Swiss National Bank Has $7.68 Million Stock Position in The Macerich Company (NYSE:MAC)

Swiss National Bank trimmed its position in The Macerich Company (NYSE:MAC) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 421,115 shares of the real estate investment trust’s stock after selling 4,300 shares during the quarter. Swiss National Bank owned approximately 0.19% of Macerich worth $7,681,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MAC. Sei Investments Co. acquired a new position in shares of Macerich in the second quarter worth about $10,625,000. Millennium Management LLC boosted its holdings 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 purchasing an additional 478,930 shares during the period. Candriam S.C.A. boosted its holdings in shares of Macerich by 138.2% during the second quarter. Candriam S.C.A. now owns 528,252 shares of the real estate investment trust’s stock worth $8,156,000 after purchasing an additional 306,509 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Macerich during the third quarter worth approximately $4,797,000. Finally, International Assets Investment Management LLC boosted its holdings in shares of Macerich by 1,298.4% during the third quarter. International Assets Investment Management LLC now owns 260,598 shares of the real estate investment trust’s stock worth $4,753,000 after purchasing an additional 241,963 shares during the period. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. The Goldman Sachs Group raised their price target on shares of Macerich from $13.00 to $14.60 and gave the stock a “sell” rating in a report on Thursday, September 19th. Evercore ISI raised their price target on shares of Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. StockNews.com cut shares of Macerich from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Compass Point raised their price objective 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. Finally, Piper Sandler raised their price objective 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $16.40.

Macerich Trading Up 3.0 %

NYSE:MAC opened at $20.32 on Tuesday. The Macerich Company has a 12 month low of $10.75 and a 12 month high of $20.42. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 52.10, 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. The company’s 50 day moving average is $18.46 and its 200-day moving average is $16.41.

Macerich (NYSE:MAC) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.90). Macerich had a net margin of 8.98% and a return on equity of 3.15%. The firm had revenue of $220.20 million during the quarter, compared to the consensus estimate of $208.54 million. During the same period in the prior year, the business earned $0.44 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts anticipate that The Macerich Company will post 1.59 EPS for the current year.

Macerich Dividend Announcement

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 $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Tuesday, November 12th. Macerich’s dividend payout ratio is 174.36%.

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.