Cibc World Markets Corp Invests $441,000 in The Macerich Company (NYSE:MAC)

Cibc World Markets Corp purchased a new stake in shares of The Macerich Company (NYSE:MAC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 22,157 shares of the real estate investment trust's stock, valued at approximately $441,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of Macerich by 68.8% in 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 boosted its stake 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 acquiring an additional 2,630 shares during the last quarter. GAMMA Investing LLC grew 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 period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Macerich during the 4th quarter worth approximately $99,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Macerich in the 4th quarter worth approximately $212,000. Hedge funds and other institutional investors own 87.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MAC shares. Piper Sandler decreased their target price on Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a research report on Friday, February 28th. The Goldman Sachs Group cut their price target on Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research note on Monday, March 10th. Jefferies Financial Group upgraded Macerich from a "hold" rating to a "buy" rating and boosted their price objective for the company from $19.00 to $23.00 in a research note on Thursday, January 2nd. Scotiabank cut their target price on shares of Macerich from $22.00 to $21.00 and set a "sector perform" rating for the company in a research report on Thursday, March 6th. Finally, Morgan Stanley upgraded shares of 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. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $19.49.

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Macerich Price Performance

NYSE:MAC traded down $0.09 during trading hours on Thursday, hitting $17.32. The stock had a trading volume of 1,368,886 shares, compared to its average volume of 1,839,642. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 44.40, a P/E/G ratio of 0.71 and a beta of 2.62. The Macerich Company has a one year low of $12.99 and a one year high of $22.27. The company has a 50 day simple moving average of $19.13 and a two-hundred day simple moving average of $19.15. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were paid a $0.17 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a yield of 3.93%. Macerich's dividend payout ratio is currently -86.08%.

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.