International Assets Investment Management LLC Has $4.75 Million Holdings in The Macerich Company (NYSE:MAC)

International Assets Investment Management LLC boosted its stake in The Macerich Company (NYSE:MAC - Free Report) by 1,298.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 260,598 shares of the real estate investment trust's stock after buying an additional 241,963 shares during the period. International Assets Investment Management LLC owned 0.12% of Macerich worth $4,753,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale lifted its holdings in shares of Macerich by 158.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 131,487 shares of the real estate investment trust's stock valued at $2,201,000 after buying an additional 80,541 shares during the period. Murphy Pohlad Asset Management LLC lifted its holdings in Macerich by 297.7% in the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 110,560 shares of the real estate investment trust's stock valued at $1,707,000 after acquiring an additional 82,760 shares during the last quarter. UniSuper Management Pty Ltd boosted its position in shares of Macerich by 82.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 112,724 shares of the real estate investment trust's stock valued at $1,942,000 after purchasing an additional 50,989 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Macerich by 1,845.1% in the 1st quarter. Russell Investments Group Ltd. now owns 1,168,864 shares of the real estate investment trust's stock worth $20,133,000 after purchasing an additional 1,108,770 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in shares of Macerich in the 2nd quarter worth approximately $10,625,000. Institutional investors and hedge funds own 87.38% of the company's stock.

Macerich Stock Down 2.0 %

Shares of NYSE MAC traded down $0.38 during mid-day trading on Friday, reaching $18.32. The company had a trading volume of 1,583,042 shares, compared to its average volume of 1,177,128. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a fifty day moving average of $17.30 and a two-hundred day moving average of $15.92. The Macerich Company has a 12-month low of $9.90 and a 12-month high of $19.09.

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.68 dividend on an annualized basis and a yield of 3.71%. Macerich's payout ratio is -206.05%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MAC shares. Piper Sandler lifted their price target on shares of Macerich from $11.00 to $14.00 and gave the stock an "underweight" rating in a research report on Tuesday, September 3rd. Evercore ISI boosted their target price 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 raised Macerich from a "sell" rating to a "hold" rating in a report on Friday, August 2nd. The Goldman Sachs Group lifted their price target on Macerich from $13.00 to $14.60 and gave the stock a "sell" rating in a research note on Thursday, September 19th. Finally, Bank of America upped their price objective 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. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $15.84.

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.