The Macerich Company (NYSE:MAC) Stake Trimmed by Koss Olinger Consulting LLC

Koss Olinger Consulting LLC lowered its stake in The Macerich Company (NYSE:MAC) by 6.2% during the third quarter, HoldingsChannel reports. The firm owned 74,843 shares of the real estate investment trust’s stock after selling 4,948 shares during the period. Koss Olinger Consulting LLC’s holdings in Macerich were worth $1,365,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale boosted its position 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 acquiring an additional 80,541 shares during the period. Murphy Pohlad Asset Management LLC boosted its position in Macerich by 297.7% during the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 110,560 shares of the real estate investment trust’s stock worth $1,707,000 after acquiring an additional 82,760 shares during the period. Jessup Wealth Management Inc acquired a new stake in Macerich during the 1st quarter worth about $7,222,000. Vanguard Group Inc. boosted its position in Macerich by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 34,478,278 shares of the real estate investment trust’s stock worth $532,000,000 after acquiring an additional 336,251 shares during the period. Finally, UniSuper Management Pty Ltd boosted its position in Macerich by 82.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 112,724 shares of the real estate investment trust’s stock worth $1,942,000 after acquiring an additional 50,989 shares during the period. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Macerich Stock Up 0.9 %

MAC opened at $18.89 on Monday. The business has a 50 day moving average price of $16.58 and a 200 day moving average price of $15.76. The Macerich Company has a twelve month low of $9.21 and a twelve month high of $18.94. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $4.07 billion, a P/E ratio of -12.11, a price-to-earnings-growth ratio of 0.60 and a beta of 2.50.

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 19th were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.68 annualized dividend and a yield of 3.60%. Macerich’s dividend payout ratio (DPR) is currently -43.59%.

Analyst Ratings Changes

A number of equities research analysts have commented on MAC shares. Bank of America raised their price objective on Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Evercore ISI lifted their price target on 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 lifted their price target on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a report on Thursday, September 19th. Piper Sandler lifted their price target on Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a report on Tuesday, September 3rd. Finally, StockNews.com upgraded Macerich from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $15.84.

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.