Macerich Company (The) $MAC Stock Position Reduced by American Assets Capital Advisers LLC

American Assets Capital Advisers LLC lessened its position in shares of Macerich Company (The) (NYSE:MAC) by 19.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 174,287 shares of the real estate investment trust’s stock after selling 41,557 shares during the quarter. Macerich comprises approximately 3.3% of American Assets Capital Advisers LLC’s portfolio, making the stock its 10th largest position. American Assets Capital Advisers LLC’s holdings in Macerich were worth $3,172,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Macerich by 14.8% in the 3rd quarter. GAMMA Investing LLC now owns 5,371 shares of the real estate investment trust’s stock valued at $98,000 after purchasing an additional 691 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Macerich by 16.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,205 shares of the real estate investment trust’s stock valued at $100,000 after acquiring an additional 858 shares in the last quarter. Archer Investment Corp raised its holdings in shares of Macerich by 25.9% in the 3rd quarter. Archer Investment Corp now owns 7,179 shares of the real estate investment trust’s stock valued at $131,000 after purchasing an additional 1,479 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Macerich in the second quarter valued at $191,000. Finally, Inspire Advisors LLC raised its position in shares of Macerich by 14.4% during the 2nd quarter. Inspire Advisors LLC now owns 11,858 shares of the real estate investment trust’s stock worth $192,000 after acquiring an additional 1,489 shares in the last quarter. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Macerich Stock Down 1.2%

Shares of NYSE:MAC opened at $18.70 on Tuesday. The company has a market capitalization of $4.79 billion, a P/E ratio of -11.76, a P/E/G ratio of 3.68 and a beta of 2.06. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.97. The stock’s fifty day simple moving average is $18.26 and its 200-day simple moving average is $17.74. Macerich Company has a 52-week low of $12.48 and a 52-week high of $21.00.

Macerich (NYSE:MAC) last issued its quarterly earnings results on Tuesday, November 4th. The real estate investment trust reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Macerich had a negative return on equity of 14.21% and a negative net margin of 37.97%.The firm had revenue of $253.26 million for the quarter, compared to analysts’ expectations of $246.77 million. During the same quarter last year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, equities research analysts forecast that Macerich Company will post 1.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $21.00 target price on shares of Macerich in a research report on Monday, December 15th. Scotiabank increased their price objective on Macerich from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 13th. Mizuho set a $21.00 target price on shares of Macerich in a research note on Friday, January 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Macerich in a research note on Thursday, January 22nd. Finally, Truist Financial increased their price target on shares of Macerich from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Macerich currently has a consensus rating of “Hold” and a consensus target price of $19.76.

About Macerich

The Macerich Company (NYSE: MAC) is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich’s core activities encompass property and asset management, leasing, marketing and redevelopment services.