The Macerich Company (NYSE:MAC) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC decreased its stake in shares of The Macerich Company (NYSE:MAC) by 9.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,520 shares of the real estate investment trust’s stock after selling 10,056 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Macerich were worth $1,833,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MAC. Blue Trust Inc. grew its holdings in shares of Macerich by 152.2% during the third quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 933 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in Macerich during the 1st quarter worth about $46,000. Quest Partners LLC purchased a new stake in Macerich during the 2nd quarter valued at about $50,000. GAMMA Investing LLC grew its stake in Macerich by 40.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 933 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Macerich in the second quarter worth about $129,000. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Stock Performance

Shares of MAC stock opened at $18.32 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.76. The Macerich Company has a 12-month low of $9.90 and a 12-month high of $19.09. The business’s 50 day moving average is $17.30 and its two-hundred day moving average is $15.92. The company has a market capitalization of $3.96 billion, a P/E ratio of -55.51, a P/E/G ratio of 0.63 and a beta of 2.49.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.68 dividend on an annualized basis and a yield of 3.71%. Macerich’s dividend payout ratio is currently -206.05%.

Analysts Set New Price Targets

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