Fisher Asset Management LLC Increases Stock Holdings in The Macerich Company (NYSE:MAC)

Fisher Asset Management LLC lifted its holdings in shares of The Macerich Company (NYSE:MAC) by 1.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,995,741 shares of the real estate investment trust’s stock after purchasing an additional 31,586 shares during the quarter. Fisher Asset Management LLC’s holdings in Macerich were worth $54,642,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. DekaBank Deutsche Girozentrale lifted its holdings in Macerich by 158.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 131,487 shares of the real estate investment trust’s stock worth $2,201,000 after buying an additional 80,541 shares in the last quarter. Murphy Pohlad Asset Management LLC raised its stake in shares of Macerich by 297.7% in the second quarter. Murphy Pohlad Asset Management LLC now owns 110,560 shares of the real estate investment trust’s stock valued at $1,707,000 after acquiring an additional 82,760 shares in the last quarter. Quest Partners LLC grew its stake in Macerich by 851.9% during the 3rd quarter. Quest Partners LLC now owns 30,529 shares of the real estate investment trust’s stock worth $557,000 after purchasing an additional 27,322 shares in the last quarter. Sei Investments Co. purchased a new stake in Macerich during the 2nd quarter worth about $10,625,000. Finally, Smead Capital Management Inc. raised its position in Macerich by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust’s stock valued at $372,706,000 after purchasing an additional 688,790 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on MAC shares. Compass Point upped their target price on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Evercore ISI raised their price objective on shares of Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a report 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 stock a “sell” rating in a research note on Thursday, September 19th. StockNews.com cut Macerich from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, Piper Sandler increased their price objective on Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a report on Tuesday, September 3rd. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $16.40.

Macerich Stock Up 3.1 %

Shares of NYSE MAC opened at $20.94 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a 52-week low of $10.75 and a 52-week high of $21.40. The business has a 50-day moving average price of $18.46 and a 200 day moving average price of $16.41. The stock has a market cap of $4.72 billion, a PE ratio of 53.69, a price-to-earnings-growth ratio of 0.67 and a beta of 2.50.

Macerich (NYSE:MAC) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). Macerich had a net margin of 8.98% and a return on equity of 3.15%. The business had revenue of $220.20 million during the quarter, compared to analyst estimates of $208.54 million. During the same period in the previous year, the firm earned $0.44 earnings per share. The business’s revenue was up .9% compared to the same quarter last year. Equities research analysts forecast that The Macerich Company will post 1.59 earnings per share for the current year.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued 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 dividend yield of 3.25%. Macerich’s payout ratio is 174.36%.

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.