Wolverine Asset Management LLC Has $1.09 Million Stock Holdings in The Macerich Company (NYSE:MAC)

Wolverine Asset Management LLC cut its position in The Macerich Company (NYSE:MAC) by 48.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,859 shares of the real estate investment trust’s stock after selling 56,827 shares during the period. Wolverine Asset Management LLC’s holdings in Macerich were worth $1,092,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Macerich by 0.6% during the first quarter. Vanguard Group Inc. now owns 34,672,065 shares of the real estate investment trust’s stock worth $597,400,000 after acquiring an additional 193,787 shares in the last quarter. Dimensional Fund Advisors LP increased its position 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 worth $49,675,000 after acquiring an additional 126,192 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Macerich by 10.4% during the second quarter. Renaissance Technologies LLC now owns 1,233,600 shares of the real estate investment trust’s stock worth $19,047,000 after acquiring an additional 116,200 shares in the last quarter. Russell Investments Group Ltd. increased 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 acquiring an additional 1,108,770 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Macerich by 153.0% during the second quarter. Millennium Management LLC now owns 791,903 shares of the real estate investment trust’s stock worth $12,227,000 after acquiring an additional 478,930 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Macerich Stock Performance

NYSE MAC opened at $19.38 on Wednesday. The firm has a 50-day moving average of $17.79 and a 200-day moving average of $16.11. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.86 and a current ratio of 0.92. The stock has a market cap of $4.19 billion, a PE ratio of 49.69, a P/E/G ratio of 0.65 and a beta of 2.50. The Macerich Company has a 52-week low of $10.00 and a 52-week high of $20.40.

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

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.51%. The ex-dividend date is Tuesday, November 12th. Macerich’s dividend payout ratio (DPR) is 174.36%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MAC shares. StockNews.com downgraded shares of Macerich from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. The Goldman Sachs Group raised their target price on shares of Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research report on Thursday, September 19th. Compass Point raised their target price on shares of Macerich from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Bank of America raised their target price on shares of Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Finally, Piper Sandler raised their target price on shares of Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a research report on Tuesday, September 3rd. 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $16.40.

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.