Custom Index Systems LLC Sells 3,852 Shares of The Macerich Company (NYSE:MAC)

Custom Index Systems LLC trimmed its position in shares of The Macerich Company (NYSE:MAC) by 26.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,702 shares of the real estate investment trust’s stock after selling 3,852 shares during the period. Custom Index Systems LLC’s holdings in Macerich were worth $195,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in shares of Macerich by 152.2% during the third quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 933 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in Macerich in the 1st quarter valued at $46,000. Quest Partners LLC purchased a new stake in Macerich in the second quarter worth $50,000. GAMMA Investing LLC lifted its position in shares of Macerich by 40.9% during the third quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 933 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Macerich during the second quarter valued at $129,000. 87.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on MAC. Bank of America raised their price target on shares of Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Piper Sandler raised their target price on shares of Macerich from $11.00 to $14.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 3rd. The Goldman Sachs Group boosted their price target on Macerich from $13.00 to $14.60 and gave the company a “sell” rating in a report on Thursday, September 19th. Evercore ISI raised their price target on Macerich from $15.00 to $16.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Finally, StockNews.com raised shares of Macerich from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Macerich presently has a consensus rating of “Hold” and a consensus price target of $15.84.

Macerich Price Performance

Shares of NYSE MAC opened at $18.10 on Monday. The Macerich Company has a fifty-two week low of $9.21 and a fifty-two week high of $18.94. The company has a market cap of $3.90 billion, a PE ratio of -11.60, a P/E/G ratio of 0.61 and a beta of 2.50. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.86 and a current ratio of 0.86. The business has a 50-day simple moving average of $16.94 and a two-hundred day simple moving average of $15.83.

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.