Fisher Asset Management LLC Buys 31,586 Shares of The Macerich Company (NYSE:MAC)

Fisher Asset Management LLC raised its stake in shares of The Macerich Company (NYSE:MAC - Free Report) by 1.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,995,741 shares of the real estate investment trust's stock after buying an additional 31,586 shares during the quarter. Fisher Asset Management LLC owned about 1.39% of Macerich worth $54,642,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of 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 acquiring an additional 933 shares during the period. Quest Partners LLC purchased a new stake in Macerich in the 2nd quarter worth approximately $50,000. GAMMA Investing LLC boosted its holdings 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 during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Macerich during the 2nd quarter valued at $129,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Macerich by 34.8% in 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 during the period. 87.38% of the stock is currently owned by institutional investors.

Macerich Trading Up 0.8 %

MAC stock traded up $0.17 during midday trading on Wednesday, hitting $21.10. The company had a trading volume of 3,241,985 shares, compared to its average volume of 1,802,031. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a 52 week low of $10.86 and a 52 week high of $21.71. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 55.31, a PEG ratio of 0.69 and a beta of 2.50. The stock's 50 day moving average price is $18.54 and its 200 day moving average price is $16.45.

Macerich (NYSE:MAC - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing the consensus estimate of $0.40 by ($0.90). The firm had revenue of $220.20 million for 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 revenue was up .9% on a year-over-year basis. During the same period last year, the company posted $0.44 earnings per share. As a group, equities research analysts expect that The Macerich Company will post 1.59 earnings per share for the current fiscal year.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.22%. The ex-dividend date is Tuesday, November 12th. Macerich's dividend payout ratio (DPR) is currently 174.36%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MAC shares. Piper Sandler boosted their target price on Macerich from $11.00 to $14.00 and gave the stock an "underweight" rating in a research report on Tuesday, September 3rd. Compass Point boosted their price objective on Macerich from $20.00 to $23.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. StockNews.com downgraded shares of Macerich from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. Bank of America boosted their price target 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 boosted their price target on shares of Macerich from $13.00 to $14.60 and gave the stock a "sell" rating in a research note on Thursday, September 19th. 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. According to MarketBeat.com, Macerich currently has a consensus rating of "Hold" and a consensus price target of $16.40.

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.