International Assets Investment Management LLC Acquires 241,963 Shares of The Macerich Company (NYSE:MAC)

International Assets Investment Management LLC boosted its holdings in The Macerich Company (NYSE:MAC) by 1,298.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 260,598 shares of the real estate investment trust’s stock after buying an additional 241,963 shares during the period. International Assets Investment Management LLC owned approximately 0.12% of Macerich worth $4,753,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. DekaBank Deutsche Girozentrale increased its position in Macerich by 158.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 131,487 shares of the real estate investment trust’s stock worth $2,201,000 after acquiring an additional 80,541 shares during the period. Murphy Pohlad Asset Management LLC increased its holdings in shares of Macerich by 297.7% during the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 110,560 shares of the real estate investment trust’s stock worth $1,707,000 after purchasing an additional 82,760 shares during the period. UniSuper Management Pty Ltd raised its position in shares of Macerich by 82.6% during the first quarter. UniSuper Management Pty Ltd now owns 112,724 shares of the real estate investment trust’s stock valued at $1,942,000 after buying an additional 50,989 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Macerich by 1,845.1% in the first quarter. Russell Investments Group Ltd. now owns 1,168,864 shares of the real estate investment trust’s stock valued at $20,133,000 after buying an additional 1,108,770 shares during the period. Finally, Sei Investments Co. acquired a new stake in Macerich during the second quarter worth about $10,625,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MAC has been the subject of a number of research reports. The Goldman Sachs Group raised 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. Evercore ISI boosted their price target on shares of Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. Bank of America raised their price objective on shares of Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. 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 note on Tuesday, September 3rd. Finally, StockNews.com upgraded shares of Macerich from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Macerich currently has an average rating of “Hold” and an average target price of $15.84.

Macerich Trading Down 2.0 %

Shares of MAC opened at $18.32 on Friday. 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 $3.96 billion, a price-to-earnings ratio of -55.51, a PEG ratio of 0.63 and a beta of 2.50. The stock has a fifty day moving average price of $17.24 and a two-hundred day moving average price of $15.91. The Macerich Company has a 52-week low of $9.90 and a 52-week high of $19.09.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, November 12th. Macerich’s dividend payout ratio is currently -206.05%.

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.