Cibc World Markets Corp Purchases Shares of 22,157 The Macerich Company (NYSE:MAC)

Cibc World Markets Corp bought a new stake in The Macerich Company (NYSE:MAC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 22,157 shares of the real estate investment trust's stock, valued at approximately $441,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MAC. Corient Private Wealth LLC acquired a new position in shares of Macerich in the fourth quarter valued at approximately $273,000. Natixis Advisors LLC grew its position in shares of Macerich by 21.0% during the fourth quarter. Natixis Advisors LLC now owns 207,180 shares of the real estate investment trust's stock worth $4,127,000 after buying an additional 35,951 shares in the last quarter. Swiss National Bank increased its stake in shares of Macerich by 16.1% during the fourth quarter. Swiss National Bank now owns 488,815 shares of the real estate investment trust's stock worth $9,737,000 after buying an additional 67,700 shares during the period. Burkehill Global Management LP acquired a new stake in Macerich in the fourth quarter valued at approximately $19,920,000. Finally, HighTower Advisors LLC lifted its stake in Macerich by 6.0% in the fourth quarter. HighTower Advisors LLC now owns 62,831 shares of the real estate investment trust's stock worth $1,252,000 after acquiring an additional 3,536 shares during the last quarter. Hedge funds and other institutional investors own 87.38% of the company's stock.

Macerich Price Performance

Shares of NYSE:MAC traded down $0.38 on Tuesday, reaching $17.42. 543,300 shares of the company were exchanged, compared to its average volume of 1,842,220. The company has a 50-day moving average of $19.22 and a 200-day moving average of $19.15. 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 firm has a market cap of $4.40 billion, a price-to-earnings ratio of 44.68, a price-to-earnings-growth 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.

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Macerich Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders 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 yield of 3.90%. Macerich's dividend payout ratio (DPR) is presently -86.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Macerich in a research report on Tuesday, December 17th. They issued a "hold" rating and a $22.00 price objective on the stock. The Goldman Sachs Group cut their price target on Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research note on Monday, March 10th. Jefferies Financial Group raised Macerich from a "hold" rating to a "buy" rating and upped their price objective for the stock from $19.00 to $23.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. cut their target price on Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a research report on Monday, March 10th. Finally, Mizuho raised Macerich from an "underperform" rating to a "neutral" rating and upped their price target for the company from $14.00 to $22.00 in a report on Wednesday, December 4th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $19.20.

Insider Activity

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

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.