Creative Planning Reduces Holdings in The Macerich Company (NYSE:MAC)

Creative Planning lowered its position in shares of The Macerich Company (NYSE:MAC) by 0.5% during the second quarter, HoldingsChannel reports. The firm owned 303,130 shares of the real estate investment trust’s stock after selling 1,405 shares during the period. Creative Planning’s holdings in Macerich were worth $4,680,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Algert Global LLC grew its stake in shares of Macerich by 35.0% during the second quarter. Algert Global LLC now owns 158,841 shares of the real estate investment trust’s stock valued at $2,453,000 after acquiring an additional 41,141 shares in the last quarter. Millennium Management LLC grew its stake in shares of Macerich by 153.0% during the second quarter. Millennium Management LLC now owns 791,903 shares of the real estate investment trust’s stock valued at $12,227,000 after acquiring an additional 478,930 shares in the last quarter. DigitalBridge Group Inc. acquired a new stake in shares of Macerich during the second quarter valued at about $1,764,000. Caxton Associates LP grew its stake in Macerich by 260.5% in the second quarter. Caxton Associates LP now owns 98,823 shares of the real estate investment trust’s stock worth $1,526,000 after purchasing an additional 71,410 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Macerich in the second quarter worth about $129,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Trading Down 1.4 %

NYSE:MAC opened at $17.43 on Friday. The Macerich Company has a 1 year low of $9.21 and a 1 year high of $18.33. The business has a fifty day moving average of $15.93 and a 200-day moving average of $15.65. 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 $3.76 billion, a price-to-earnings ratio of -11.17, a PEG ratio of 0.58 and a beta of 2.49.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 19th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend was Monday, August 19th. Macerich’s dividend payout ratio is currently -43.59%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MAC shares. StockNews.com upgraded Macerich from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Piper Sandler raised their target price on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a report on Tuesday, September 3rd. Evercore ISI upped their target price on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Finally, The Goldman Sachs Group upped their price objective on 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 issued a buy rating to the company. Based on data from MarketBeat, Macerich has a consensus rating of “Hold” and a consensus target price of $15.45.

Macerich 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.