Intech Investment Management LLC Has $2.87 Million Stock Holdings in Macerich Company (The) $MAC

Intech Investment Management LLC increased its holdings in shares of Macerich Company (The) (NYSE:MAC) by 39.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 167,341 shares of the real estate investment trust’s stock after purchasing an additional 47,089 shares during the period. Intech Investment Management LLC owned approximately 0.07% of Macerich worth $2,873,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. TCTC Holdings LLC acquired a new position in Macerich in the 1st quarter valued at approximately $1,449,000. Asset Management One Co. Ltd. raised its holdings in shares of Macerich by 3.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 367,295 shares of the real estate investment trust’s stock worth $6,306,000 after buying an additional 12,327 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Macerich by 1,644.0% in the 1st quarter. GAMMA Investing LLC now owns 76,527 shares of the real estate investment trust’s stock worth $1,314,000 after buying an additional 72,139 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Macerich by 0.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 331,726 shares of the real estate investment trust’s stock worth $5,696,000 after buying an additional 3,032 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of Macerich in the 1st quarter worth approximately $622,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Stock Performance

Shares of Macerich stock opened at $18.17 on Monday. The stock’s fifty day simple moving average is $17.34 and its 200 day simple moving average is $16.37. Macerich Company has a 12 month low of $12.48 and a 12 month high of $22.27. The company has a market capitalization of $4.59 billion, a PE ratio of -10.38, a PEG ratio of 3.50 and a beta of 2.27. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.00.

Macerich (NYSE:MAC) last released its quarterly earnings results on Monday, August 11th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Macerich had a negative net margin of 41.33% and a negative return on equity of 15.15%. The firm had revenue of $249.79 million during the quarter, compared to analyst estimates of $245.19 million. During the same period in the prior year, the business earned $0.39 EPS. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, research analysts predict that Macerich Company will post 1.55 EPS for the current year.

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Tuesday, September 9th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, September 9th. Macerich’s dividend payout ratio is presently -38.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MAC shares. JPMorgan Chase & Co. increased their price target on Macerich from $18.00 to $19.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 27th. Truist Financial increased their price target on Macerich from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Scotiabank upped their price target on Macerich from $16.00 to $18.00 and gave the company a “sector perform” rating in a research note on Thursday, August 28th. Mizuho raised shares of Macerich from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $22.00 to $18.00 in a research note on Tuesday, June 10th. Finally, Wall Street Zen lowered Macerich from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.78.

About Macerich

Macerich is a fully integrated, self-managed and self-administered real estate investment trust (REIT). As a leading owner, operator and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, DC corridor.