American Assets Capital Advisers LLC Lowers Holdings in The Macerich Company (NYSE:MAC)

American Assets Capital Advisers LLC decreased its stake in shares of The Macerich Company (NYSE:MAC) by 59.4% in the third quarter, Holdings Channel.com reports. The fund owned 326,754 shares of the real estate investment trust’s stock after selling 477,377 shares during the period. Macerich comprises about 1.8% of American Assets Capital Advisers LLC’s holdings, making the stock its 21st biggest position. American Assets Capital Advisers LLC’s holdings in Macerich were worth $5,960,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale increased its holdings in shares of Macerich by 158.1% in 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 during the last quarter. Murphy Pohlad Asset Management LLC grew its stake in shares of Macerich by 297.7% during 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 buying an additional 82,760 shares during the last quarter. UniSuper Management Pty Ltd raised its holdings in shares of 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 worth $1,942,000 after buying an additional 50,989 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Macerich by 1,845.1% during the first quarter. Russell Investments Group Ltd. now owns 1,168,864 shares of the real estate investment trust’s stock worth $20,133,000 after purchasing an additional 1,108,770 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in Macerich during the 2nd quarter valued at about $10,625,000. Institutional investors own 87.38% of the company’s stock.

Macerich Price Performance

NYSE MAC traded down $0.30 during trading hours on Tuesday, hitting $19.81. 325,202 shares of the company’s stock traded hands, compared to its average volume of 1,766,511. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.86. The firm’s 50-day moving average is $17.70 and its 200-day moving average is $16.08. The Macerich Company has a 52-week low of $10.00 and a 52-week high of $20.40. The company has a market capitalization of $4.28 billion, a PE ratio of 51.62, a PEG ratio of 0.65 and a beta of 2.50.

Macerich (NYSE:MAC) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing the consensus estimate of $0.40 by ($0.90). The company had revenue of $220.20 million during the quarter, compared to analyst estimates of $208.54 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. Macerich’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 EPS. Equities analysts forecast that The Macerich Company will post 1.61 EPS for the current fiscal year.

Macerich Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.68 annualized dividend and a dividend yield of 3.43%. Macerich’s payout ratio is 174.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Compass Point increased their price target on Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group upped their price target on Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a research report on Thursday, September 19th. Evercore ISI lifted 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. 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. Finally, StockNews.com downgraded shares of Macerich from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Five analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $16.40.

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.