Edgestream Partners L.P. Reduces Stock Position in The Macerich Company (NYSE:MAC)

Edgestream Partners L.P. decreased its holdings in The Macerich Company (NYSE:MAC - Free Report) by 19.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 243,947 shares of the real estate investment trust's stock after selling 57,429 shares during the period. Edgestream Partners L.P. owned 0.10% of Macerich worth $4,859,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Blue Trust Inc. lifted its stake in 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 purchasing an additional 1,064 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Macerich by 314.2% in 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 last quarter. GAMMA Investing LLC boosted its stake 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 worth $87,000 after purchasing an additional 1,174 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Macerich during the 4th quarter valued at about $99,000. Finally, Sanctuary Advisors LLC purchased a new stake in Macerich in the 4th quarter worth about $212,000. Hedge funds and other institutional investors own 87.38% of the company's stock.

Insider Activity at Macerich

In other news, Director Andrea M. Stephen sold 63,289 shares of the business'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 completion of the transaction, the director now owns 83,479 shares of the company's stock, valued at $1,718,832.61. The trade was a 43.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is owned by insiders.

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Wall Street Analyst Weigh In

Several research analysts have issued reports on MAC shares. Piper Sandler dropped 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. JPMorgan Chase & Co. dropped their price objective on Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft began coverage on Macerich in a research note on Tuesday, December 17th. They issued a "hold" rating and a $22.00 target price on the stock. Mizuho upgraded shares of Macerich from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $14.00 to $22.00 in a report on Wednesday, December 4th. Finally, Morgan Stanley raised shares of Macerich from an "underweight" rating to an "equal weight" rating and set a $20.00 price target on the stock in a research note on Wednesday, January 15th. Four 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. According to MarketBeat, Macerich currently has a consensus rating of "Hold" and a consensus price target of $19.03.

Macerich Stock Up 3.1 %

Shares of MAC traded up $0.51 during trading hours on Wednesday, hitting $16.83. The company had a trading volume of 3,714,330 shares, compared to its average volume of 1,816,602. The company has a market capitalization of $4.25 billion, a PE ratio of 43.14, a price-to-earnings-growth ratio of 0.71 and a beta of 2.62. The company's fifty day moving average price is $19.76 and its two-hundred day moving average price is $19.06. The Macerich Company has a one year low of $12.99 and a one year high of $22.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be paid 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 4.04%. Macerich's payout ratio is -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.