Cambridge Investment Research Advisors Inc. Grows Holdings in The Macerich Company (NYSE:MAC)

Cambridge Investment Research Advisors Inc. boosted its holdings in The Macerich Company (NYSE:MAC) by 6.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,121 shares of the real estate investment trust’s stock after purchasing an additional 1,092 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Macerich were worth $320,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Macerich by 35.0% in the 2nd quarter. Vanguard Group Inc. now owns 25,846,709 shares of the real estate investment trust’s stock valued at $471,702,000 after buying an additional 6,704,782 shares during the period. BlackRock Inc. increased its stake in Macerich by 26.1% in the 2nd quarter. BlackRock Inc. now owns 27,579,299 shares of the real estate investment trust’s stock valued at $503,322,000 after buying an additional 5,702,680 shares during the period. State Street Corp increased its stake in Macerich by 27.1% in the 2nd quarter. State Street Corp now owns 9,089,367 shares of the real estate investment trust’s stock valued at $165,881,000 after buying an additional 1,937,547 shares during the period. Morgan Stanley increased its stake in Macerich by 417.1% in the 2nd quarter. Morgan Stanley now owns 2,400,938 shares of the real estate investment trust’s stock valued at $43,819,000 after buying an additional 1,936,651 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC increased its stake in Macerich by 6,096.5% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 1,199,768 shares of the real estate investment trust’s stock valued at $21,896,000 after buying an additional 1,180,406 shares during the period. Hedge funds and other institutional investors own 79.45% of the company’s stock.

Several equities analysts have issued reports on the stock. Citigroup boosted their price objective on shares of Macerich from $17.00 to $20.00 and gave the company a “sell” rating in a research note on Tuesday, November 23rd. TheStreet raised shares of Macerich from a “d+” rating to a “c” rating in a research note on Wednesday, November 3rd. Truist upped their price target on shares of Macerich from $16.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, December 10th. Piper Sandler raised shares of Macerich from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $13.00 to $23.00 in a research note on Thursday, November 4th. Finally, Truist Securities upped their price target on shares of Macerich from $16.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, December 10th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $20.45.

Shares of NYSE MAC opened at $17.78 on Friday. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of -15.60, a PEG ratio of 4.60 and a beta of 1.92. The Macerich Company has a 52 week low of $11.04 and a 52 week high of $25.99. The company’s 50-day moving average price is $18.76 and its 200 day moving average price is $17.89. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.41.

Macerich (NYSE:MAC) last issued its quarterly earnings data on Wednesday, November 3rd. The real estate investment trust reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.07. The firm had revenue of $212.14 million for the quarter, compared to analysts’ expectations of $200.58 million. Macerich had a negative net margin of 19.58% and a negative return on equity of 5.39%. The firm’s revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 EPS. As a group, research analysts expect that The Macerich Company will post 1.97 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 3rd. Shareholders of record on Tuesday, November 9th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, November 8th. This represents a $0.60 dividend on an annualized basis and a yield of 3.37%. Macerich’s dividend payout ratio (DPR) is -52.63%.

Macerich Company Profile

Macerich Co operates as a real estate investment trust, which engages in the acquisition, ownership, development, redevelopment, management and leasing of regional and community shopping centers located throughout the United States. It conducts all of its operations through the operating partnership and the management companies.

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Institutional Ownership by Quarter for Macerich (NYSE:MAC)

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