Victory Capital Management Inc. Buys 1,610 Shares of The Macerich Company (NYSE:MAC)

Victory Capital Management Inc. grew its stake in shares of The Macerich Company (NYSE:MAC) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,712 shares of the real estate investment trust’s stock after buying an additional 1,610 shares during the period. Victory Capital Management Inc.’s holdings in Macerich were worth $1,277,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MAC. Norges Bank bought a new position in Macerich during the fourth quarter worth about $22,210,000. Wellington Management Group LLP bought a new position in Macerich during the fourth quarter worth about $18,938,000. Russell Investments Group Ltd. boosted its holdings in Macerich by 1,845.1% during the first quarter. Russell Investments Group Ltd. now owns 1,168,864 shares of the real estate investment trust’s stock worth $20,133,000 after buying an additional 1,108,770 shares during the last quarter. Jessup Wealth Management Inc bought a new position in Macerich during the first quarter worth about $7,222,000. Finally, Commonwealth Equity Services LLC boosted its holdings in Macerich by 3,114.0% during the first quarter. Commonwealth Equity Services LLC now owns 428,936 shares of the real estate investment trust’s stock worth $7,391,000 after buying an additional 415,590 shares during the last quarter. Institutional investors own 87.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MAC. The Goldman Sachs Group raised their target price on Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a report on Thursday. Evercore ISI raised their price target on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. StockNews.com raised Macerich from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Piper Sandler raised their price target on Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 3rd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $15.45.

Macerich Trading Up 3.0 %

NYSE MAC opened at $17.26 on Friday. The stock’s 50-day moving average is $15.59 and its 200-day moving average is $15.54. The Macerich Company has a one year low of $9.21 and a one year high of $17.69. The firm has a market cap of $3.72 billion, a P/E ratio of -11.07, a P/E/G ratio of 0.53 and a beta of 2.49. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.86 and a quick ratio of 0.86.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 19th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was Monday, August 19th. Macerich’s dividend payout ratio is presently -43.59%.

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.