abrdn plc Raises Holdings in The Macerich Company (NYSE:MAC)

abrdn plc grew its holdings in The Macerich Company (NYSE:MAC - Free Report) by 51.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,991 shares of the real estate investment trust's stock after buying an additional 22,020 shares during the quarter. abrdn plc's holdings in Macerich were worth $1,297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MAC. Blue Trust Inc. increased its position 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 worth $28,000 after purchasing an additional 933 shares in the last quarter. GAMMA Investing LLC increased 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Macerich by 34.8% during 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 purchasing an additional 2,161 shares in the last quarter. Custom Index Systems LLC increased its position in shares of Macerich by 8.7% during the fourth quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust's stock worth $232,000 after purchasing an additional 928 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Macerich by 92.1% during the fourth quarter. KBC Group NV now owns 11,814 shares of the real estate investment trust's stock worth $235,000 after purchasing an additional 5,664 shares in the last quarter. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Andrea M. Stephen sold 63,289 shares of the stock in a transaction dated 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 transaction, the director now owns 83,479 shares of the company's stock, valued at approximately $1,718,832.61. This represents a 43.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company's stock.

Macerich Trading Down 1.4 %

Shares of Macerich stock traded down $0.29 during trading hours on Friday, hitting $20.51. The company's stock had a trading volume of 683,031 shares, compared to its average volume of 1,574,348. The Macerich Company has a twelve month low of $12.99 and a twelve month high of $22.27. The firm has a fifty day moving average of $20.41 and a 200-day moving average of $18.56. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 52.58, a P/E/G ratio of 0.72 and a beta of 2.50. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92.

Macerich Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.32%. Macerich's dividend payout ratio (DPR) is presently 174.36%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Piper Sandler boosted their price target on Macerich from $14.00 to $17.00 and gave the stock an "underweight" rating in a research report on Wednesday, December 11th. Jefferies Financial Group upgraded Macerich from a "hold" rating to a "buy" rating and boosted their price target for the stock from $19.00 to $23.00 in a research report on Thursday, January 2nd. Scotiabank raised Macerich from a "sector underperform" rating to a "sector perform" rating and set a $22.00 price objective on the stock in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft initiated coverage on Macerich in a research note on Tuesday, December 17th. They set a "hold" rating and a $22.00 price objective on the stock. Finally, Morgan Stanley raised Macerich from an "underweight" rating to an "equal weight" rating and set a $20.00 price objective on the stock in a research note on Wednesday, January 15th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $19.30.

Macerich 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.