Quantbot Technologies LP Acquires New Stake in The Macerich Company (NYSE:MAC)

Quantbot Technologies LP bought a new position in The Macerich Company (NYSE:MAC) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,531 shares of the real estate investment trust’s stock, valued at approximately $30,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bamco Inc. NY lifted its holdings in shares of Macerich by 742.3% during the 3rd quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust’s stock worth $30,924,000 after acquiring an additional 1,494,145 shares during the last quarter. Friedenthal Financial bought a new stake in Macerich during the fourth quarter worth about $771,000. Smartleaf Asset Management LLC boosted its holdings in shares of Macerich by 314.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 2,630 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Macerich by 20.4% in the 4th quarter. Van ECK Associates Corp now owns 44,843 shares of the real estate investment trust’s stock worth $893,000 after purchasing an additional 7,608 shares in the last quarter. Finally, New York State Teachers Retirement System increased its position in shares of Macerich by 2.2% during the 4th quarter. New York State Teachers Retirement System now owns 183,508 shares of the real estate investment trust’s stock valued at $3,655,000 after purchasing an additional 3,979 shares during the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Stock Down 0.5 %

Shares of MAC opened at $17.08 on Wednesday. The business’s 50 day moving average is $18.92 and its 200 day moving average is $19.21. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a 12-month low of $12.99 and a 12-month high of $22.27. The company has a market capitalization of $4.31 billion, a PE ratio of 43.79, a price-to-earnings-growth ratio of 0.71 and a beta of 2.62.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date was Tuesday, March 4th. Macerich’s dividend payout ratio (DPR) is presently -86.08%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. The Goldman Sachs Group decreased their price objective on Macerich from $16.70 to $14.40 and set a “sell” rating on the stock in a report on Monday, March 10th. Jefferies Financial Group raised Macerich from a “hold” rating to a “buy” rating and lifted their price target for the stock from $19.00 to $23.00 in a research note on Thursday, January 2nd. Scotiabank lowered their price objective on Macerich from $22.00 to $21.00 and set a “sector perform” rating for the company in a research report on Thursday, March 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Macerich in a report on Tuesday, December 17th. They issued a “hold” rating and a $22.00 target price on the stock. Finally, Mizuho upgraded shares of Macerich from an “underperform” rating to a “neutral” rating and upped their price target for the company from $14.00 to $22.00 in a report on Wednesday, December 4th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.37.

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.