Macerich Company (The) $MAC Shares Sold by Triad Investment Management

Triad Investment Management reduced its stake in shares of Macerich Company (The) (NYSE:MAC) by 48.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 106,916 shares of the real estate investment trust’s stock after selling 100,000 shares during the quarter. Macerich accounts for 3.0% of Triad Investment Management’s holdings, making the stock its 15th largest position. Triad Investment Management’s holdings in Macerich were worth $2,693,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Macerich

In other news, CAO Christopher Zecchini sold 2,740 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $23.28, for a total value of $63,787.20. Following the transaction, the chief accounting officer owned 847 shares in the company, valued at $19,718.16. This trade represents a 76.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.21% of the stock is currently owned by company insiders.

Macerich Stock Down 2.4%

Shares of NYSE MAC opened at $23.02 on Thursday. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of -35.42, a price-to-earnings-growth ratio of 1.70 and a beta of 2.06. The company’s 50-day simple moving average is $24.77 and its 200-day simple moving average is $22.68. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.67. Macerich Company has a 52-week low of $16.03 and a 52-week high of $26.67.

Macerich (NYSE:MAC) last released 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 for the quarter, compared to analyst estimates of $239.77 million. Macerich had a negative return on equity of 6.26% and a negative net margin of 16.85%.The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the company earned $0.33 EPS. Equities analysts predict that Macerich Company will post 1.49 EPS for the current fiscal year.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Monday, September 14th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.0%. Macerich’s dividend payout ratio is presently -104.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MAC shares. Mizuho set a $28.00 target price on shares of Macerich in a research note on Wednesday, August 5th. KeyCorp lifted their price target on Macerich from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. Morgan Stanley upped their price target on Macerich from $20.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday, June 18th. The Goldman Sachs Group reiterated a “sell” rating and set a $21.00 price target on shares of Macerich in a research report on Tuesday, September 1st. Finally, Piper Sandler raised Macerich from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $28.00 to $30.00 in a report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.00.

Macerich 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.