Quest Partners LLC Makes New $50,000 Investment in The Macerich Company (NYSE:MAC)

Quest Partners LLC acquired a new position in shares of The Macerich Company (NYSE:MAC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,207 shares of the real estate investment trust’s stock, valued at approximately $50,000.

Other hedge funds have also modified their holdings of the company. Fidelis Capital Partners LLC acquired a new stake in Macerich during the 1st quarter valued at $46,000. Entropy Technologies LP acquired a new stake in shares of Macerich during the first quarter valued at $194,000. Vanguard Personalized Indexing Management LLC increased its position in Macerich by 11.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 17,610 shares of the real estate investment trust’s stock worth $272,000 after purchasing an additional 1,805 shares in the last quarter. United Services Automobile Association acquired a new position in Macerich in the 4th quarter valued at about $282,000. Finally, American Assets Investment Management LLC purchased a new position in Macerich in the 4th quarter valued at about $282,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Evercore ISI lifted their price target 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. The Goldman Sachs Group cut their price target on Macerich from $14.00 to $12.50 and set a “sell” rating for the company in a report on Monday, June 17th. StockNews.com upgraded Macerich from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Piper Sandler upped 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. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.19.

Macerich Trading Up 1.1 %

Shares of MAC opened at $16.77 on Thursday. The Macerich Company has a twelve month low of $9.21 and a twelve month high of $17.69. The firm has a market capitalization of $3.62 billion, a P/E ratio of -10.74, a price-to-earnings-growth ratio of 0.53 and a beta of 2.49. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.76. The stock’s fifty day simple moving average is $15.56 and its 200 day simple moving average is $15.53.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 19th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Monday, August 19th. Macerich’s dividend payout ratio is currently -43.59%.

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.