Mraz Amerine & Associates Inc. Reduces Stock Holdings in The Macerich Company (NYSE:MAC)

Mraz Amerine & Associates Inc. lessened its holdings in shares of The Macerich Company (NYSE:MAC) by 64.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,394 shares of the real estate investment trust’s stock after selling 18,579 shares during the period. Mraz Amerine & Associates Inc.’s holdings in Macerich were worth $190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in shares of Macerich by 7.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 19,322 shares of the real estate investment trust’s stock valued at $298,000 after buying an additional 1,333 shares during the last quarter. Harbour Capital Advisors LLC purchased a new stake in Macerich in the 1st quarter worth approximately $577,000. SeaCrest Wealth Management LLC boosted its position in Macerich by 1.6% in 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. Monument Capital Management acquired a new stake in shares of Macerich during the 1st quarter worth approximately $406,000. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Macerich by 3,114.0% during the 1st quarter. Commonwealth Equity Services LLC now owns 428,936 shares of the real estate investment trust’s stock valued at $7,391,000 after purchasing an additional 415,590 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on MAC shares. StockNews.com upgraded shares of Macerich from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Piper Sandler lifted their price target on Macerich from $11.00 to $14.00 and gave the company an “underweight” rating in a research note on Tuesday, September 3rd. Bank of America increased their price target on Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. The Goldman Sachs Group boosted 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. Finally, Evercore ISI increased their target price 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 investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.84.

Macerich Stock Up 0.4 %

MAC stock opened at $18.36 on Friday. The Macerich Company has a 12 month low of $9.21 and a 12 month high of $18.94. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.76. The company has a market cap of $3.96 billion, a price-to-earnings ratio of -11.77, a PEG ratio of 0.60 and a beta of 2.50. The firm has a 50-day moving average of $16.88 and a two-hundred day moving average of $15.82.

About Macerich

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.