ProShare Advisors LLC Sells 10,308 Shares of The Macerich Company (NYSE:MAC)

ProShare Advisors LLC reduced its stake in shares of The Macerich Company (NYSE:MAC) by 23.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,277 shares of the real estate investment trust’s stock after selling 10,308 shares during the quarter. ProShare Advisors LLC’s holdings in Macerich were worth $514,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MAC. SeaCrest Wealth Management LLC raised its position in shares of 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 valued at $1,050,000 after buying an additional 978 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Macerich by 10.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 11,500 shares of the real estate investment trust’s stock valued at $178,000 after acquiring an additional 1,132 shares during the period. Arizona State Retirement System raised its holdings 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 valued at $932,000 after acquiring an additional 1,181 shares in the last quarter. Swiss National Bank lifted its position in shares of 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 acquiring an additional 1,200 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in shares of Macerich by 5.8% during 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 in the last quarter. 87.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on MAC shares. Piper Sandler raised their target price on Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 3rd. StockNews.com raised shares of Macerich from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. 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 note on Wednesday, August 28th. Finally, The Goldman Sachs Group raised their price target on shares of Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a research note on Thursday, September 19th. Four 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 data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $15.45.

Macerich Trading Up 1.6 %

Shares of MAC stock opened at $18.24 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $3.93 billion, a P/E ratio of -11.69, a P/E/G ratio of 0.58 and a beta of 2.49. The Macerich Company has a 12-month low of $9.21 and a 12-month high of $18.33. The firm has a 50-day moving average price of $15.87 and a 200 day moving average price of $15.62.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 19th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend was Monday, August 19th. Macerich’s payout ratio is currently -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.