Allianz Asset Management GmbH Reduces Stock Holdings in Macerich Company (The) $MAC

Allianz Asset Management GmbH lowered its stake in Macerich Company (The) (NYSE:MAC) by 22.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 258,662 shares of the real estate investment trust’s stock after selling 76,038 shares during the period. Allianz Asset Management GmbH owned 0.10% of Macerich worth $4,708,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in shares of Macerich by 14.8% in the 3rd quarter. GAMMA Investing LLC now owns 5,371 shares of the real estate investment trust’s stock worth $98,000 after purchasing an additional 691 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Macerich by 16.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,205 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 858 shares in the last quarter. Archer Investment Corp lifted its stake in Macerich by 25.9% during the 3rd quarter. Archer Investment Corp now owns 7,179 shares of the real estate investment trust’s stock valued at $131,000 after acquiring an additional 1,479 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Macerich during the 2nd quarter valued at about $191,000. Finally, Inspire Advisors LLC boosted its holdings 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 valued at $192,000 after acquiring an additional 1,489 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors.

Macerich Stock Performance

MAC opened at $19.36 on Wednesday. The firm has a market cap of $4.96 billion, a P/E ratio of -12.17, a PEG ratio of 4.23 and a beta of 2.16. Macerich Company has a 1-year low of $12.48 and a 1-year high of $20.99. The company has a 50 day simple moving average of $18.50 and a two-hundred day simple moving average of $17.82. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.03 and a quick ratio of 1.03.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MAC. Truist Financial increased their price objective on shares of Macerich from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Mizuho set a $21.00 price target on Macerich in a report on Friday, January 9th. Jefferies Financial Group restated a “buy” rating and issued a $21.00 price target on shares of Macerich in a research note on Monday, December 15th. Scotiabank increased their target price on Macerich from $18.00 to $19.00 and gave the company a “sector perform” rating in a report on Thursday, November 13th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Macerich in a research note on Thursday, January 22nd. 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.76.

Macerich Company Profile

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.