The Macerich Company (NYSE:MAC) Stake Boosted by Blue Trust Inc.

Blue Trust Inc. increased its stake in The Macerich Company (NYSE:MAC) by 152.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,546 shares of the real estate investment trust’s stock after purchasing an additional 933 shares during the quarter. Blue Trust Inc.’s holdings in Macerich were worth $28,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Fidelis Capital Partners LLC purchased a new position in Macerich in the 1st quarter worth about $46,000. Quest Partners LLC purchased a new position in Macerich during the 2nd quarter valued at about $50,000. GAMMA Investing LLC grew its stake in Macerich by 40.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 933 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Macerich during the 2nd quarter valued at about $129,000. Finally, Inspire Advisors LLC purchased a new position in Macerich during the 2nd quarter valued at about $177,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Stock Down 2.0 %

Shares of Macerich stock opened at $18.32 on Friday. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of -55.51, a P/E/G ratio of 0.63 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. The Macerich Company has a 52-week low of $9.90 and a 52-week high of $19.09. The stock has a 50-day simple moving average of $17.30 and a 200-day simple moving average of $15.92.

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.17 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.68 annualized dividend and a yield of 3.71%. Macerich’s dividend payout ratio (DPR) is currently -206.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Evercore ISI lifted their target price on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group lifted their target price on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research note on Thursday, September 19th. Piper Sandler lifted their target price on Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a research note on Tuesday, September 3rd. StockNews.com raised Macerich from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Bank of America lifted their target price on Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Macerich currently has a consensus rating of “Hold” and an average target price of $15.84.

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.