Metis Global Partners LLC Buys 5,280 Shares of The Macerich Company (NYSE:MAC)

Metis Global Partners LLC grew its stake in The Macerich Company (NYSE:MAC) by 31.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,242 shares of the real estate investment trust’s stock after purchasing an additional 5,280 shares during the quarter. Metis Global Partners LLC’s holdings in Macerich were worth $406,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MAC. Blue Trust Inc. increased its position in shares of Macerich by 152.2% during the third 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 Macerich during the 2nd quarter valued at approximately $50,000. GAMMA Investing LLC grew its holdings in shares of Macerich by 40.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 933 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Macerich in the 2nd quarter worth approximately $129,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Macerich by 34.8% in 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 purchasing an additional 2,161 shares during the period. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Trading Up 0.3 %

NYSE:MAC opened at $19.32 on Tuesday. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 49.54, a PEG ratio of 0.65 and a beta of 2.50. 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 company’s 50 day moving average price is $18.10 and its 200-day moving average price is $16.25. The Macerich Company has a 52 week low of $10.75 and a 52 week high of $20.40.

Macerich (NYSE:MAC) last issued 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). Macerich had a net margin of 8.98% and a return on equity of 3.15%. The business had revenue of $220.20 million for the quarter, compared to analysts’ expectations of $208.54 million. During the same quarter in the prior year, the business posted $0.44 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts forecast that The Macerich Company will post 1.59 earnings per share for the current fiscal year.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.68 annualized dividend and a yield of 3.52%. Macerich’s payout ratio is 174.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Evercore ISI upped their price target on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Compass Point upped their target price 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. Piper Sandler lifted their price target on shares of Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a research report on Tuesday, September 3rd. The Goldman Sachs Group boosted their price objective 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. Finally, StockNews.com downgraded shares of Macerich from a “hold” rating to a “sell” rating in a research note 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.40.

About Macerich

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.