The Macerich Company (NYSE:MAC) Shares Sold by American Assets Capital Advisers LLC

American Assets Capital Advisers LLC lessened its position in The Macerich Company (NYSE:MAC - Free Report) by 59.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 326,754 shares of the real estate investment trust's stock after selling 477,377 shares during the period. Macerich makes up 1.8% of American Assets Capital Advisers LLC's investment portfolio, making the stock its 21st largest holding. American Assets Capital Advisers LLC owned 0.15% of Macerich worth $5,960,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MAC. Blue Trust Inc. lifted its stake in shares of Macerich by 152.2% in the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust's stock worth $28,000 after acquiring an additional 933 shares during the period. Quest Partners LLC purchased a new position in shares of Macerich in the 2nd quarter valued at about $50,000. GAMMA Investing LLC increased its holdings in shares of Macerich by 40.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 933 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Macerich in the 2nd quarter valued at about $129,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Macerich by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust's stock valued at $150,000 after purchasing an additional 2,161 shares in the last quarter. Institutional investors and hedge funds own 87.38% of the company's stock.

Macerich Trading Down 2.8 %

Shares of NYSE MAC traded down $0.56 during midday trading on Tuesday, reaching $19.38. 2,364,809 shares of the stock were exchanged, compared to its average volume of 1,775,825. The company has a market capitalization of $4.19 billion, a P/E ratio of 49.69, a P/E/G ratio of 0.65 and a beta of 2.50. The Macerich Company has a 52-week low of $10.00 and a 52-week high of $20.40. The company has a current ratio of 0.92, a quick ratio of 0.86 and a debt-to-equity ratio of 1.68. The stock has a 50 day moving average price of $17.79 and a 200-day moving average price of $16.11.

Macerich (NYSE:MAC - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.90). The firm had revenue of $220.20 million for the quarter, compared to analysts' expectations of $208.54 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. The business's quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share. Equities research analysts expect that The Macerich Company will post 1.61 earnings per share for the current fiscal year.

Macerich Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.51%. Macerich's dividend payout ratio (DPR) is presently 174.36%.

Analyst Ratings Changes

MAC has been the subject of a number of research analyst reports. Evercore ISI increased their price target on shares of Macerich from $15.00 to $16.00 and gave the company an "in-line" rating in a report on Wednesday, August 28th. StockNews.com downgraded shares of Macerich from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. Compass Point increased their price target on shares of Macerich from $20.00 to $23.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Piper Sandler increased their price target on shares of Macerich from $11.00 to $14.00 and gave the company an "underweight" rating in a report on Tuesday, September 3rd. Finally, Bank of America raised their target price on shares of Macerich from $17.00 to $19.00 and gave the company a "neutral" rating in a report on Friday, October 11th. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $16.40.

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.