Triad Investment Management Invests $3.82 Million in Macerich Company (The) $MAC

Triad Investment Management acquired a new stake in Macerich Company (The) (NYSE:MAC) during the fourth quarter, HoldingsChannel reports. The firm acquired 206,916 shares of the real estate investment trust’s stock, valued at approximately $3,820,000. Macerich comprises about 3.9% of Triad Investment Management’s investment portfolio, making the stock its 10th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Triumph Capital Management purchased a new stake in Macerich during the third quarter worth approximately $33,000. Danske Bank A S purchased a new position in Macerich in the third quarter valued at approximately $56,000. GAMMA Investing LLC raised its holdings in Macerich by 14.8% during the third quarter. GAMMA Investing LLC now owns 5,371 shares of the real estate investment trust’s stock worth $98,000 after purchasing an additional 691 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Macerich by 16.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,205 shares of the real estate investment trust’s stock worth $100,000 after purchasing an additional 858 shares in the last quarter. Finally, Archer Investment Corp lifted its position in shares of Macerich by 25.9% during the 3rd quarter. Archer Investment Corp now owns 7,179 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 1,479 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Wall Street Analysts Forecast Growth

MAC has been the subject of several research analyst reports. Scotiabank upgraded shares of Macerich from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $19.00 to $22.00 in a report on Monday. JPMorgan Chase & Co. boosted their price target on shares of Macerich from $18.00 to $19.00 and gave the company an “underweight” rating in a research report on Tuesday, March 10th. The Goldman Sachs Group upped their price objective on shares of Macerich from $15.00 to $17.00 and gave the company a “sell” rating in a research note on Monday, March 2nd. Citigroup raised their price objective on Macerich from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Finally, KeyCorp set a $25.00 target price on Macerich and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Seven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.83.

Macerich Stock Performance

Shares of MAC opened at $19.39 on Thursday. The company’s 50 day simple moving average is $19.08 and its 200-day simple moving average is $18.22. The firm has a market cap of $4.98 billion, a PE ratio of -25.18, a price-to-earnings-growth ratio of 1.30 and a beta of 2.17. Macerich Company has a 12-month low of $12.48 and a 12-month high of $20.93. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 2.01.

Macerich (NYSE:MAC) last released its quarterly earnings results on Wednesday, February 18th. The real estate investment trust reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.43 by ($0.50). The business had revenue of $261.70 million during the quarter, compared to analysts’ expectations of $260.48 million. Macerich had a negative net margin of 19.44% and a negative return on equity of 7.32%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 EPS. As a group, equities analysts predict that Macerich Company will post 1.55 EPS for the current year.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, March 16th. Macerich’s dividend payout ratio is presently -88.31%.

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.