Van ECK Associates Corp Has $681,000 Position in The Macerich Company (NYSE:MAC)

Van ECK Associates Corp raised its position in The Macerich Company (NYSE:MAC) by 12.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,235 shares of the real estate investment trust’s stock after buying an additional 4,086 shares during the quarter. Van ECK Associates Corp’s holdings in Macerich were worth $681,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of Macerich by 152.2% in 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 in the last quarter. Quest Partners LLC acquired a new position in Macerich in the 2nd quarter valued at $50,000. GAMMA Investing LLC lifted its position 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 acquiring an additional 933 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Macerich during the 2nd quarter valued at $129,000. Finally, Mirae Asset Global Investments Co. Ltd. grew 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 worth $150,000 after purchasing an additional 2,161 shares in the last quarter. Institutional investors own 87.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MAC shares. Compass Point upped their price objective 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 upped their price target on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a report on Tuesday, September 3rd. StockNews.com lowered shares of Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their price objective on shares of Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research report on Thursday, September 19th. Finally, Evercore ISI raised their target price on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. 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 company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $16.40.

Macerich Trading Down 2.8 %

NYSE MAC opened at $19.38 on Wednesday. The company has a market cap of $4.19 billion, a price-to-earnings ratio of 49.69, a price-to-earnings-growth ratio of 0.65 and a beta of 2.50. The Macerich Company has a twelve month low of $10.00 and a twelve month high of $20.40. The company has a quick ratio of 0.86, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The business’s fifty day moving average is $17.79 and its 200 day moving average is $16.11.

Macerich (NYSE:MAC) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.90). Macerich had a return on equity of 3.15% and a net margin of 8.98%. The firm had revenue of $220.20 million for the quarter, compared to the consensus estimate of $208.54 million. During the same quarter last year, the firm posted $0.44 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. As a group, sell-side analysts expect that The Macerich Company will post 1.61 EPS for the current fiscal year.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.51%. Macerich’s dividend payout ratio (DPR) is presently 174.36%.

Macerich Company 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.