The Macerich Company (NYSE:MAC) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its position in shares of The Macerich Company (NYSE:MAC) by 5.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 169,999 shares of the real estate investment trust’s stock after selling 9,488 shares during the period. Thrivent Financial for Lutherans’ holdings in Macerich were worth $3,101,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Metis Global Partners LLC increased its position in shares of Macerich by 31.1% during the third quarter. Metis Global Partners LLC now owns 22,242 shares of the real estate investment trust’s stock worth $406,000 after acquiring an additional 5,280 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Macerich by 7.7% during the 3rd quarter. Victory Capital Management Inc. now owns 89,058 shares of the real estate investment trust’s stock worth $1,624,000 after purchasing an additional 6,346 shares during the last quarter. Versor Investments LP acquired a new position in shares of Macerich in the 3rd quarter valued at approximately $516,000. Assetmark Inc. boosted its stake in shares of Macerich by 5.6% during the 3rd quarter. Assetmark Inc. now owns 18,404 shares of the real estate investment trust’s stock valued at $336,000 after buying an additional 971 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Macerich by 12.3% during the third quarter. Van ECK Associates Corp now owns 37,235 shares of the real estate investment trust’s stock worth $681,000 after buying an additional 4,086 shares in the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MAC. Bank of America upped their price target on shares of Macerich from $17.00 to $19.00 and gave the company 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. The Goldman Sachs Group lifted their price target on Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a research note on Thursday, September 19th. StockNews.com cut Macerich from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, Compass Point lifted their target price on Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Five research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $16.40.

Macerich Stock Up 3.0 %

Shares of Macerich stock opened at $20.32 on Tuesday. The Macerich Company has a twelve month low of $10.75 and a twelve month high of $20.42. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 52.10, a PEG ratio of 0.67 and a beta of 2.50. 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 business’s 50 day simple moving average is $18.46 and its 200-day simple moving average is $16.41.

Macerich (NYSE:MAC) last issued 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 company had revenue of $220.20 million during the quarter, compared to analyst estimates of $208.54 million. During the same period in the prior year, the business earned $0.44 earnings per share. Macerich’s quarterly revenue was up .9% on a year-over-year basis. Equities research analysts forecast that The Macerich Company will post 1.59 earnings per share for the current year.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Tuesday, November 12th. Macerich’s payout ratio is 174.36%.

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.