Cerity Partners LLC Acquires 5,642 Shares of The Macerich Company (NYSE:MAC)

Cerity Partners LLC grew its holdings in shares of The Macerich Company (NYSE:MAC) by 21.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,368 shares of the real estate investment trust’s stock after buying an additional 5,642 shares during the period. Cerity Partners LLC’s holdings in Macerich were worth $572,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MAC. Vanderbilt University lifted its position in Macerich by 121.5% during the second quarter. Vanderbilt University now owns 80,095 shares of the real estate investment trust’s stock valued at $1,237,000 after buying an additional 43,942 shares during the period. Murphy Pohlad Asset Management LLC grew its holdings in Macerich by 297.7% in the second quarter. Murphy Pohlad Asset Management LLC now owns 110,560 shares of the real estate investment trust’s stock worth $1,707,000 after purchasing an additional 82,760 shares during the period. Louisiana State Employees Retirement System grew its holdings in Macerich by 1.4% in the second quarter. Louisiana State Employees Retirement System now owns 108,500 shares of the real estate investment trust’s stock worth $1,675,000 after purchasing an additional 1,500 shares during the period. Bailard Inc. purchased a new position in shares of Macerich during the second quarter valued at approximately $468,000. Finally, Leisure Capital Management bought a new stake in shares of Macerich in the 2nd quarter worth approximately $571,000. Institutional investors own 87.38% of the company’s stock.

Macerich Stock Up 1.1 %

MAC stock opened at $22.11 on Friday. The company has a market capitalization of $5.49 billion, a P/E ratio of 56.69, a price-to-earnings-growth ratio of 0.74 and a beta of 2.51. The Macerich Company has a 12 month low of $12.66 and a 12 month high of $22.21. The firm’s fifty day simple moving average is $19.17 and its 200-day simple moving average is $16.76. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92.

Macerich (NYSE:MAC) last posted 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). The firm had revenue of $220.20 million for the quarter, compared to analysts’ expectations of $208.54 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. Macerich’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm earned $0.44 earnings per share. As a group, equities research analysts forecast that The Macerich Company will post 1.58 earnings per share for the current year.

Macerich Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Tuesday, November 12th. Macerich’s dividend payout ratio (DPR) is presently 174.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Mizuho upgraded Macerich from an “underperform” rating to a “neutral” rating and raised their price target for the company from $14.00 to $22.00 in a report on Wednesday. Compass Point raised their price objective on shares of Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Piper Sandler upped their target price on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research note on Tuesday, September 3rd. Bank of America raised their price target on shares of Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Finally, The Goldman Sachs Group upped their price objective on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research report on Thursday, September 19th. Four 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $17.29.

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.