The Macerich Company (NYSE:MAC) Shares Sold by Stifel Financial Corp

Stifel Financial Corp decreased its stake in The Macerich Company (NYSE:MAC - Free Report) by 65.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,145 shares of the real estate investment trust's stock after selling 44,405 shares during the period. Stifel Financial Corp's holdings in Macerich were worth $422,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its holdings in Macerich by 152.2% in the third quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 933 shares in the last quarter. Quest Partners LLC purchased a new position in Macerich in the 2nd quarter valued at approximately $50,000. GAMMA Investing LLC increased its stake in 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. acquired a new position in Macerich during the second quarter worth $129,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Macerich by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust's stock worth $150,000 after purchasing an additional 2,161 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Mizuho upgraded Macerich from an "underperform" rating to a "neutral" rating and raised their price target for the company from $14.00 to $22.00 in a research report on Wednesday, December 4th. Piper Sandler raised their target price on shares of Macerich from $14.00 to $17.00 and gave the company an "underweight" rating in a report on Wednesday, December 11th. Scotiabank raised shares of Macerich from a "sector underperform" rating to a "sector perform" rating and set a $22.00 price target on the stock in a report on Tuesday, December 17th. Bank of America raised their price objective on shares of Macerich from $17.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, October 11th. Finally, The Goldman Sachs Group lifted their price objective on Macerich from $13.00 to $14.60 and gave the stock a "sell" rating in a research report on Thursday, September 19th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $18.86.

Macerich Trading Down 2.1 %

Shares of MAC stock traded down $0.44 during mid-day trading on Friday, hitting $20.14. 754,337 shares of the company's stock were exchanged, compared to its average volume of 1,887,375. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of 51.64, a PEG ratio of 0.75 and a beta of 2.51. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a fifty-two week low of $12.99 and a fifty-two week high of $22.27. The stock has a 50-day simple moving average of $19.96 and a two-hundred day simple moving average of $17.35.

Macerich (NYSE:MAC - Get Free Report) last issued 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). Macerich had a return on equity of 3.15% and a net margin of 8.98%. The business had revenue of $220.20 million during the quarter, compared to analyst estimates of $208.54 million. During the same period in the previous year, the business posted $0.44 earnings per share. The firm's quarterly revenue was up .9% on a year-over-year basis. Equities analysts expect that The Macerich Company will post 1.56 EPS for the current fiscal year.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Tuesday, November 12th. Macerich's dividend payout ratio is currently 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.