Deutsche Bank AG Purchases New Holdings in Macerich Company (The) $MAC

Deutsche Bank AG acquired a new position in Macerich Company (The) (NYSE:MAC) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,515,222 shares of the real estate investment trust’s stock, valued at approximately $138,928,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Centersquare Investment Management LLC raised its stake in Macerich by 149.6% during the 4th quarter. Centersquare Investment Management LLC now owns 6,354,661 shares of the real estate investment trust’s stock valued at $117,307,000 after purchasing an additional 3,808,336 shares during the period. Norges Bank acquired a new stake in shares of Macerich in the fourth quarter worth $66,924,000. Resolution Capital Ltd grew its holdings in shares of Macerich by 204.0% during the first quarter. Resolution Capital Ltd now owns 4,384,180 shares of the real estate investment trust’s stock valued at $82,861,000 after buying an additional 2,941,909 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Macerich during the second quarter valued at $59,962,000. Finally, Wellington Management Group LLP raised its position in Macerich by 139.8% during the fourth quarter. Wellington Management Group LLP now owns 3,675,803 shares of the real estate investment trust’s stock valued at $67,855,000 after buying an additional 2,142,737 shares during the period. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Macerich Price Performance

Shares of MAC opened at $24.89 on Thursday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $7.06 billion, a PE ratio of -38.30, a PEG ratio of 1.72 and a beta of 2.07. The firm’s 50 day moving average price is $25.06 and its 200 day moving average price is $22.17. Macerich Company has a twelve month low of $16.03 and a twelve month high of $26.67.

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

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Monday, September 14th will be issued a $0.17 dividend. The ex-dividend date is Monday, September 14th. This represents a $0.68 dividend on an annualized basis and a yield of 2.7%. Macerich’s dividend payout ratio is currently -104.62%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MAC. Mizuho set a $28.00 price objective on Macerich in a research note on Wednesday, August 5th. KeyCorp lifted their target price on Macerich from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. Jefferies Financial Group upgraded Macerich to a “strong-buy” rating in a report on Friday, June 26th. Evercore set a $25.00 price target on shares of Macerich in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group raised their price target on shares of Macerich from $17.00 to $19.00 and gave the stock a “sell” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Macerich has a consensus rating of “Moderate Buy” and an average price target of $25.75.

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.