Amalgamated Bank Sells 2,270 Shares of The Macerich Company (NYSE:MAC)

Amalgamated Bank decreased its stake in The Macerich Company (NYSE:MAC) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,668 shares of the real estate investment trust’s stock after selling 2,270 shares during the quarter. Amalgamated Bank’s holdings in Macerich were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its position in shares of Macerich by 47.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 33,768 shares of the real estate investment trust’s stock valued at $582,000 after acquiring an additional 10,790 shares during the period. Swiss National Bank increased its stake in Macerich by 0.3% in the first quarter. Swiss National Bank now owns 425,415 shares of the real estate investment trust’s stock valued at $7,330,000 after purchasing an additional 1,200 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Macerich by 1,845.1% in the first 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 period. ProShare Advisors LLC boosted its position in shares of Macerich by 7.4% during the first quarter. ProShare Advisors LLC now owns 43,585 shares of the real estate investment trust’s stock worth $751,000 after purchasing an additional 3,011 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of Macerich in the 1st quarter valued at $194,000. Institutional investors own 87.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MAC shares. Piper Sandler raised their price objective on Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 3rd. Evercore ISI lifted their price objective on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Bank of America increased their target price on Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. The Goldman Sachs Group lifted their price target on shares of Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research note on Thursday, September 19th. Finally, Compass Point increased their price objective on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Five research 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $16.40.

Macerich Stock Performance

Shares of MAC stock opened at $19.14 on Thursday. The firm has a market cap of $4.32 billion, a PE ratio of 49.08, a P/E/G ratio of 0.66 and a beta of 2.50. The Macerich Company has a 12 month low of $10.61 and a 12 month high of $20.40. The company’s fifty day simple moving average is $17.86 and its 200-day simple moving average is $16.13. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich (NYSE:MAC) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). The business had revenue of $220.20 million for the quarter, compared to analyst estimates of $208.54 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share. Equities research analysts expect that The Macerich Company will post 1.6 EPS for the current fiscal year.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Tuesday, November 12th. Macerich’s dividend payout ratio (DPR) is 174.36%.

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.