The Macerich Company (NYSE:MAC) Position Boosted by Townsquare Capital LLC

Townsquare Capital LLC raised its holdings in shares of The Macerich Company (NYSE:MAC) by 7.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,448 shares of the real estate investment trust’s stock after acquiring an additional 902 shares during the quarter. Townsquare Capital LLC’s holdings in Macerich were worth $245,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MAC. Blue Trust Inc. grew its stake in 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 acquiring an additional 933 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Macerich during the 2nd quarter valued at about $50,000. GAMMA Investing LLC lifted 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 valued at $59,000 after buying an additional 933 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Macerich during the 2nd quarter valued at about $129,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 buying an additional 2,161 shares during the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MAC. Mizuho upgraded Macerich from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $14.00 to $22.00 in a report on Wednesday. The Goldman Sachs Group lifted their price target on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a report on Thursday, September 19th. Piper Sandler boosted their target price on Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a report on Tuesday, September 3rd. Bank of America boosted their target price on Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Finally, StockNews.com lowered Macerich from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.29.

Macerich Stock Performance

Shares of NYSE MAC opened at $22.11 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 business’s 50 day moving average is $19.17 and its two-hundred day moving average is $16.75. The company has a market cap of $5.49 billion, a P/E ratio of 56.69, a P/E/G ratio of 0.72 and a beta of 2.51. The Macerich Company has a 12 month low of $12.66 and a 12 month high of $22.21.

Macerich (NYSE:MAC) last issued its quarterly 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 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 quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 earnings per share. On average, equities analysts expect that The Macerich Company will post 1.58 EPS for the current year.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Tuesday, November 12th. Macerich’s dividend payout ratio is presently 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.