Federated Hermes Inc. Lowers Stock Position in The Macerich Company (NYSE:MAC)

Federated Hermes Inc. lowered its position in The Macerich Company (NYSE:MAC) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 863,723 shares of the real estate investment trust’s stock after selling 6,018 shares during the period. Federated Hermes Inc. owned about 0.40% of Macerich worth $13,336,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quest Partners LLC purchased a new stake in shares of Macerich in the fourth quarter valued at about $41,000. Fidelis Capital Partners LLC purchased a new stake in shares of Macerich in the first quarter valued at about $46,000. Entropy Technologies LP purchased a new stake in shares of Macerich in the first quarter valued at about $194,000. Vanguard Personalized Indexing Management LLC raised its holdings in shares of 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 purchasing an additional 1,805 shares during the last quarter. Finally, American Assets Investment Management LLC purchased a new stake in shares of Macerich in the fourth quarter valued at about $282,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Price Performance

Shares of NYSE:MAC opened at $16.63 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $3.59 billion, a PE ratio of -10.66, a P/E/G ratio of 0.53 and a beta of 2.49. The Macerich Company has a twelve month low of $9.21 and a twelve month high of $17.69. The company has a 50-day moving average price of $15.49 and a two-hundred day moving average price of $15.53.

Macerich Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 19th were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.09%. Macerich’s dividend payout ratio (DPR) is currently -43.59%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MAC. Evercore ISI raised their price objective on shares of Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Piper Sandler raised their price objective on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a report on Tuesday, September 3rd. StockNews.com upgraded shares of Macerich from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group decreased their price objective on shares of Macerich from $14.00 to $12.50 and set a “sell” rating for the company in a report on Monday, June 17th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $15.19.

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.