The Macerich Company (NYSE:MAC) Shares Sold by Creative Planning

Creative Planning lessened its position in shares of The Macerich Company (NYSE:MAC) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 303,130 shares of the real estate investment trust’s stock after selling 1,405 shares during the quarter. Creative Planning owned approximately 0.14% of Macerich worth $4,680,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new stake in shares of Macerich in the first quarter valued at about $46,000. Quest Partners LLC acquired a new stake in shares of Macerich in the second quarter valued at about $50,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Macerich in the second quarter valued at about $129,000. Entropy Technologies LP purchased a new position in shares of Macerich in the first quarter worth about $194,000. Finally, Inspire Advisors LLC purchased a new position in shares of Macerich in the second quarter worth about $177,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Price Performance

Macerich stock opened at $17.43 on Friday. The company’s 50 day simple moving average is $15.93 and its 200-day simple moving average is $15.65. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of -11.17, a price-to-earnings-growth ratio of 0.58 and a beta of 2.49. The Macerich Company has a 1 year low of $9.21 and a 1 year high of $18.33. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.86 and a current ratio of 0.86.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 19th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend was Monday, August 19th. Macerich’s dividend payout ratio (DPR) is -43.59%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group raised 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. Evercore ISI lifted their target price on shares of Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Piper Sandler lifted their target price on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 3rd. Finally, StockNews.com raised shares of Macerich from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned 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 $15.45.

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.