Perpetual Ltd Has $812,000 Stake in The Macerich Company (NYSE:MAC)

Perpetual Ltd trimmed its holdings in shares of The Macerich Company (NYSE:MAC) by 29.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,526 shares of the real estate investment trust’s stock after selling 18,960 shares during the period. Perpetual Ltd’s holdings in Macerich were worth $812,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new stake in Macerich during the 1st quarter valued at $46,000. Quest Partners LLC acquired a new stake in Macerich during the 2nd quarter valued at $50,000. GAMMA Investing LLC increased its holdings in Macerich by 40.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 933 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Macerich during the 2nd quarter valued at $129,000. Finally, Inspire Advisors LLC acquired a new stake in Macerich during the 2nd quarter valued at $177,000. 87.38% of the stock is owned by institutional investors and hedge funds.

Macerich Stock Up 2.0 %

NYSE:MAC opened at $18.13 on Friday. The Macerich Company has a 12-month low of $9.21 and a 12-month high of $18.35. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $3.92 billion, a P/E ratio of -54.94, a P/E/G ratio of 0.60 and a beta of 2.50. The stock’s fifty day simple moving average is $16.20 and its 200-day simple moving average is $15.71.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 19th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.68 annualized dividend and a yield of 3.75%. Macerich’s dividend payout ratio is presently -206.05%.

Wall Street Analyst Weigh In

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