International Assets Investment Management LLC Lowers Stock Position in The Macerich Company (NYSE:MAC)

International Assets Investment Management LLC decreased its holdings in The Macerich Company (NYSE:MAC) by 6.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,635 shares of the real estate investment trust’s stock after selling 1,363 shares during the quarter. International Assets Investment Management LLC’s holdings in Macerich were worth $288,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MAC. DekaBank Deutsche Girozentrale raised its holdings in shares of Macerich by 158.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 131,487 shares of the real estate investment trust’s stock valued at $2,201,000 after buying an additional 80,541 shares during the last quarter. Murphy Pohlad Asset Management LLC raised its stake in Macerich by 297.7% during the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 110,560 shares of the real estate investment trust’s stock valued at $1,707,000 after acquiring an additional 82,760 shares during the last quarter. Jessup Wealth Management Inc acquired a new stake in Macerich during the 1st quarter worth approximately $7,222,000. Vanguard Group Inc. lifted its position in Macerich by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 34,478,278 shares of the real estate investment trust’s stock worth $532,000,000 after acquiring an additional 336,251 shares during the period. Finally, UniSuper Management Pty Ltd grew its stake in shares of Macerich by 82.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 112,724 shares of the real estate investment trust’s stock valued at $1,942,000 after purchasing an additional 50,989 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MAC shares. StockNews.com raised Macerich from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. The Goldman Sachs Group reduced their target price on shares of Macerich from $14.00 to $12.50 and set a “sell” rating for the company in a research note on Monday, June 17th. Evercore ISI boosted their price target on shares of Macerich from $15.00 to $16.00 and gave the stock an “in-line” rating in a research note on Wednesday. Finally, Scotiabank downgraded shares of Macerich from a “sector perform” rating to a “sector underperform” rating and reduced their price objective for the company from $16.00 to $14.00 in a research report on Friday, May 17th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Macerich has a consensus rating of “Hold” and a consensus target price of $14.81.

Macerich Stock Up 2.2 %

Shares of NYSE MAC opened at $15.97 on Friday. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -10.24, a price-to-earnings-growth ratio of 0.51 and a beta of 2.51. The Macerich Company has a 52 week low of $9.21 and a 52 week high of $17.69. The firm has a 50-day moving average price of $15.33 and a 200 day moving average price of $15.63. The company has a quick ratio of 1.03, a current ratio of 0.86 and a debt-to-equity ratio of 1.76.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Monday, August 19th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.26%. Macerich’s payout ratio is -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.