Macerich Company (The) $MAC Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in Macerich Company (The) (NYSE:MAC) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,220,535 shares of the real estate investment trust’s stock after selling 32,291 shares during the quarter. Principal Financial Group Inc.’s holdings in Macerich were worth $22,214,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC lifted 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 acquiring an additional 691 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position 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 purchasing an additional 858 shares during the period. Archer Investment Corp lifted its stake in Macerich by 25.9% during the third quarter. Archer Investment Corp now owns 7,179 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 1,479 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Macerich during the second quarter worth $191,000. Finally, Inspire Advisors LLC grew its stake in shares of Macerich by 14.4% in the second quarter. Inspire Advisors LLC now owns 11,858 shares of the real estate investment trust’s stock valued at $192,000 after buying an additional 1,489 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on MAC shares. Scotiabank raised 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. Mizuho set a $21.00 price target on shares of Macerich in a research report on Friday, January 9th. Jefferies Financial Group restated a “buy” rating and issued a $21.00 price objective on shares of Macerich in a report on Monday, December 15th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Macerich in a report on Thursday, January 22nd. Finally, Truist Financial raised their price target 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. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $19.76.

Macerich Price Performance

Shares of NYSE:MAC opened at $19.65 on Friday. Macerich Company has a 12 month low of $12.48 and a 12 month high of $20.99. The firm has a market capitalization of $5.03 billion, a P/E ratio of -12.36, a P/E/G ratio of 4.36 and a beta of 2.16. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.03 and a quick ratio of 1.03. The company’s fifty day moving average price is $18.42 and its 200 day moving average price is $17.80.

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.