Rockefeller Capital Management L.P. Sells 772 Shares of The Macerich Company (NYSE:MAC)

Rockefeller Capital Management L.P. trimmed its stake in shares of The Macerich Company (NYSE:MAC) by 1.5% during the third quarter, Holdings Channel.com reports. The firm owned 50,253 shares of the real estate investment trust’s stock after selling 772 shares during the period. Rockefeller Capital Management L.P.’s holdings in Macerich were worth $917,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MAC. Blue Trust Inc. boosted its position in Macerich by 152.2% in 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 last quarter. Quest Partners LLC bought a new stake in shares of Macerich during the second quarter worth $50,000. GAMMA Investing LLC lifted its stake in shares of Macerich by 40.9% during the third quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 933 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Macerich in the second quarter valued at about $129,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in 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 owned by institutional investors.

Macerich Stock Performance

Shares of Macerich stock opened at $22.11 on Monday. The Macerich Company has a 12 month low of $12.66 and a 12 month high of $22.21. 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 company has a market capitalization of $5.49 billion, a PE ratio of 56.69, a PEG ratio of 0.74 and a beta of 2.51. The stock’s fifty day simple moving average is $19.17 and its 200 day simple moving average is $16.77.

Macerich (NYSE:MAC) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). Macerich had a net margin of 8.98% and a return on equity of 3.15%. The firm had revenue of $220.20 million during the quarter, compared to analyst estimates of $208.54 million. During the same period in the prior year, the business posted $0.44 EPS. The firm’s quarterly revenue was up .9% compared to the same quarter last year. On average, research analysts predict that The Macerich Company will post 1.58 EPS for the current year.

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors 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 annualized dividend and a yield of 3.08%. Macerich’s payout ratio is presently 174.36%.

Analyst Ratings Changes

Several research analysts have recently issued reports on MAC shares. Mizuho raised shares of Macerich from an “underperform” rating to a “neutral” rating and raised their target price for the company from $14.00 to $22.00 in a research note on Wednesday, December 4th. Piper Sandler raised their price objective on shares of Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a research note on Tuesday, September 3rd. Bank of America upped their target price on shares of Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. StockNews.com lowered Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, Evercore ISI upped 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. Four analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Macerich has an average rating of “Hold” and an average price target of $17.29.

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.