Point72 Asset Management L.P. Lowers Stake in The Macerich Company (NYSE:MAC)

Point72 Asset Management L.P. trimmed its holdings in The Macerich Company (NYSE:MAC) by 59.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 286,532 shares of the real estate investment trust’s stock after selling 426,447 shares during the quarter. Point72 Asset Management L.P.’s holdings in Macerich were worth $4,424,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in Macerich by 7.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 19,322 shares of the real estate investment trust’s stock valued at $298,000 after acquiring an additional 1,333 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of Macerich by 227.2% during the fourth quarter. Corient Private Wealth LLC now owns 43,584 shares of the real estate investment trust’s stock worth $673,000 after purchasing an additional 30,264 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Macerich by 12.1% during the fourth quarter. Hsbc Holdings PLC now owns 126,062 shares of the real estate investment trust’s stock worth $1,945,000 after purchasing an additional 13,576 shares during the period. 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 valued at $360,000 after buying an additional 1,275 shares during the last quarter. Finally, American Assets Investment Management LLC acquired a new stake in shares of Macerich in the 4th quarter worth $282,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Stock Performance

Shares of MAC stock opened at $17.68 on Thursday. The stock has a fifty day moving average price of $15.89 and a 200 day moving average price of $15.63. 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 stock has a market cap of $3.81 billion, a PE ratio of -11.33, a P/E/G ratio of 0.58 and a beta of 2.49. The Macerich Company has a 1 year low of $9.21 and a 1 year high of $18.33.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 19th were given a $0.17 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.68 annualized dividend and a dividend yield of 3.85%. Macerich’s dividend payout ratio is presently -43.59%.

Analysts Set New Price Targets

Several research analysts recently issued reports on MAC shares. Evercore ISI raised their price objective 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. StockNews.com raised Macerich from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Piper Sandler lifted their price target on Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a research note on Tuesday, September 3rd. Finally, The Goldman Sachs Group increased their price objective on Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a research report on Thursday, September 19th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Macerich presently has a consensus rating of “Hold” and an average target price of $15.45.

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.