Edgestream Partners L.P. Raises Stock Position in The Macerich Company (NYSE:MAC)

Edgestream Partners L.P. increased its position in shares of The Macerich Company (NYSE:MAC - Free Report) by 143.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 301,376 shares of the real estate investment trust's stock after acquiring an additional 177,645 shares during the quarter. Edgestream Partners L.P. owned about 0.13% of Macerich worth $5,497,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Lodestone Wealth Management LLC boosted its stake in Macerich by 0.6% in the 3rd quarter. Lodestone Wealth Management LLC now owns 154,082 shares of the real estate investment trust's stock worth $2,810,000 after purchasing an additional 859 shares in the last quarter. Townsquare Capital LLC lifted its stake in shares of Macerich by 7.2% during the third quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust's stock worth $245,000 after buying an additional 902 shares during the period. GAMMA Investing LLC grew its holdings in shares of Macerich by 40.9% during the third quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust's stock valued at $59,000 after buying an additional 933 shares during the last quarter. Blue Trust Inc. increased its position 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 valued at $28,000 after acquiring an additional 933 shares during the period. Finally, Assetmark Inc. raised its stake in Macerich by 5.6% in the 3rd quarter. Assetmark Inc. now owns 18,404 shares of the real estate investment trust's stock worth $336,000 after acquiring an additional 971 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MAC. Evercore ISI raised their price objective on Macerich from $15.00 to $16.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 28th. The Goldman Sachs Group raised their price target on shares of Macerich from $13.00 to $14.60 and gave the stock a "sell" rating in a research report on Thursday, September 19th. StockNews.com downgraded shares of Macerich from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. Bank of America raised their target price on shares of Macerich from $17.00 to $19.00 and gave the stock a "neutral" rating in a report on Friday, October 11th. Finally, Compass Point upped 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. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $16.40.

Macerich Price Performance

Shares of Macerich stock traded up $0.06 on Friday, hitting $21.21. The company's stock had a trading volume of 5,114,465 shares, compared to its average volume of 2,407,338. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 54.38, a price-to-earnings-growth ratio of 0.72 and a beta of 2.50. The Macerich Company has a 1 year low of $11.30 and a 1 year high of $21.71. The firm has a fifty day moving average price of $18.78 and a 200-day moving average price of $16.56. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92.

Macerich (NYSE:MAC - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $208.54 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. Macerich's revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 EPS. As a group, sell-side analysts anticipate that The Macerich Company will post 1.58 earnings per share for the current fiscal year.

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Tuesday, November 12th. Macerich's payout ratio is 174.36%.

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.