HighTower Advisors LLC Has $1.08 Million Holdings in The Macerich Company (NYSE:MAC)

HighTower Advisors LLC cut its position in The Macerich Company (NYSE:MAC) by 29.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,295 shares of the real estate investment trust’s stock after selling 24,436 shares during the quarter. HighTower Advisors LLC’s holdings in Macerich were worth $1,081,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Macerich by 12,475.9% in the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust’s stock valued at $214,738,000 after buying an additional 11,679,276 shares during the last quarter. Bamco Inc. NY raised its stake in Macerich by 742.3% in the 3rd quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust’s stock valued at $30,924,000 after acquiring an additional 1,494,145 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Macerich by 399.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,373 shares of the real estate investment trust’s stock valued at $28,206,000 after acquiring an additional 1,236,983 shares during the period. Smead Capital Management Inc. lifted its holdings in Macerich by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock valued at $372,706,000 after purchasing an additional 688,790 shares during the last quarter. Finally, Sei Investments Co. bought a new position in Macerich during the second quarter worth $10,625,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Macerich Stock Down 1.4 %

MAC stock opened at $21.35 on Wednesday. The firm has a 50-day moving average price of $19.61 and a 200-day moving average price of $17.05. The Macerich Company has a 12 month low of $12.99 and a 12 month high of $22.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $5.31 billion, a P/E ratio of 54.77, a price-to-earnings-growth ratio of 0.74 and a beta of 2.51.

Macerich (NYSE:MAC) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.90). The company had revenue of $220.20 million for the quarter, compared to analyst estimates of $208.54 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company posted $0.44 earnings per share. As a group, equities research analysts anticipate that The Macerich Company will post 1.56 EPS for the current fiscal year.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Tuesday, November 12th. Macerich’s dividend payout ratio (DPR) is currently 174.36%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Macerich in a research report on Tuesday. They issued a “hold” rating and a $22.00 price objective on the stock. Piper Sandler raised their price objective on shares of Macerich from $14.00 to $17.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 11th. StockNews.com cut Macerich from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Scotiabank raised Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price target for the company in a report on Tuesday. Finally, Bank of America boosted their price target on Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $18.86.

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.