The Macerich Company (NYSE:MAC) Shares Acquired by Inspire Investing LLC

Inspire Investing LLC increased its position in The Macerich Company (NYSE:MAC) by 35.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,219 shares of the real estate investment trust’s stock after buying an additional 7,321 shares during the period. Inspire Investing LLC’s holdings in Macerich were worth $436,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Quest Partners LLC acquired a new position in shares of Macerich in the fourth quarter valued at approximately $41,000. Fidelis Capital Partners LLC acquired a new position in Macerich during the first quarter worth approximately $46,000. Entropy Technologies LP acquired a new position in Macerich during the first quarter worth approximately $194,000. Inspire Advisors LLC acquired a new position in Macerich during the second quarter worth approximately $177,000. Finally, Mercer Global Advisors Inc. ADV increased its position in Macerich by 10.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 11,500 shares of the real estate investment trust’s stock worth $178,000 after purchasing an additional 1,132 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com raised shares of Macerich from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Evercore ISI upped 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. Piper Sandler upped their price target on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 3rd. Finally, 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. Four 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.45.

Macerich Price Performance

MAC opened at $17.65 on Friday. The company has a market cap of $3.81 billion, a P/E ratio of -11.31, a P/E/G ratio of 0.53 and a beta of 2.49. The company has a 50 day moving average of $15.67 and a two-hundred day moving average of $15.56. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.76. The Macerich Company has a 52-week low of $9.21 and a 52-week high of $17.73.

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 paid a $0.17 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.68 annualized dividend and a dividend yield of 3.85%. Macerich’s dividend payout ratio (DPR) is presently -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.