Plancorp LLC Buys 14,004 Shares of The Macerich Company (NYSE:MAC)

Plancorp LLC boosted its stake in The Macerich Company (NYSE:MAC) by 34.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,849 shares of the real estate investment trust’s stock after buying an additional 14,004 shares during the period. Plancorp LLC’s holdings in Macerich were worth $847,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Renaissance Technologies LLC lifted its position in Macerich by 10.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,233,600 shares of the real estate investment trust’s stock valued at $19,047,000 after acquiring an additional 116,200 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Macerich by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,217,373 shares of the real estate investment trust’s stock valued at $49,675,000 after purchasing an additional 126,192 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in shares of Macerich by 69.6% during the second quarter. WINTON GROUP Ltd now owns 406,766 shares of the real estate investment trust’s stock valued at $6,280,000 after purchasing an additional 166,857 shares during the last quarter. Inspire Advisors LLC bought a new stake in shares of Macerich in the 2nd quarter worth approximately $177,000. Finally, Y.D. More Investments Ltd grew its stake in shares of Macerich by 11.6% in the 2nd quarter. Y.D. More Investments Ltd now owns 72,080 shares of the real estate investment trust’s stock worth $1,113,000 after buying an additional 7,500 shares during the last quarter. 87.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MAC has been the subject of several recent analyst reports. Piper Sandler lifted their price target on Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 3rd. Evercore ISI upped their target price 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. StockNews.com raised shares of Macerich from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group decreased their price objective on shares of Macerich from $14.00 to $12.50 and set a “sell” rating for the company in a report on Monday, June 17th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.19.

Macerich Stock Up 0.8 %

MAC stock opened at $16.63 on Tuesday. The business’s 50-day moving average is $15.49 and its two-hundred day moving average is $15.53. The company has a market cap of $3.59 billion, a price-to-earnings ratio of -10.66, a P/E/G ratio of 0.53 and a beta of 2.49. The Macerich Company has a fifty-two week low of $9.21 and a fifty-two week high of $17.69. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.86 and a current ratio of 0.86.

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 19th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Monday, August 19th. Macerich’s payout ratio is -43.59%.

Macerich Company 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.