Natixis Advisors LLC Trims Holdings in The Macerich Company (NYSE:MAC)

Natixis Advisors LLC reduced its stake in The Macerich Company (NYSE:MAC) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 171,229 shares of the real estate investment trust’s stock after selling 7,905 shares during the period. Natixis Advisors LLC’s holdings in Macerich were worth $3,123,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Blue Trust Inc. lifted its holdings in shares of Macerich by 152.2% during the 3rd 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 during the period. Quest Partners LLC bought a new stake in shares of Macerich during the second quarter valued at approximately $50,000. GAMMA Investing LLC lifted 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 worth $59,000 after purchasing an additional 933 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Macerich in the second quarter worth about $129,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Macerich by 34.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock valued at $150,000 after acquiring an additional 2,161 shares during the last quarter. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Stock Up 0.8 %

Shares of NYSE MAC opened at $19.72 on Friday. 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 firm has a market cap of $4.45 billion, a price-to-earnings ratio of 50.57, a PEG ratio of 0.67 and a beta of 2.50. The Macerich Company has a 52-week low of $10.75 and a 52-week high of $20.40. The business’s 50 day moving average is $18.38 and its two-hundred day moving average is $16.38.

Macerich (NYSE:MAC) last posted its earnings results 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 business had revenue of $220.20 million during the quarter, compared to analysts’ expectations of $208.54 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS. Research analysts predict that The Macerich Company will post 1.59 EPS for the current year.

Macerich Announces Dividend

The business also recently announced 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. The ex-dividend date is Tuesday, November 12th. This represents a $0.68 annualized dividend and a dividend yield of 3.45%. Macerich’s payout ratio is currently 174.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Piper Sandler boosted their target price on Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a research report on Tuesday, September 3rd. 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 upped 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. Evercore ISI increased their target price on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Finally, Compass Point lifted 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 investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.