Quantinno Capital Management LP Purchases 87,626 Shares of Macerich Company (The) $MAC

Quantinno Capital Management LP lifted its holdings in Macerich Company (The) (NYSE:MAC) by 165.6% during the first quarter, HoldingsChannel.com reports. The firm owned 140,543 shares of the real estate investment trust’s stock after purchasing an additional 87,626 shares during the period. Quantinno Capital Management LP’s holdings in Macerich were worth $2,656,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada boosted its position in shares of 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 acquiring an additional 13,018 shares during the period. AQR Capital Management LLC boosted its position 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 worth $640,000 after acquiring an additional 813 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Macerich by 10.2% during the first 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 purchasing an additional 13,782 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Macerich by 376.2% in the 1st quarter. Millennium Management LLC now owns 906,843 shares of the real estate investment trust’s stock valued at $15,570,000 after purchasing an additional 716,394 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Macerich by 12.8% during the 1st quarter. Empowered Funds LLC now owns 26,361 shares of the real estate investment trust’s stock worth $453,000 after buying an additional 2,983 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors.

Macerich Price Performance

Shares of MAC opened at $24.51 on Monday. 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 52-week low of $16.03 and a 52-week high of $26.67. The business’s 50 day moving average price is $24.85 and its two-hundred day moving average price is $21.82. The firm has a market cap of $6.95 billion, a PE ratio of -37.70, a price-to-earnings-growth ratio of 1.72 and a beta of 2.07.

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

Macerich Dividend Announcement

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

Analyst Ratings Changes

MAC has been the topic of a number of recent analyst reports. Piper Sandler lifted their target price on Macerich from $21.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. KeyCorp upped their price objective on shares of Macerich from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Evercore set a $25.00 target price on shares of Macerich in a research report on Thursday. Morgan Stanley increased their price target on Macerich from $20.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, June 18th. Finally, Wall Street Zen upgraded Macerich from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Macerich presently has an average rating of “Moderate Buy” and an average price target of $25.67.

About Macerich

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.