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

Victory Capital Management Inc. raised its holdings in The Macerich Company (NYSE:MAC) by 7.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,058 shares of the real estate investment trust’s stock after buying an additional 6,346 shares during the quarter. Victory Capital Management Inc.’s holdings in Macerich were worth $1,624,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Versor Investments LP purchased a new stake in shares of Macerich during the 3rd quarter valued at $516,000. Assetmark Inc. boosted its holdings in Macerich by 5.6% in the third quarter. Assetmark Inc. now owns 18,404 shares of the real estate investment trust’s stock valued at $336,000 after acquiring an additional 971 shares during the last quarter. Van ECK Associates Corp grew its position in 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 valued at $681,000 after acquiring an additional 4,086 shares during the period. Lodestone Wealth Management LLC increased its stake in Macerich by 0.6% during the third quarter. Lodestone Wealth Management LLC now owns 154,082 shares of the real estate investment trust’s stock worth $2,810,000 after acquiring an additional 859 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Macerich by 26.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 47,804 shares of the real estate investment trust’s stock worth $872,000 after purchasing an additional 9,943 shares during the period. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Trading Up 3.0 %

NYSE:MAC opened at $20.32 on Tuesday. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 52.10, a price-to-earnings-growth ratio of 0.67 and a beta of 2.50. The Macerich Company has a one year low of $10.75 and a one year high of $20.42. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. 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 announced its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). The business had revenue of $220.20 million during 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 business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 earnings per share. As a group, sell-side analysts predict that The Macerich Company will post 1.59 earnings per share for the current fiscal year.

Macerich Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MAC. Piper Sandler increased their target price on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 3rd. StockNews.com lowered shares of Macerich from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. The Goldman Sachs Group lifted their target price on shares of Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a report on Thursday, September 19th. Evercore ISI raised their price objective on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Finally, Compass Point upped 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 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. Based on data from MarketBeat.com, Macerich presently has an average rating of “Hold” and an average target price of $16.40.

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.