Quantbot Technologies LP Reduces Position in Macerich Co (MAC)

Quantbot Technologies LP decreased its stake in shares of Macerich Co (NYSE:MAC) by 81.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,750 shares of the real estate investment trust’s stock after selling 46,259 shares during the quarter. Quantbot Technologies LP’s holdings in Macerich were worth $594,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MAC. Bank of America Corp DE raised its stake in Macerich by 206.8% during the second quarter. Bank of America Corp DE now owns 4,263,864 shares of the real estate investment trust’s stock valued at $242,316,000 after buying an additional 2,874,194 shares during the last quarter. Centersquare Investment Management LLC raised its stake in Macerich by 1,970.4% during the second quarter. Centersquare Investment Management LLC now owns 730,444 shares of the real estate investment trust’s stock valued at $41,511,000 after buying an additional 695,164 shares during the last quarter. Millennium Management LLC raised its stake in Macerich by 5,624.2% during the second quarter. Millennium Management LLC now owns 625,313 shares of the real estate investment trust’s stock valued at $35,537,000 after buying an additional 614,389 shares during the last quarter. Crabel Capital Management LLC purchased a new position in Macerich during the second quarter valued at $28,642,000. Finally, BlackRock Inc. raised its stake in Macerich by 3.5% during the second quarter. BlackRock Inc. now owns 11,835,896 shares of the real estate investment trust’s stock valued at $672,633,000 after buying an additional 395,528 shares during the last quarter. Institutional investors and hedge funds own 96.68% of the company’s stock.

In other Macerich news, insider Dana K. Anderson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $51.65, for a total transaction of $516,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.76% of the company’s stock.

Shares of Macerich stock opened at $50.92 on Friday. Macerich Co has a 12 month low of $48.16 and a 12 month high of $69.73. The company has a market cap of $6.99 billion, a P/E ratio of 12.96, a PEG ratio of 2.13 and a beta of 0.83. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.96 and a quick ratio of 0.96.

Macerich (NYSE:MAC) last announced its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.32. Macerich had a return on equity of 3.29% and a net margin of 8.35%. The company had revenue of $242.20 million during the quarter, compared to analyst estimates of $220.02 million. During the same period in the prior year, the company earned $0.12 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. Research analysts predict that Macerich Co will post 3.85 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Friday, November 9th were given a dividend of $0.75 per share. The ex-dividend date was Thursday, November 8th. This is an increase from Macerich’s previous quarterly dividend of $0.74. This represents a $3.00 dividend on an annualized basis and a yield of 5.89%. Macerich’s dividend payout ratio is 76.34%.

MAC has been the subject of a number of recent research reports. Scotiabank initiated coverage on Macerich in a research note on Tuesday, October 16th. They set a “sector perform” rating for the company. BMO Capital Markets reiterated a “buy” rating and set a $64.00 price objective on shares of Macerich in a research note on Tuesday, September 25th. Zacks Investment Research upgraded Macerich from a “sell” rating to a “hold” rating in a research note on Monday, September 3rd. Bank of America lifted their price objective on Macerich from $60.00 to $62.00 and gave the company a “neutral” rating in a research note on Monday, August 13th. Finally, SunTrust Banks reiterated a “hold” rating and set a $60.00 price objective on shares of Macerich in a research note on Thursday, August 16th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. Macerich presently has an average rating of “Hold” and a consensus target price of $63.78.

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Macerich Company Profile

Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 52 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.

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Institutional Ownership by Quarter for Macerich (NYSE:MAC)

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