The Macerich Company (NYSE:MAC) Shares Bought by Algert Global LLC

Algert Global LLC lifted its stake in shares of The Macerich Company (NYSE:MAC) by 35.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 158,841 shares of the real estate investment trust’s stock after purchasing an additional 41,141 shares during the quarter. Algert Global LLC owned about 0.07% of Macerich worth $2,453,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in MAC. Wellington Management Group LLP bought a new position in Macerich during the 4th quarter worth $18,938,000. Russell Investments Group Ltd. grew its position in shares of Macerich by 1,845.1% during the first quarter. Russell Investments Group Ltd. now owns 1,168,864 shares of the real estate investment trust’s stock worth $20,133,000 after acquiring an additional 1,108,770 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of Macerich in the 2nd quarter worth about $10,625,000. Millennium Management LLC increased its holdings in shares of Macerich by 153.0% in the 2nd quarter. Millennium Management LLC now owns 791,903 shares of the real estate investment trust’s stock worth $12,227,000 after acquiring an additional 478,930 shares during the period. Finally, Jessup Wealth Management Inc bought a new stake in Macerich in the 1st quarter valued at about $7,222,000. Institutional investors own 87.38% of the company’s stock.

Macerich Stock Performance

Shares of NYSE MAC opened at $17.91 on Wednesday. The Macerich Company has a 1 year low of $9.21 and a 1 year high of $18.33. The firm has a market cap of $3.86 billion, a P/E ratio of -11.48, a PEG ratio of 0.58 and a beta of 2.49. The stock has a fifty day moving average price of $15.87 and a two-hundred day moving average price of $15.62. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.86 and a current ratio of 0.86.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 19th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.68 annualized dividend and a yield of 3.80%. Macerich’s dividend payout ratio is currently -43.59%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MAC shares. StockNews.com upgraded shares of Macerich from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. The Goldman Sachs Group raised their target price on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research report on Thursday, September 19th. Piper Sandler lifted 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. Finally, Evercore ISI increased their price target on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.45.

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.