Burkehill Global Management LP Makes New Investment in The Macerich Company (NYSE:MAC)

Burkehill Global Management LP purchased a new position in shares of The Macerich Company (NYSE:MAC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,000,000 shares of the real estate investment trust's stock, valued at approximately $19,920,000. Macerich makes up about 1.9% of Burkehill Global Management LP's holdings, making the stock its 16th biggest position. Burkehill Global Management LP owned about 0.40% of Macerich as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MAC. FMR LLC raised its position in shares of Macerich by 12,475.9% during the 3rd quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust's stock worth $214,738,000 after buying an additional 11,679,276 shares in the last quarter. Bamco Inc. NY boosted its position in shares of Macerich by 742.3% during the 3rd quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust's stock valued at $30,924,000 after purchasing an additional 1,494,145 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Macerich by 399.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,373 shares of the real estate investment trust's stock valued at $28,206,000 after purchasing an additional 1,236,983 shares in the last quarter. Smead Capital Management Inc. boosted its position in shares of Macerich by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust's stock valued at $372,706,000 after purchasing an additional 688,790 shares in the last quarter. Finally, Brookfield Corp ON bought a new position in shares of Macerich during the 3rd quarter valued at about $9,217,000. 87.38% of the stock is currently owned by institutional investors.

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Macerich Stock Up 1.6 %

NYSE MAC traded up $0.27 during trading on Friday, reaching $16.47. 2,110,567 shares of the company's stock were exchanged, compared to its average volume of 1,814,127. The Macerich Company has a fifty-two week low of $12.99 and a fifty-two week high of $22.27. The firm has a market capitalization of $4.16 billion, a PE ratio of 42.22, a P/E/G ratio of 0.71 and a beta of 2.62. 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 company's fifty day simple moving average is $19.54 and its 200-day simple moving average is $19.05.

Macerich Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Tuesday, March 4th. Macerich's payout ratio is currently -86.08%.

Insiders Place Their Bets

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the company'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 transaction, the director now directly owns 83,479 shares of the company's stock, valued at $1,718,832.61. This represents a 43.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group upgraded shares of Macerich from a "hold" rating to a "buy" rating and raised their price objective for the company from $19.00 to $23.00 in a research report on Thursday, January 2nd. Morgan Stanley upgraded Macerich from an "underweight" rating to an "equal weight" rating and set a $20.00 price objective on the stock in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft started coverage on Macerich in a report on Tuesday, December 17th. They set a "hold" rating and a $22.00 price objective on the stock. The Goldman Sachs Group cut their price objective on Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a report on Monday, March 10th. Finally, Scotiabank cut their price objective on Macerich from $22.00 to $21.00 and set a "sector perform" rating on the stock in a report on Thursday, March 6th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Macerich currently has an average rating of "Hold" and an average price target 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.