The Macerich Company (NYSE:MAC) Shares Bought by Wolverine Asset Management LLC

Wolverine Asset Management LLC grew its holdings in The Macerich Company (NYSE:MAC) by 122.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 116,686 shares of the real estate investment trust’s stock after buying an additional 64,158 shares during the quarter. Wolverine Asset Management LLC’s holdings in Macerich were worth $1,802,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. SeaCrest Wealth Management LLC grew its stake in Macerich by 1.6% during the 1st quarter. SeaCrest Wealth Management LLC now owns 60,937 shares of the real estate investment trust’s stock worth $1,050,000 after purchasing an additional 978 shares in the last quarter. Metis Global Partners LLC grew its position in shares of Macerich by 8.2% during the fourth quarter. Metis Global Partners LLC now owns 13,666 shares of the real estate investment trust’s stock worth $211,000 after buying an additional 1,040 shares in the last quarter. Swiss National Bank increased its stake in shares of Macerich by 0.3% during the first quarter. Swiss National Bank now owns 425,415 shares of the real estate investment trust’s stock worth $7,330,000 after buying an additional 1,200 shares during the period. CIBC Asset Management Inc raised its holdings in Macerich by 5.8% in the fourth quarter. CIBC Asset Management Inc now owns 23,313 shares of the real estate investment trust’s stock valued at $360,000 after acquiring an additional 1,275 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Macerich by 7.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 19,322 shares of the real estate investment trust’s stock worth $298,000 after acquiring an additional 1,333 shares during the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MAC shares. 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 report on Tuesday. StockNews.com raised Macerich from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Evercore ISI increased their price objective on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Wednesday, August 28th. The Goldman Sachs Group decreased their target price on Macerich from $14.00 to $12.50 and set a “sell” rating for the company in a research note on Monday, June 17th. Finally, Scotiabank lowered shares of Macerich from a “sector perform” rating to a “sector underperform” rating and dropped their price target for the company from $16.00 to $14.00 in a research note on Friday, May 17th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.19.

Macerich Stock Performance

Shares of Macerich stock opened at $15.17 on Wednesday. The firm’s fifty day simple moving average is $15.36 and its 200-day simple moving average is $15.60. The Macerich Company has a 12 month low of $9.21 and a 12 month high of $17.69. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -9.72, a PEG ratio of 0.53 and a beta of 2.51. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.86 and a quick ratio of 0.86.

Macerich Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Shareholders of record on Monday, August 19th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.68 dividend on an annualized basis and a yield of 4.48%. Macerich’s dividend payout ratio is presently -43.59%.

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.