Leisure Capital Management Has $1 Million Stock Holdings in The Macerich Company (NYSE:MAC)

Leisure Capital Management lifted its stake in shares of The Macerich Company (NYSE:MAC) by 48.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,969 shares of the real estate investment trust’s stock after purchasing an additional 18,000 shares during the period. Leisure Capital Management’s holdings in Macerich were worth $1,003,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MAC. Wellington Management Group LLP acquired a new stake in shares of Macerich during the fourth quarter worth $18,938,000. Russell Investments Group Ltd. raised 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 purchasing an additional 1,108,770 shares during the period. Sei Investments Co. acquired a new stake in shares of Macerich during the second quarter worth $10,625,000. Millennium Management LLC raised its position in Macerich by 153.0% during the second quarter. Millennium Management LLC now owns 791,903 shares of the real estate investment trust’s stock valued at $12,227,000 after buying an additional 478,930 shares during the period. Finally, Jessup Wealth Management Inc acquired a new position in Macerich during the first quarter valued at $7,222,000. 87.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. The Goldman Sachs Group upped their price target on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research report on Thursday, September 19th. Evercore ISI upped their price target on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Bank of America upped their price target on Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. StockNews.com raised Macerich from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Piper Sandler upped their target price on Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $15.84.

Macerich Stock Up 0.8 %

MAC stock traded up $0.15 during mid-day trading on Wednesday, hitting $18.51. The stock had a trading volume of 98,098 shares, compared to its average volume of 1,791,111. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of -11.93, a PEG ratio of 0.60 and a beta of 2.50. The company has a fifty day moving average of $16.35 and a 200 day moving average of $15.70. The Macerich Company has a 1-year low of $9.21 and a 1-year high of $18.73. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.76.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 19th were paid a dividend of $0.17 per share. The ex-dividend date was Monday, August 19th. This represents a $0.68 annualized dividend and a dividend yield of 3.67%. Macerich’s dividend payout ratio (DPR) 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.