UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Position in The Macerich Company (NYSE:MAC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in The Macerich Company (NYSE:MAC - Free Report) by 399.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,546,373 shares of the real estate investment trust's stock after acquiring an additional 1,236,983 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.69% of Macerich worth $28,206,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MAC. Lodestone Wealth Management LLC increased its stake in Macerich by 0.6% in the third quarter. Lodestone Wealth Management LLC now owns 154,082 shares of the real estate investment trust's stock valued at $2,810,000 after purchasing an additional 859 shares in the last quarter. Townsquare Capital LLC raised its stake in Macerich by 7.2% during the 3rd 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 boosted its holdings in Macerich by 40.9% in the third quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust's stock worth $59,000 after acquiring an additional 933 shares in the last quarter. Blue Trust Inc. grew its stake 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 acquiring an additional 933 shares during the period. Finally, Assetmark Inc. raised its position in shares of Macerich by 5.6% during the third quarter. Assetmark Inc. now owns 18,404 shares of the real estate investment trust's stock worth $336,000 after purchasing an additional 971 shares during the period. Institutional investors and hedge funds own 87.38% of the company's stock.

Macerich Price Performance

MAC stock traded up $0.41 during mid-day trading on Thursday, hitting $21.89. 704,191 shares of the stock were exchanged, compared to its average volume of 1,858,401. The business has a fifty day moving average price of $19.00 and a 200 day moving average price of $16.67. The Macerich Company has a 12 month low of $12.62 and a 12 month high of $21.98. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 55.21, a PEG ratio of 0.72 and a beta of 2.51.

Macerich (NYSE:MAC - Get Free Report) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share 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 company's revenue was up .9% on a year-over-year basis. During the same period last year, the firm posted $0.44 EPS. On average, sell-side analysts anticipate that The Macerich Company will post 1.58 EPS for the current year.

Macerich Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.17 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.11%. Macerich's dividend payout ratio is currently 174.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Piper Sandler lifted their price target on Macerich from $11.00 to $14.00 and gave the company an "underweight" rating in a research note on Tuesday, September 3rd. Compass Point upped their price target on Macerich from $20.00 to $23.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Bank of America lifted their price objective on shares of Macerich from $17.00 to $19.00 and gave the stock a "neutral" rating in a report on Friday, October 11th. StockNews.com lowered shares of Macerich from a "hold" rating to a "sell" rating in a research note on Thursday, November 7th. Finally, Mizuho raised shares of 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. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Macerich has an average rating of "Hold" and a consensus price target of $17.29.

About Macerich

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.