87,519 Shares in The Macerich Company (NYSE:MAC) Acquired by Intech Investment Management LLC

Intech Investment Management LLC acquired a new position in The Macerich Company (NYSE:MAC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 87,519 shares of the real estate investment trust’s stock, valued at approximately $1,596,000.

Several other institutional investors have also recently bought and sold shares of MAC. Smead Capital Management Inc. raised its position in Macerich by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock worth $372,706,000 after purchasing an additional 688,790 shares during the last quarter. Sei Investments Co. bought a new position in Macerich in the 2nd quarter worth approximately $10,625,000. Millennium Management LLC raised its position in Macerich by 153.0% in the 2nd quarter. Millennium Management LLC now owns 791,903 shares of the real estate investment trust’s stock worth $12,227,000 after purchasing an additional 478,930 shares during the last quarter. Candriam S.C.A. raised its position in Macerich by 138.2% in the 2nd quarter. Candriam S.C.A. now owns 528,252 shares of the real estate investment trust’s stock worth $8,156,000 after purchasing an additional 306,509 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Macerich in the 3rd quarter worth approximately $4,797,000. Institutional investors own 87.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler upped their target price on shares of Macerich from $11.00 to $14.00 and gave the company 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 research report on Friday, October 11th. The Goldman Sachs Group upped their target price 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. Compass Point upped their target price on shares of Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Evercore ISI upped their target price on shares of Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a research 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 given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $16.40.

Macerich Price Performance

Shares of MAC stock opened at $20.32 on Tuesday. The Macerich Company has a 12-month low of $10.75 and a 12-month high of $20.42. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 52.10, a price-to-earnings-growth ratio of 0.67 and a beta of 2.50. 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 firm has a fifty day moving average of $18.46 and a 200-day moving average of $16.41.

Macerich (NYSE:MAC) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). The company had revenue of $220.20 million during the quarter, compared to analyst estimates of $208.54 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. Macerich’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share. On average, equities research analysts forecast that The Macerich Company will post 1.59 earnings per share for the current year.

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Tuesday, November 12th. Macerich’s payout ratio is presently 174.36%.

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.