Candriam S.C.A. lessened its stake in The Macerich Company (NYSE:MAC - Free Report) by 33.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 480,957 shares of the real estate investment trust's stock after selling 237,385 shares during the period. Candriam S.C.A. owned 0.19% of Macerich worth $9,581,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Blue Trust Inc. grew its stake in Macerich by 68.8% during the 4th 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 during the last quarter. Smartleaf Asset Management LLC grew its holdings in Macerich by 314.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock valued at $69,000 after purchasing an additional 2,630 shares during the period. GAMMA Investing LLC increased its stake in shares of Macerich by 36.5% during the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust's stock worth $87,000 after purchasing an additional 1,174 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Macerich in the 4th quarter valued at $99,000. Finally, Sanctuary Advisors LLC acquired a new position in Macerich during the fourth quarter worth $212,000. 87.38% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms recently weighed in on MAC. JPMorgan Chase & Co. dropped their target price on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a report on Monday. Mizuho raised shares of Macerich from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $14.00 to $22.00 in a research note on Wednesday, December 4th. The Goldman Sachs Group dropped their price target on shares of Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research note on Monday. Jefferies Financial Group upgraded shares of Macerich from a "hold" rating to a "buy" rating and upped their target price for the stock from $19.00 to $23.00 in a research note on Thursday, January 2nd. Finally, Scotiabank dropped their price objective on shares of Macerich from $22.00 to $21.00 and set a "sector perform" rating on the stock in a research report on Thursday, March 6th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $19.03.
Check Out Our Latest Research Report on Macerich
Macerich Stock Performance
MAC stock traded up $0.45 during midday trading on Tuesday, reaching $16.33. The company had a trading volume of 4,193,356 shares, compared to its average volume of 1,807,380. 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 $4.12 billion, a PE ratio of 41.86, a P/E/G ratio of 0.71 and a beta of 2.62. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The stock has a 50 day moving average price of $19.92 and a 200 day moving average price of $19.05.
Macerich Announces Dividend
The business 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 dividend of $0.17 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a yield of 4.17%. Macerich's payout ratio is currently -86.08%.
Insider Buying and Selling
In other news, Director Andrea M. Stephen sold 63,289 shares of Macerich stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the sale, the director now directly owns 83,479 shares in the company, valued at approximately $1,718,832.61. The trade was a 43.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by insiders.
About Macerich
(
Free Report)
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.
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