The Macerich Company (NYSE:MAC) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in shares of The Macerich Company (NYSE:MAC) by 7.7% during the third quarter, Holdings Channel reports. The firm owned 89,058 shares of the real estate investment trust’s stock after acquiring an additional 6,346 shares during the quarter. Victory Capital Management Inc.’s holdings in Macerich were worth $1,624,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale raised its stake 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 raised its position 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. Sei Investments Co. bought a new stake in shares of Macerich in the 2nd quarter worth approximately $10,625,000. Millennium Management LLC lifted its holdings in shares of Macerich by 153.0% in the 2nd quarter. Millennium Management LLC now owns 791,903 shares of the real estate investment trust’s stock worth $12,227,000 after purchasing an additional 478,930 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in Macerich by 1,298.4% during the 3rd quarter. International Assets Investment Management LLC now owns 260,598 shares of the real estate investment trust’s stock valued at $4,753,000 after purchasing an additional 241,963 shares during the period. 87.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Compass Point raised their target price on Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. 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. Evercore ISI upped their target price on shares of Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Piper Sandler lifted their price target on Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a report 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 report on Thursday, September 19th. Five 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.40.

Macerich Trading Up 3.0 %

Macerich stock opened at $20.32 on Tuesday. The Macerich Company has a 12-month low of $10.75 and a 12-month high of $20.42. The stock has a market capitalization of $4.58 billion, a PE ratio of 52.10, a price-to-earnings-growth ratio of 0.67 and a beta of 2.50. The firm has a 50 day simple moving average of $18.46 and a 200-day simple moving average of $16.41. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92.

Macerich (NYSE:MAC) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.90). The firm had revenue of $220.20 million for the quarter, compared to analyst estimates of $208.54 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 earnings per share. As a group, equities research analysts expect that The Macerich Company will post 1.59 EPS for the current fiscal year.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Tuesday, November 12th. Macerich’s payout ratio is 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.