DigitalBridge Group Inc. Invests $9.15 Million in Macerich Company (The) $MAC

DigitalBridge Group Inc. acquired a new stake in Macerich Company (The) (NYSE:MAC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 513,200 shares of the real estate investment trust’s stock, valued at approximately $9,146,000. DigitalBridge Group Inc. owned about 0.20% of Macerich as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Triumph Capital Management acquired a new position in Macerich in the third quarter valued at approximately $33,000. GAMMA Investing LLC boosted its stake 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 worth $98,000 after purchasing an additional 691 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Macerich by 16.0% during 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. Archer Investment Corp lifted its stake 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 worth $131,000 after purchasing an additional 1,479 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Macerich during the 2nd quarter worth approximately $191,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Macerich in a report on Thursday, January 22nd. The Goldman Sachs Group raised their target price on Macerich from $15.00 to $17.00 and gave the stock a “sell” rating in a research note on Monday, March 2nd. KeyCorp set a $25.00 price target on Macerich and gave the stock an “overweight” rating in a report on Monday, February 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $21.00 price objective on shares of Macerich in a report on Monday, December 15th. Finally, Mizuho set a $21.00 target price on shares of Macerich in a report on Friday, January 9th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Macerich currently has a consensus rating of “Hold” and an average target price of $20.46.

Macerich Price Performance

Shares of MAC opened at $19.06 on Wednesday. The stock has a market cap of $4.89 billion, a PE ratio of -24.75, a price-to-earnings-growth ratio of 1.30 and a beta of 2.17. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.02 and a quick ratio of 1.02. Macerich Company has a 1-year low of $12.48 and a 1-year high of $20.93. The firm has a fifty day moving average price of $19.02 and a 200 day moving average price of $18.19.

Macerich (NYSE:MAC) last posted its quarterly earnings data on Wednesday, February 18th. The real estate investment trust reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.50). The business had revenue of $261.70 million during the quarter, compared to analyst estimates of $260.48 million. Macerich had a negative net margin of 19.44% and a negative return on equity of 7.32%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 earnings per share. As a group, sell-side analysts anticipate that Macerich Company will post 1.55 EPS for the current year.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.6%. Macerich’s payout ratio is currently -88.31%.

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.