B&I Capital AG Buys Shares of 370,450 The Macerich Company (NYSE:MAC)

B&I Capital AG bought a new position in shares of The Macerich Company (NYSE:MAC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 370,450 shares of the real estate investment trust's stock, valued at approximately $7,379,000. Macerich accounts for 2.4% of B&I Capital AG's holdings, making the stock its 20th largest position. B&I Capital AG owned 0.15% of Macerich as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. Blue Trust Inc. boosted its holdings in shares of Macerich by 152.2% in the 3rd 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 in the last quarter. Smartleaf Asset Management LLC grew its stake in Macerich by 314.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock worth $69,000 after buying an additional 2,630 shares during the last quarter. GAMMA Investing LLC increased its position in Macerich by 36.5% during the 4th quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust's stock valued at $87,000 after buying an additional 1,174 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Macerich in the fourth quarter valued at about $99,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Macerich by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust's stock worth $150,000 after acquiring an additional 2,161 shares in the last quarter. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Compass Point upped their price objective on shares of Macerich from $20.00 to $23.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Mizuho raised shares of Macerich from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $14.00 to $22.00 in a report on Wednesday, December 4th. Jefferies Financial Group raised shares of Macerich from a "hold" rating to a "buy" rating and boosted their price objective for the company from $19.00 to $23.00 in a report on Thursday, January 2nd. Scotiabank upgraded Macerich from a "sector underperform" rating to a "sector perform" rating and set a $22.00 target price for the company in a research note on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Macerich in a research note on Tuesday, December 17th. They set a "hold" rating and a $22.00 price target on the stock. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Macerich has an average rating of "Hold" and a consensus target price of $19.22.

Insider Activity at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the firm's stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the completion of the sale, the director now owns 83,479 shares of the company's stock, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.53% of the company's stock.

Macerich Price Performance

NYSE:MAC traded down $0.60 during trading hours on Thursday, hitting $17.58. 1,818,210 shares of the stock were exchanged, compared to its average volume of 1,788,861. The company has a market cap of $4.44 billion, a P/E ratio of 45.07, a P/E/G ratio of 0.71 and a beta of 2.62. The firm's fifty day moving average price is $20.04 and its 200 day moving average price is $18.99. The Macerich Company has a 52-week low of $12.99 and a 52-week high of $22.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Dividend Announcement

The firm also recently announced 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Tuesday, March 4th. Macerich's dividend payout ratio (DPR) is -86.08%.

Macerich Company Profile

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.