Point72 Asia Singapore Pte. Ltd. Makes New Investment in The Macerich Company (NYSE:MAC)

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of The Macerich Company (NYSE:MAC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,366 shares of the real estate investment trust’s stock, valued at approximately $129,000.

Other institutional investors have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale lifted its position in Macerich by 158.1% during the first quarter. DekaBank Deutsche Girozentrale now owns 131,487 shares of the real estate investment trust’s stock valued at $2,201,000 after purchasing an additional 80,541 shares during the period. Murphy Pohlad Asset Management LLC boosted its stake in shares of Macerich by 297.7% in the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 110,560 shares of the real estate investment trust’s stock worth $1,707,000 after buying an additional 82,760 shares during the last quarter. Jessup Wealth Management Inc bought a new stake in shares of Macerich in the first quarter worth $7,222,000. Vanguard Group Inc. increased its position in Macerich by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 34,478,278 shares of the real estate investment trust’s stock valued at $532,000,000 after acquiring an additional 336,251 shares during the last quarter. Finally, UniSuper Management Pty Ltd lifted its holdings in Macerich by 82.6% in the first quarter. UniSuper Management Pty Ltd now owns 112,724 shares of the real estate investment trust’s stock valued at $1,942,000 after acquiring an additional 50,989 shares during the period. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Analysts Set New Price Targets

MAC has been the subject of several research reports. Piper Sandler upped their price target on shares of Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a research report on Tuesday, September 3rd. StockNews.com raised shares of Macerich from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. The Goldman Sachs Group lifted their price target 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. Finally, 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 note on Wednesday, August 28th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $15.45.

Macerich Stock Down 1.4 %

Shares of MAC stock opened at $17.43 on Friday. 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 Macerich Company has a one year low of $9.21 and a one year high of $18.33. The company’s fifty day moving average price is $15.93 and its 200-day moving average price is $15.65. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of -11.17, a PEG ratio of 0.58 and a beta of 2.49.

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 issued a dividend of $0.17 per share. The ex-dividend date was Monday, August 19th. This represents a $0.68 dividend on an annualized basis and a yield of 3.90%. Macerich’s dividend payout ratio is presently -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.