Vert Asset Management LLC Boosts Position in The Macerich Company (NYSE:MAC)

Vert Asset Management LLC grew its holdings in The Macerich Company (NYSE:MAC) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,258 shares of the real estate investment trust’s stock after acquiring an additional 1,426 shares during the period. Vert Asset Management LLC’s holdings in Macerich were worth $1,592,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Harbour Capital Advisors LLC acquired a new stake in Macerich during the 3rd quarter worth about $256,000. Leisure Capital Management lifted its holdings in shares of Macerich by 48.7% in the 3rd quarter. Leisure Capital Management now owns 54,969 shares of the real estate investment trust’s stock valued at $1,003,000 after buying an additional 18,000 shares during the period. Creative Planning boosted its stake in shares of Macerich by 5.1% in the third quarter. Creative Planning now owns 318,650 shares of the real estate investment trust’s stock worth $5,812,000 after buying an additional 15,520 shares during the last quarter. GAMMA Investing LLC grew its holdings in Macerich by 40.9% during the third quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 933 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Macerich during the third quarter valued at approximately $4,797,000. Institutional investors and hedge funds own 87.38% of the company’s stock.

Wall Street Analyst Weigh In

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

Macerich Stock Up 0.9 %

MAC stock opened at $18.89 on Friday. The Macerich Company has a 52 week low of $9.21 and a 52 week high of $18.94. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.76. The firm has a 50-day simple moving average of $16.58 and a 200-day simple moving average of $15.76. The stock has a market capitalization of $4.07 billion, a P/E ratio of -12.11, a P/E/G ratio of 0.60 and a beta of 2.50.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Shareholders 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 yield of 3.60%. Macerich’s dividend payout ratio (DPR) 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.