114,245 Shares in The Macerich Company (NYSE:MAC) Purchased by DigitalBridge Group Inc.

DigitalBridge Group Inc. acquired a new position in shares of The Macerich Company (NYSE:MAC) during the 2nd quarter, HoldingsChannel reports. The firm acquired 114,245 shares of the real estate investment trust’s stock, valued at approximately $1,764,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. SeaCrest Wealth Management LLC raised its stake in Macerich by 1.6% during the first quarter. SeaCrest Wealth Management LLC now owns 60,937 shares of the real estate investment trust’s stock worth $1,050,000 after acquiring an additional 978 shares during the period. Mercer Global Advisors Inc. ADV grew its position in Macerich by 10.9% in the 2nd 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. Arizona State Retirement System grew its position in Macerich by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 60,391 shares of the real estate investment trust’s stock worth $932,000 after purchasing an additional 1,181 shares during the last quarter. Swiss National Bank grew its position in Macerich by 0.3% in the 1st quarter. Swiss National Bank now owns 425,415 shares of the real estate investment trust’s stock worth $7,330,000 after purchasing an additional 1,200 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in Macerich by 5.8% in the 4th quarter. CIBC Asset Management Inc now owns 23,313 shares of the real estate investment trust’s stock worth $360,000 after purchasing an additional 1,275 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Analyst Upgrades and Downgrades

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

Macerich Stock Down 0.8 %

Shares of NYSE:MAC opened at $17.52 on Thursday. 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 company has a market cap of $3.78 billion, a PE ratio of -11.23, a price-to-earnings-growth ratio of 0.58 and a beta of 2.49. The Macerich Company has a 52 week low of $9.21 and a 52 week high of $17.83. The firm has a 50 day simple moving average of $15.77 and a 200 day simple moving average of $15.59.

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 19th were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.68 dividend on an annualized basis and a yield of 3.88%. Macerich’s payout ratio is -43.59%.

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.