Intech Investment Management LLC Has $1.87 Million Stock Position in Macerich Company (The) $MAC

Intech Investment Management LLC lessened its holdings in Macerich Company (The) (NYSE:MAC) by 19.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 102,759 shares of the real estate investment trust’s stock after selling 24,782 shares during the quarter. Intech Investment Management LLC’s holdings in Macerich were worth $1,870,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Royal Bank of Canada boosted its position in Macerich by 20.1% in the first quarter. Royal Bank of Canada now owns 77,872 shares of the real estate investment trust’s stock valued at $1,338,000 after buying an additional 13,018 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Macerich by 2.2% during the 1st quarter. AQR Capital Management LLC now owns 37,808 shares of the real estate investment trust’s stock valued at $640,000 after acquiring an additional 813 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Macerich by 10.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 148,592 shares of the real estate investment trust’s stock worth $2,551,000 after acquiring an additional 13,782 shares during the last quarter. Millennium Management LLC grew its position in Macerich by 376.2% during the 1st quarter. Millennium Management LLC now owns 906,843 shares of the real estate investment trust’s stock worth $15,570,000 after acquiring an additional 716,394 shares during the last quarter. Finally, Empowered Funds LLC raised its position in Macerich by 12.8% in the first quarter. Empowered Funds LLC now owns 26,361 shares of the real estate investment trust’s stock valued at $453,000 after purchasing an additional 2,983 shares during the last quarter. 87.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Truist Financial boosted their price target on Macerich from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. The Goldman Sachs Group boosted their target price on shares of Macerich from $15.00 to $17.00 and gave the stock a “sell” rating in a report on Monday. Jefferies Financial Group reiterated a “buy” rating and set a $21.00 price target on shares of Macerich in a report on Monday, December 15th. Weiss Ratings restated a “sell (d+)” rating on shares of Macerich in a report on Thursday, January 22nd. Finally, Mizuho set a $21.00 target price on Macerich in a report on Friday, January 9th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.46.

Macerich Trading Up 2.0%

MAC opened at $20.29 on Thursday. Macerich Company has a fifty-two week low of $12.48 and a fifty-two week high of $20.93. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.02 and a quick ratio of 1.02. The company’s 50-day moving average is $18.95 and its 200 day moving average is $18.11. The firm has a market capitalization of $5.21 billion, a PE ratio of -26.35, a P/E/G ratio of 1.36 and a beta of 2.17.

Macerich (NYSE:MAC) last released its quarterly earnings results on Wednesday, February 18th. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.50). Macerich had a negative net margin of 19.44% and a negative return on equity of 7.32%. The firm had revenue of $261.70 million for the quarter, compared to the consensus estimate of $260.48 million. During the same period in the previous year, the business earned $0.47 earnings per share. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, research analysts predict that Macerich Company will post 1.55 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, March 16th. Macerich’s dividend payout ratio (DPR) is -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.