Assetmark Inc. Has $336,000 Position in The Macerich Company (NYSE:MAC)

Assetmark Inc. lifted its holdings in shares of The Macerich Company (NYSE:MAC) by 5.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,404 shares of the real estate investment trust’s stock after buying an additional 971 shares during the period. Assetmark Inc.’s holdings in Macerich were worth $336,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. boosted its position in Macerich by 152.2% during the third quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 933 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Macerich during the 2nd quarter worth approximately $50,000. GAMMA Investing LLC raised its stake in shares of Macerich by 40.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 933 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Macerich in the second quarter valued at $129,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Macerich by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 2,161 shares in the last quarter. Institutional investors own 87.38% of the company’s stock.

Wall Street Analyst Weigh In

MAC has been the subject of a number of analyst reports. Bank of America lifted their price objective on shares of Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. StockNews.com downgraded Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Evercore ISI boosted their target price on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. The Goldman Sachs Group raised their price target on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a report on Thursday, September 19th. Finally, Compass Point upped their price objective on shares of Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Macerich presently has a consensus rating of “Hold” and a consensus price target of $16.40.

Macerich Stock Performance

Shares of Macerich stock opened at $19.27 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The company has a market cap of $4.35 billion, a PE ratio of 49.41, a price-to-earnings-growth ratio of 0.65 and a beta of 2.50. The company has a 50 day moving average of $18.02 and a 200-day moving average of $16.19. The Macerich Company has a 1-year low of $10.75 and a 1-year high of $20.40.

Macerich (NYSE:MAC) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.90). Macerich had a return on equity of 3.15% and a net margin of 8.98%. The business had revenue of $220.20 million for the quarter, compared to the consensus estimate of $208.54 million. During the same quarter in the previous year, the company earned $0.44 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities research analysts forecast that The Macerich Company will post 1.6 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Tuesday, November 12th. Macerich’s dividend payout ratio is presently 174.36%.

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.