The Macerich Company (NYSE:MAC) Stock Position Trimmed by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. cut its position in The Macerich Company (NYSE:MAC) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 67,404 shares of the real estate investment trust’s stock after selling 2,694 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Macerich were worth $1,041,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MAC. Russell Investments Group Ltd. lifted its position in Macerich by 49.8% in the 4th quarter. Russell Investments Group Ltd. now owns 60,094 shares of the real estate investment trust’s stock valued at $930,000 after purchasing an additional 19,969 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Macerich during the 4th quarter worth about $452,000. Vanguard Personalized Indexing Management LLC raised its position in shares of Macerich by 11.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 17,610 shares of the real estate investment trust’s stock worth $272,000 after buying an additional 1,805 shares in the last quarter. Norges Bank bought a new stake in shares of Macerich during the 4th quarter worth about $22,210,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Macerich by 7.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 19,322 shares of the real estate investment trust’s stock worth $298,000 after buying an additional 1,333 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Evercore ISI boosted their price target on shares of Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group dropped their price target on shares of Macerich from $14.00 to $12.50 and set a “sell” rating on the stock in a research report on Monday, June 17th. StockNews.com upgraded shares of Macerich from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Piper Sandler boosted their target price on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a report on Tuesday, September 3rd. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.19.

Macerich Stock Performance

Macerich stock opened at $16.49 on Monday. The firm’s 50 day simple moving average is $15.49 and its 200-day simple moving average is $15.53. The company has a market cap of $3.56 billion, a P/E ratio of -10.57, a price-to-earnings-growth ratio of 0.53 and a beta of 2.49. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.86 and a quick ratio of 0.86. The Macerich Company has a fifty-two week low of $9.21 and a fifty-two week high of $17.69.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 19th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Monday, August 19th. Macerich’s dividend payout ratio (DPR) is currently -43.59%.

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.