GAMMA Investing LLC Raises Stake in The Macerich Company (NYSE:MAC)

GAMMA Investing LLC boosted its holdings in The Macerich Company (NYSE:MAC) by 40.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,214 shares of the real estate investment trust’s stock after buying an additional 933 shares during the period. GAMMA Investing LLC’s holdings in Macerich were worth $59,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. SeaCrest Wealth Management LLC lifted its holdings in shares of Macerich by 1.6% during the 1st quarter. SeaCrest Wealth Management LLC now owns 60,937 shares of the real estate investment trust’s stock valued at $1,050,000 after acquiring an additional 978 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Macerich by 10.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 11,500 shares of the real estate investment trust’s stock valued at $178,000 after buying an additional 1,132 shares during the period. Arizona State Retirement System boosted its holdings in Macerich by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 60,391 shares of the real estate investment trust’s stock worth $932,000 after acquiring an additional 1,181 shares during the period. Swiss National Bank grew its holdings in Macerich by 0.3% during the 1st quarter. Swiss National Bank now owns 425,415 shares of the real estate investment trust’s stock valued at $7,330,000 after purchasing an additional 1,200 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Macerich by 7.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 19,322 shares of the real estate investment trust’s stock worth $298,000 after acquiring an additional 1,333 shares during the last quarter. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Macerich Stock Performance

MAC opened at $18.93 on Thursday. The business has a 50 day moving average price of $16.43 and a two-hundred day moving average price of $15.73. The Macerich Company has a 1-year low of $9.21 and a 1-year high of $18.94. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of -12.13, a price-to-earnings-growth ratio of 0.60 and a beta of 2.50. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.86 and a quick ratio of 0.86.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 19th were given 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 3.59%. Macerich’s dividend payout ratio (DPR) is -43.59%.

Wall Street Analysts Forecast Growth

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

About Macerich

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.