American Assets Capital Advisers LLC Cuts Position in The Macerich Company (NYSE:MAC)

American Assets Capital Advisers LLC decreased its holdings in shares of The Macerich Company (NYSE:MAC - Free Report) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 295,202 shares of the real estate investment trust's stock after selling 31,552 shares during the quarter. Macerich comprises about 2.0% of American Assets Capital Advisers LLC's portfolio, making the stock its 17th biggest holding. American Assets Capital Advisers LLC owned approximately 0.12% of Macerich worth $5,880,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted its position in Macerich by 68.8% during the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock worth $48,000 after buying an additional 1,064 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of 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 acquiring an additional 2,630 shares during the period. GAMMA Investing LLC boosted its position in shares of 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 acquiring an additional 1,174 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Macerich in the fourth quarter valued at about $99,000. Finally, Sanctuary Advisors LLC acquired a new stake in Macerich during the fourth quarter worth about $212,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at Macerich

In related 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 transaction of $1,303,120.51. Following the transaction, 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 filing with the SEC, which is available through this link. 0.53% of the stock is currently owned by company insiders.

Macerich Stock Performance

NYSE:MAC traded down $0.10 during mid-day trading on Thursday, reaching $17.31. 3,211,031 shares of the stock were exchanged, compared to its average volume of 1,829,191. The stock has a market capitalization of $4.37 billion, a P/E ratio of 44.37, a P/E/G ratio of 0.71 and a beta of 2.62. The Macerich Company has a 1 year low of $12.99 and a 1 year high of $22.27. The company has a 50 day simple moving average of $19.35 and a 200-day simple moving average of $19.08. The company has a quick ratio of 0.92, a current 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 was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were issued a $0.17 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.93%. Macerich's payout ratio is -86.08%.

Wall Street Analyst Weigh In

MAC has been the topic of several recent analyst reports. Mizuho upgraded shares of Macerich from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $14.00 to $22.00 in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft assumed coverage on Macerich in a research report on Tuesday, December 17th. They issued a "hold" rating and a $22.00 price objective for the company. Morgan Stanley raised Macerich from an "underweight" rating to an "equal weight" rating and set a $20.00 target price for the company in a research note on Wednesday, January 15th. Jefferies Financial Group upgraded Macerich from a "hold" rating to a "buy" rating and increased their price target for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. Finally, Piper Sandler decreased their target price on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a research report on Friday, February 28th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $19.03.

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.