Custom Index Systems LLC Trims Stock Holdings in The Macerich Company (NYSE:MAC)

Custom Index Systems LLC lessened its position in shares of The Macerich Company (NYSE:MAC) by 26.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,702 shares of the real estate investment trust’s stock after selling 3,852 shares during the quarter. Custom Index Systems LLC’s holdings in Macerich were worth $195,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. lifted its stake in Macerich by 7.4% during 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 acquiring an additional 1,333 shares during the period. SeaCrest Wealth Management LLC lifted its position in Macerich by 1.6% during the first quarter. SeaCrest Wealth Management LLC now owns 60,937 shares of the real estate investment trust’s stock valued at $1,050,000 after purchasing an additional 978 shares during the period. Monument Capital Management purchased a new stake in Macerich in the first quarter valued at $406,000. Janney Montgomery Scott LLC grew its position in Macerich by 47.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 33,768 shares of the real estate investment trust’s stock worth $582,000 after purchasing an additional 10,790 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new stake in Macerich during the 1st quarter worth about $46,000. 87.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MAC has been the topic of a number of recent research reports. Evercore ISI upped their target price on Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group boosted their price target on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a report on Thursday, September 19th. StockNews.com raised shares of Macerich from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Bank of America lifted their target price on shares of Macerich from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Finally, Piper Sandler increased their price target on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a report on Tuesday, September 3rd. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $15.84.

Macerich Price Performance

Shares of NYSE MAC opened at $18.10 on Monday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $3.90 billion, a PE ratio of -11.60, a PEG ratio of 0.61 and a beta of 2.50. The Macerich Company has a one year low of $9.21 and a one year high of $18.94. The firm has a fifty day moving average of $16.94 and a 200 day moving average of $15.83.

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.