The Macerich Company (NYSE:MAC) Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC grew its stake in The Macerich Company (NYSE:MAC) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 owned approximately 1.39% of Macerich worth $54,642,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MAC. Blue Trust Inc. boosted its holdings in Macerich by 152.2% in the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 933 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Macerich in the second quarter worth approximately $50,000. GAMMA Investing LLC increased its position in shares of Macerich by 40.9% during the third quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 933 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Macerich during the second quarter worth approximately $129,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Macerich by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 2,161 shares during the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Wall Street Analysts Forecast Growth

MAC has been the subject of a number of research reports. Bank of America upped their target price on shares of Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. 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 research note on Tuesday, September 3rd. The Goldman Sachs Group increased their price objective on shares of Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a report on Thursday, September 19th. Evercore ISI boosted their target price on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. Finally, StockNews.com cut Macerich from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $16.40.

Macerich Price Performance

NYSE:MAC opened at $20.94 on Wednesday. The Macerich Company has a 52 week low of $10.75 and a 52 week high of $21.40. The stock’s fifty day moving average is $18.46 and its two-hundred day moving average is $16.41. The company has a market capitalization of $4.72 billion, a P/E ratio of 53.69, a P/E/G ratio of 0.67 and a beta of 2.50. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich (NYSE:MAC) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share (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 analysts’ expectations of $208.54 million. Macerich had a net margin of 8.98% and a return on equity of 3.15%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 earnings per share. Equities analysts expect that The Macerich Company will post 1.59 EPS for the current year.

Macerich Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.17 per share. The ex-dividend date 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 currently 174.36%.

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.