Vert Asset Management LLC Grows Position in The Macerich Company (NYSE:MAC)

Vert Asset Management LLC grew its holdings in The Macerich Company (NYSE:MAC) by 1.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 87,258 shares of the real estate investment trust’s stock after buying an additional 1,426 shares during the quarter. Vert Asset Management LLC’s holdings in Macerich were worth $1,592,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP purchased a new position in Macerich in the 4th quarter worth approximately $18,938,000. Vanguard Group Inc. boosted its stake in Macerich by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 34,478,278 shares of the real estate investment trust’s stock worth $532,000,000 after buying an additional 336,251 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Macerich by 7.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 19,322 shares of the real estate investment trust’s stock valued at $298,000 after buying an additional 1,333 shares in the last quarter. Jessup Wealth Management Inc acquired a new stake in shares of Macerich in the 1st quarter worth $7,222,000. Finally, Harbour Capital Advisors LLC acquired a new stake in shares of Macerich in the 1st quarter worth $577,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Macerich Trading Up 0.9 %

MAC opened at $18.89 on Friday. The business has a fifty day simple moving average of $16.58 and a 200-day simple moving average of $15.76. The Macerich Company has a 52 week low of $9.21 and a 52 week high of $18.94. The firm has a market cap of $4.07 billion, a P/E ratio of -12.11, a P/E/G ratio of 0.60 and a beta of 2.50. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.76.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 19th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.68 dividend on an annualized basis and a yield of 3.60%. Macerich’s dividend payout ratio (DPR) is presently -43.59%.

Analysts Set New Price Targets

MAC has been the subject of a number of analyst reports. 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 report on Tuesday, September 3rd. The Goldman Sachs Group increased their price target on shares of Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a research note on Thursday, September 19th. StockNews.com raised shares of Macerich from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Evercore ISI increased their price objective on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Finally, Bank of America raised their target price on Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Macerich presently has an average rating of “Hold” and a consensus 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.