Lodestone Wealth Management LLC Buys 859 Shares of The Macerich Company (NYSE:MAC)

Lodestone Wealth Management LLC boosted its stake in The Macerich Company (NYSE:MAC) by 0.6% during the third quarter, HoldingsChannel reports. The firm owned 154,082 shares of the real estate investment trust’s stock after buying an additional 859 shares during the period. Macerich comprises about 1.4% of Lodestone Wealth Management LLC’s portfolio, making the stock its 26th biggest holding. Lodestone Wealth Management LLC’s holdings in Macerich were worth $2,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. raised its position in shares of Macerich by 1,845.1% during the 1st quarter. Russell Investments Group Ltd. now owns 1,168,864 shares of the real estate investment trust’s stock valued at $20,133,000 after buying an additional 1,108,770 shares in the last quarter. Sei Investments Co. purchased a new stake in Macerich during the second quarter valued at about $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 purchasing an additional 478,930 shares in the last quarter. Candriam S.C.A. lifted its stake in Macerich by 138.2% during the second quarter. Candriam S.C.A. now owns 528,252 shares of the real estate investment trust’s stock worth $8,156,000 after purchasing an additional 306,509 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Macerich in the 3rd quarter worth about $4,797,000. 87.38% of the stock is currently owned by institutional investors.

Macerich Price Performance

MAC opened at $18.32 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $3.96 billion, a PE ratio of -55.51, a price-to-earnings-growth ratio of 0.63 and a beta of 2.49. The stock’s 50 day moving average price is $17.30 and its 200-day moving average price is $15.93. The Macerich Company has a 52-week low of $9.90 and a 52-week high of $19.09.

Macerich Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a $0.17 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.68 annualized dividend and a yield of 3.71%. Macerich’s dividend payout ratio (DPR) is presently -206.05%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MAC. Evercore ISI raised their price objective on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. StockNews.com raised shares of Macerich from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Bank of America boosted their price objective on shares of Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. The Goldman Sachs Group increased their target price on shares of Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a report on Thursday, September 19th. Finally, Piper Sandler boosted their price target 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. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.84.

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.