Dimensional Fund Advisors LP Increases Stock Position in The Macerich Company (NYSE:MAC)

Dimensional Fund Advisors LP increased its holdings in The Macerich Company (NYSE:MAC) by 4.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,217,373 shares of the real estate investment trust’s stock after acquiring an additional 126,192 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Macerich were worth $49,675,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MAC. Fidelis Capital Partners LLC acquired a new position in shares of Macerich during the first quarter worth about $46,000. Quest Partners LLC purchased a new position in shares of Macerich during the 2nd quarter worth approximately $50,000. Entropy Technologies LP purchased a new stake in shares of Macerich in the first quarter valued at approximately $194,000. Inspire Advisors LLC purchased a new stake in shares of Macerich in the second quarter valued at approximately $177,000. Finally, American Assets Investment Management LLC purchased a new position in Macerich in the fourth quarter worth $282,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Price Performance

Shares of MAC opened at $17.95 on Monday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $3.87 billion, a PE ratio of -11.51, a PEG ratio of 0.58 and a beta of 2.49. The firm’s 50 day moving average price is $15.83 and its 200 day moving average price is $15.61. The Macerich Company has a twelve month low of $9.21 and a twelve month high of $18.05.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 19th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend was Monday, August 19th. Macerich’s dividend payout ratio (DPR) is currently -43.59%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Piper Sandler raised their price objective on Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a research note on Tuesday, September 3rd. The Goldman Sachs Group raised their price target on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research report on Thursday, September 19th. StockNews.com upgraded shares of Macerich from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Evercore ISI raised their target price on shares of Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Four 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $15.45.

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.