The Macerich Company (NYSE:MAC) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its stake in The Macerich Company (NYSE:MAC) by 5.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 169,999 shares of the real estate investment trust’s stock after selling 9,488 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.08% of Macerich worth $3,101,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Sei Investments Co. acquired a new position in Macerich in the 2nd quarter valued at about $10,625,000. Millennium Management LLC raised its position in shares of Macerich by 153.0% in the second quarter. Millennium Management LLC now owns 791,903 shares of the real estate investment trust’s stock valued at $12,227,000 after buying an additional 478,930 shares during the last quarter. Candriam S.C.A. lifted its stake 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 valued at $8,156,000 after buying an additional 306,509 shares during the period. SG Americas Securities LLC acquired a new stake in Macerich during the third quarter worth approximately $4,797,000. Finally, International Assets Investment Management LLC boosted its position in 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 acquiring an additional 241,963 shares during the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MAC shares. Compass Point increased their price target on Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Bank of America raised their price target on Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. StockNews.com downgraded shares of Macerich from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Evercore ISI raised their target price on shares of Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Finally, Piper Sandler boosted their target price on shares of Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a report on Tuesday, September 3rd. Five investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus 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 company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The Macerich Company has a one year low of $10.75 and a one year high of $20.42. The company’s 50 day moving average price is $18.46 and its 200 day moving average price is $16.41. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 52.10, a PEG ratio of 0.67 and a beta of 2.50.

Macerich (NYSE:MAC) last issued its 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 business had revenue of $220.20 million during the quarter, compared to analysts’ expectations of $208.54 million. During the same period in the prior year, the business posted $0.44 EPS. The business’s revenue was up .9% on a year-over-year basis. On average, sell-side analysts predict that The Macerich Company will post 1.59 EPS for the current year.

Macerich Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.35%. Macerich’s dividend payout ratio (DPR) is currently 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.