Sanctuary Advisors LLC Buys Shares of 18,345 The Macerich Company (NYSE:MAC)

Sanctuary Advisors LLC purchased a new stake in shares of The Macerich Company (NYSE:MAC) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 18,345 shares of the real estate investment trust’s stock, valued at approximately $287,000.

A number of other large investors have also recently made changes to their positions in MAC. Fidelis Capital Partners LLC purchased a new stake in Macerich in the first quarter worth approximately $46,000. Quest Partners LLC bought a new position in shares of Macerich during the 2nd quarter valued at $50,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Macerich in the 2nd quarter worth $129,000. Inspire Advisors LLC purchased a new position in shares of Macerich in the 2nd quarter worth $177,000. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of Macerich by 10.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 11,500 shares of the real estate investment trust’s stock worth $178,000 after acquiring an additional 1,132 shares during the period. 87.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Piper Sandler increased their target price on Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a report on Tuesday, September 3rd. The Goldman Sachs Group increased their price objective on shares of Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a research note on Thursday, September 19th. Bank of America boosted their target price 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. StockNews.com upgraded shares of Macerich from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, 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 research note on Wednesday, August 28th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Macerich currently has a consensus rating of “Hold” and a consensus target price of $15.84.

Macerich Stock Performance

MAC opened at $18.89 on Friday. The company has a 50 day simple moving average of $16.58 and a two-hundred day simple moving average of $15.76. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $4.07 billion, a P/E ratio of -12.11, a PEG ratio of 0.60 and a beta of 2.50. The Macerich Company has a 1-year low of $9.21 and a 1-year high of $18.94.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 19th were paid a $0.17 dividend. The ex-dividend date was Monday, August 19th. This represents a $0.68 dividend on an annualized basis and a yield of 3.60%. Macerich’s payout ratio is presently -43.59%.

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.