Renaissance Technologies LLC Grows Stock Holdings in The Macerich Company (NYSE:MAC)

Renaissance Technologies LLC boosted its holdings in shares of The Macerich Company (NYSE:MAC) by 10.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,233,600 shares of the real estate investment trust’s stock after purchasing an additional 116,200 shares during the period. Renaissance Technologies LLC owned about 0.57% of Macerich worth $19,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in Macerich in the fourth quarter valued at approximately $41,000. Fidelis Capital Partners LLC acquired a new position in shares of Macerich in the 1st quarter valued at $46,000. Inspire Advisors LLC acquired a new stake in Macerich during the second quarter valued at $177,000. Entropy Technologies LP acquired a new stake in Macerich during the first quarter valued at $194,000. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in Macerich by 11.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 17,610 shares of the real estate investment trust’s stock valued at $272,000 after buying an additional 1,805 shares in the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Macerich Stock Performance

NYSE:MAC opened at $17.65 on Friday. The Macerich Company has a fifty-two week low of $9.21 and a fifty-two week high of $17.73. 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 50 day moving average price of $15.63 and a 200 day moving average price of $15.55. The stock has a market capitalization of $3.81 billion, a P/E ratio of -11.31, a PEG ratio of 0.53 and a beta of 2.49.

Macerich Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 19th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.85%. The ex-dividend date was Monday, August 19th. Macerich’s dividend payout ratio is currently -43.59%.

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.