Proficio Capital Partners LLC bought a new position in The Macerich Company (NYSE:MAC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 33,227 shares of the real estate investment trust's stock, valued at approximately $662,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Blue Trust Inc. lifted its stake in shares of Macerich by 68.8% in the 4th quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock valued at $48,000 after acquiring an additional 1,064 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Macerich by 36.5% in the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust's stock worth $87,000 after buying an additional 1,174 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Macerich during the 4th quarter valued at $99,000. Sanctuary Advisors LLC purchased a new stake in Macerich during the 4th quarter valued at $212,000. Finally, Custom Index Systems LLC grew its holdings in Macerich by 8.7% in the 4th quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust's stock worth $232,000 after acquiring an additional 928 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on MAC shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Macerich in a report on Tuesday, December 17th. They set a "hold" rating and a $22.00 target price for the company. Piper Sandler cut their price objective on Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. decreased their target price on Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a report on Monday. Scotiabank cut their price target on shares of Macerich from $22.00 to $21.00 and set a "sector perform" rating on the stock in a report on Thursday, March 6th. Finally, Morgan Stanley raised shares of Macerich from an "underweight" rating to an "equal weight" rating and set a $20.00 target price for the company in a research report on Wednesday, January 15th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Macerich presently has an average rating of "Hold" and an average price target of $19.03.
Get Our Latest Analysis on Macerich
Insider Activity at Macerich
In other news, Director Andrea M. Stephen sold 63,289 shares of the stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $20.59, for a total value of $1,303,120.51. Following the sale, the director now directly owns 83,479 shares of the company's stock, valued at approximately $1,718,832.61. This represents a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.53% of the stock is owned by corporate insiders.
Macerich Stock Down 3.7 %
NYSE MAC traded down $0.63 during trading hours on Thursday, reaching $16.22. 1,581,270 shares of the company's stock traded hands, compared to its average volume of 1,820,724. The firm has a market cap of $4.09 billion, a PE ratio of 41.58, a PEG ratio of 0.71 and a beta of 2.62. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The Macerich Company has a 52-week low of $12.99 and a 52-week high of $22.27. The firm has a 50-day simple moving average of $19.70 and a 200 day simple moving average of $19.04.
Macerich Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be given a $0.17 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.19%. Macerich's dividend payout ratio is currently -86.08%.
About Macerich
(
Free Report)
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.
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