The Macerich Company (NYSE:MAC) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC reduced its stake in shares of The Macerich Company (NYSE:MAC - Free Report) by 29.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,295 shares of the real estate investment trust's stock after selling 24,436 shares during the quarter. HighTower Advisors LLC's holdings in Macerich were worth $1,081,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MAC. Smead Capital Management Inc. grew its position in shares of Macerich by 3.5% during the third quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust's stock worth $372,706,000 after buying an additional 688,790 shares in the last quarter. FMR LLC grew its holdings in Macerich by 12,475.9% during the 3rd quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust's stock worth $214,738,000 after acquiring an additional 11,679,276 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Macerich by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,801,369 shares of the real estate investment trust's stock worth $87,577,000 after acquiring an additional 113,128 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Macerich by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,217,373 shares of the real estate investment trust's stock worth $49,675,000 after purchasing an additional 126,192 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Macerich by 1.1% in the 3rd quarter. Fisher Asset Management LLC now owns 2,995,741 shares of the real estate investment trust's stock valued at $54,642,000 after purchasing an additional 31,586 shares in the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.

Macerich Stock Performance

Macerich stock traded down $1.33 during mid-day trading on Wednesday, hitting $20.03. 3,670,177 shares of the company's stock traded hands, compared to its average volume of 1,877,170. The Macerich Company has a one year low of $12.99 and a one year high of $22.27. The company has a market cap of $4.98 billion, a PE ratio of 51.36, a price-to-earnings-growth ratio of 0.74 and a beta of 2.51. The firm has a 50 day moving average price of $19.71 and a 200 day moving average price of $17.12. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich (NYSE:MAC - Get Free Report) last announced its 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 the consensus estimate of $208.54 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. The business's quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. On average, equities analysts forecast that The Macerich Company will post 1.56 EPS for the current year.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.39%. The ex-dividend date was Tuesday, November 12th. Macerich's dividend payout ratio (DPR) is presently 174.36%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. The Goldman Sachs Group boosted their price objective on Macerich from $13.00 to $14.60 and gave the company a "sell" rating in a report on Thursday, September 19th. Compass Point boosted their price target on Macerich from $20.00 to $23.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft started coverage on Macerich in a research note on Tuesday. They set a "hold" rating and a $22.00 price objective on the stock. Bank of America boosted their target price on shares of Macerich from $17.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, October 11th. Finally, Mizuho raised shares of Macerich from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $14.00 to $22.00 in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a sell rating, seven have issued 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 an average target price of $18.86.

Macerich 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.