Aew Capital Management L P Buys 453,180 Shares of The Macerich Company (NYSE:MAC)

Aew Capital Management L P lifted its holdings in shares of The Macerich Company (NYSE:MAC - Free Report) by 26.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,170,006 shares of the real estate investment trust's stock after buying an additional 453,180 shares during the period. Macerich comprises about 2.1% of Aew Capital Management L P's portfolio, making the stock its 16th biggest holding. Aew Capital Management L P owned about 0.87% of Macerich worth $43,227,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MAC. Blue Trust Inc. boosted its position in Macerich by 152.2% in 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 in the last quarter. GAMMA Investing LLC lifted its stake in shares of Macerich by 36.5% in the 4th quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust's stock valued at $87,000 after acquiring an additional 1,174 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Macerich during the 4th quarter valued at $99,000. Mirae Asset Global Investments Co. Ltd. grew its position in Macerich by 34.8% during the 3rd 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 during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Macerich in the 4th quarter worth about $212,000. 87.38% of the stock is currently owned by institutional investors.

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Insider Activity

In other news, Director Andrea M. Stephen sold 63,289 shares of the firm's stock in a transaction dated 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 completion of the sale, the director now directly owns 83,479 shares in the company, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by company insiders.

Macerich Trading Up 2.2 %

NYSE MAC traded up $0.40 during trading hours on Wednesday, hitting $18.19. 4,459,673 shares of the company's stock were exchanged, compared to its average volume of 1,791,978. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 46.64, a PEG ratio of 0.71 and a beta of 2.62. The stock has a 50-day simple moving average of $20.08 and a 200 day simple moving average of $18.99. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The Macerich Company has a 1-year low of $12.99 and a 1-year high of $22.27.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Tuesday, March 4th. Macerich's dividend payout ratio (DPR) is -86.08%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Scotiabank raised Macerich from a "sector underperform" rating to a "sector perform" rating and set a $22.00 price target on the stock in a research note on Tuesday, December 17th. Jefferies Financial Group upgraded shares of Macerich from a "hold" rating to a "buy" rating and lifted their target price for the stock from $19.00 to $23.00 in a research report on Thursday, January 2nd. Compass Point upped their price target on shares of Macerich from $20.00 to $23.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Morgan Stanley upgraded shares of Macerich from an "underweight" rating to an "equal weight" rating and set a $20.00 price target on the stock in a report on Wednesday, January 15th. Finally, Mizuho raised shares of Macerich from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $14.00 to $22.00 in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Macerich has a consensus rating of "Hold" and a consensus price target of $19.22.

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.