Entropy Technologies LP bought a new position in shares of The Macerich Company (NYSE:MAC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,897 shares of the real estate investment trust's stock, valued at approximately $476,000.
Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in Macerich by 152.2% during the third quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 933 shares during the last quarter. GAMMA Investing LLC raised its position in Macerich by 40.9% during the third quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust's stock worth $59,000 after acquiring an additional 933 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Macerich by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust's stock worth $150,000 after acquiring an additional 2,161 shares in the last quarter. Custom Index Systems LLC raised its position in Macerich by 8.7% during the fourth quarter. Custom Index Systems LLC now owns 11,630 shares of the real estate investment trust's stock worth $232,000 after acquiring an additional 928 shares in the last quarter. Finally, KBC Group NV raised its position in Macerich by 92.1% during the fourth quarter. KBC Group NV now owns 11,814 shares of the real estate investment trust's stock worth $235,000 after acquiring an additional 5,664 shares in the last quarter. Institutional investors and hedge funds own 87.38% of the company's stock.
Insider Activity at Macerich
In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $1,718,832.61. The trade was a 43.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by insiders.
Macerich Price Performance
Shares of Macerich stock traded down $0.29 during midday trading on Friday, hitting $20.51. 683,031 shares of the company traded hands, compared to its average volume of 1,558,855. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 52.58, a PEG ratio of 0.72 and a beta of 2.50. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The firm's fifty day moving average price is $20.41 and its 200-day moving average price is $18.60. The Macerich Company has a 12 month low of $12.99 and a 12 month high of $22.27.
Macerich Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Tuesday, March 4th. Macerich's dividend payout ratio (DPR) is presently 174.36%.
Wall Street Analyst Weigh In
MAC has been the topic of several analyst reports. Piper Sandler upped their price target on shares of Macerich from $14.00 to $17.00 and gave the stock an "underweight" rating in a research report on Wednesday, December 11th. Mizuho raised 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 research report on Wednesday, December 4th. Compass Point upped their price target on shares of Macerich from $20.00 to $23.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. StockNews.com lowered shares of Macerich from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. 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. Three 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 stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $19.30.
View Our Latest Research Report on MAC
Macerich Profile
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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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