares of the real estate investment trust’s stock valued at $69,000 after acquiring an additional 471 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Macerich by 1.2% in the 4th quarter. HighTower Advisors LLC now owns 46,116 shares of the real estate investment trust’s stock worth $851,000 after acquiring an additional 530 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of Macerich by 76.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 585 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Macerich by 2.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 24,659 shares of the real estate investment trust’s stock valued at $455,000 after purchasing an additional 622 shares during the last quarter. Finally, Osaic Holdings Inc. raised its holdings in shares of Macerich by 5.5% in the fourth quarter. Osaic Holdings Inc. now owns 12,116 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 637 shares during the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MAC has been the topic of several analyst reports. JPMorgan Chase & Co. upgraded shares of Macerich from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $23.00 to $25.00 in a report on Wednesday, June 17th. Scotiabank increased their price objective on shares of Macerich from $24.00 to $27.00 and gave the company a “sector outperform” rating in a research note on Thursday, June 18th. Weiss Ratings raised shares of Macerich from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. Griffin Securities set a $26.00 target price on Macerich in a research note on Tuesday, August 18th. Finally, Citigroup increased their price target on Macerich from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.75.

Macerich Price Performance

Shares of NYSE:MAC opened at $24.29 on Wednesday. The company has a market capitalization of $6.89 billion, a P/E ratio of -37.36, a price-to-earnings-growth ratio of 1.72 and a beta of 2.07. The company’s 50-day moving average is $25.03 and its 200 day moving average is $22.33. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.88 and a current ratio of 0.88. Macerich Company has a fifty-two week low of $16.03 and a fifty-two week high of $26.67.

Macerich (NYSE:MAC) last posted its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). Macerich had a negative return on equity of 6.26% and a negative net margin of 16.85%.The company had revenue of $249.71 million for the quarter, compared to analysts’ expectations of $239.77 million. During the same quarter last year, the business posted $0.33 EPS. The business’s quarterly revenue was up .0% on a year-over-year basis. On average, equities research analysts forecast that Macerich Company will post 1.49 earnings per share for the current year.

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Monday, September 14th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, September 14th. Macerich’s payout ratio is currently -104.62%.

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.