Charles Schwab Investment Management Inc. lifted its position in shares of The Macerich Company (NYSE:MAC - Free Report) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,801,369 shares of the real estate investment trust's stock after buying an additional 113,128 shares during the period. Charles Schwab Investment Management Inc. owned about 2.22% of Macerich worth $87,577,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of MAC. Blue Trust Inc. grew its position in Macerich by 152.2% during 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 last quarter. Quest Partners LLC bought a new stake in shares of Macerich in the 2nd quarter worth approximately $50,000. GAMMA Investing LLC grew its position 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 worth $59,000 after buying an additional 933 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Macerich in the 2nd quarter worth approximately $129,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position 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 worth $150,000 after buying an additional 2,161 shares during the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on MAC. Evercore ISI lifted their price objective on Macerich from $15.00 to $16.00 and gave the stock an "in-line" rating in a research report on Wednesday, August 28th. StockNews.com lowered Macerich from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. Compass Point lifted their price objective on Macerich from $20.00 to $23.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Piper Sandler lifted their price objective on Macerich from $11.00 to $14.00 and gave the stock an "underweight" rating in a research report on Tuesday, September 3rd. Finally, The Goldman Sachs Group lifted their price target on Macerich from $13.00 to $14.60 and gave the company a "sell" rating in a research report on Thursday, September 19th. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Macerich currently has a consensus rating of "Hold" and a consensus price target of $16.40.
Get Our Latest Analysis on Macerich
Macerich Stock Up 1.1 %
NYSE:MAC traded up $0.22 during trading hours on Thursday, reaching $21.15. 9,912,260 shares of the company traded hands, compared to its average volume of 1,832,639. The business's 50-day moving average price is $18.63 and its two-hundred day moving average price is $16.49. The stock has a market capitalization of $4.77 billion, a P/E ratio of 54.23, a P/E/G ratio of 0.69 and a beta of 2.50. The Macerich Company has a 1 year low of $10.86 and a 1 year high of $21.71. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.
Macerich (NYSE:MAC - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.90). The company had revenue of $220.20 million for the quarter, compared to analysts' expectations of $208.54 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. The firm's quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 EPS. Analysts predict that The Macerich Company will post 1.59 earnings per share for the current year.
Macerich Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Tuesday, November 12th. Macerich's payout ratio is 174.36%.
Macerich Profile
(
Free Report)
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.
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