AQR Capital Management LLC Reduces Stock Position in The Macerich Company (NYSE:MAC)

AQR Capital Management LLC lowered its position in shares of The Macerich Company (NYSE:MAC) by 50.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,340 shares of the real estate investment trust’s stock after selling 35,504 shares during the period. AQR Capital Management LLC’s holdings in Macerich were worth $523,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MAC. Fidelis Capital Partners LLC purchased a new stake in Macerich during the 1st quarter valued at $46,000. Quest Partners LLC bought a new position in Macerich in the 2nd quarter worth $50,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Macerich in the 2nd quarter worth $129,000. Inspire Advisors LLC bought a new position in Macerich in the 2nd quarter worth $177,000. Finally, Mercer Global Advisors Inc. ADV raised its holdings in Macerich by 10.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 11,500 shares of the real estate investment trust’s stock worth $178,000 after purchasing an additional 1,132 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Wall Street Analysts Forecast Growth

MAC has been the subject of several research reports. Bank of America upped their price objective on shares of Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday. Evercore ISI upped their price objective on shares of Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Piper Sandler upped their price objective on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a report on Tuesday, September 3rd. StockNews.com upgraded shares of Macerich from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group increased their price target on shares of Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a research note on Thursday, September 19th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Macerich has an average rating of “Hold” and a consensus price target of $15.84.

Macerich Stock Down 0.2 %

NYSE:MAC opened at $18.10 on Tuesday. The firm has a market cap of $3.90 billion, a P/E ratio of -11.60, a P/E/G ratio of 0.60 and a beta of 2.50. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.86 and a current ratio of 0.86. The Macerich Company has a fifty-two week low of $9.21 and a fifty-two week high of $18.35. The firm has a 50-day simple moving average of $16.27 and a two-hundred day simple moving average of $15.70.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 19th were paid a dividend of $0.17 per share. The ex-dividend date was Monday, August 19th. This represents a $0.68 dividend on an annualized basis and a yield of 3.76%. Macerich’s dividend payout ratio is currently -43.59%.

Macerich Company Profile

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.