Versor Investments LP Makes New $516,000 Investment in The Macerich Company (NYSE:MAC)

Versor Investments LP purchased a new stake in The Macerich Company (NYSE:MAC) in the third quarter, Holdings Channel.com reports. The fund purchased 28,300 shares of the real estate investment trust’s stock, valued at approximately $516,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale increased its holdings in Macerich by 158.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 131,487 shares of the real estate investment trust’s stock valued at $2,201,000 after buying an additional 80,541 shares in the last quarter. Murphy Pohlad Asset Management LLC grew its holdings in Macerich by 297.7% in the second quarter. Murphy Pohlad Asset Management LLC now owns 110,560 shares of the real estate investment trust’s stock valued at $1,707,000 after purchasing an additional 82,760 shares during the last quarter. UniSuper Management Pty Ltd boosted its position in shares of Macerich by 82.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 112,724 shares of the real estate investment trust’s stock worth $1,942,000 after buying an additional 50,989 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Macerich by 1,845.1% in the 1st quarter. Russell Investments Group Ltd. now owns 1,168,864 shares of the real estate investment trust’s stock valued at $20,133,000 after acquiring an additional 1,108,770 shares during the last quarter. Finally, Sei Investments Co. purchased a new position in Macerich during the 2nd quarter valued at about $10,625,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Trading Down 1.2 %

MAC stock opened at $19.14 on Thursday. 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 company has a market cap of $4.32 billion, a price-to-earnings ratio of 49.08, a PEG ratio of 0.66 and a beta of 2.50. The business has a fifty day simple moving average of $17.86 and a 200-day simple moving average of $16.13. The Macerich Company has a 52 week low of $10.61 and a 52 week high of $20.40.

Macerich (NYSE:MAC) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $208.54 million. During the same quarter last year, the business earned $0.44 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities research analysts expect that The Macerich Company will post 1.6 EPS for the current year.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.17 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.68 annualized dividend and a yield of 3.55%. Macerich’s dividend payout ratio is currently 174.36%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. StockNews.com downgraded shares of Macerich from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Compass Point increased their target price on Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Piper Sandler lifted their price objective on Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 3rd. Bank of America upped their target price on shares of Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Finally, Evercore ISI lifted their price target on shares of Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Five research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Macerich has a consensus rating of “Hold” and a consensus target price of $16.40.

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.