Assetmark Inc. Has $336,000 Stock Position in The Macerich Company (NYSE:MAC)

Assetmark Inc. lifted its stake in shares of The Macerich Company (NYSE:MAC) by 5.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 18,404 shares of the real estate investment trust’s stock after purchasing an additional 971 shares during the quarter. Assetmark Inc.’s holdings in Macerich were worth $336,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MAC. Vanguard Group Inc. increased its holdings in Macerich by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 34,672,065 shares of the real estate investment trust’s stock worth $597,400,000 after purchasing an additional 193,787 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Macerich by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,217,373 shares of the real estate investment trust’s stock valued at $49,675,000 after buying an additional 126,192 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Macerich by 10.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,233,600 shares of the real estate investment trust’s stock valued at $19,047,000 after buying an additional 116,200 shares during the last quarter. Millennium Management LLC grew its holdings in Macerich by 153.0% during the 2nd quarter. Millennium Management LLC now owns 791,903 shares of the real estate investment trust’s stock worth $12,227,000 after acquiring an additional 478,930 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in Macerich in the 2nd quarter valued at approximately $10,625,000. 87.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MAC shares. Piper Sandler increased 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. Bank of America lifted their price objective on Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. The Goldman Sachs Group upped their target price on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research report on Thursday, September 19th. Evercore ISI lifted their target price on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Finally, Compass Point increased 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. Five investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Macerich currently has a consensus rating of “Hold” and an average target price of $16.40.

Macerich Trading Up 0.2 %

Shares of Macerich stock opened at $19.27 on Friday. The Macerich Company has a 52 week low of $10.75 and a 52 week high of $20.40. The stock has a 50 day moving average price of $18.02 and a two-hundred day moving average price of $16.19. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $4.35 billion, a PE ratio of 49.41, a price-to-earnings-growth ratio of 0.65 and a beta of 2.50.

Macerich (NYSE:MAC) last issued 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 company had revenue of $220.20 million for the quarter, compared to the consensus estimate of $208.54 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. As a group, equities analysts anticipate that The Macerich Company will post 1.6 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.68 annualized dividend and a yield of 3.53%. Macerich’s dividend payout ratio (DPR) is 174.36%.

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.