Friedenthal Financial Buys Shares of 38,697 The Macerich Company (NYSE:MAC)

Friedenthal Financial bought a new position in The Macerich Company (NYSE:MAC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 38,697 shares of the real estate investment trust's stock, valued at approximately $771,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. increased its holdings in shares of Macerich by 0.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 275,731 shares of the real estate investment trust's stock worth $5,029,000 after acquiring an additional 700 shares during the period. Lodestone Wealth Management LLC increased its stake in shares of Macerich by 0.6% in the third quarter. Lodestone Wealth Management LLC now owns 154,082 shares of the real estate investment trust's stock valued at $2,810,000 after purchasing an additional 859 shares during the period. Townsquare Capital LLC raised its holdings in shares of Macerich by 7.2% during the third quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust's stock valued at $245,000 after buying an additional 902 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of 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 buying an additional 933 shares during the period. Finally, Blue Trust Inc. grew its holdings in Macerich by 152.2% in the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust's stock worth $28,000 after buying an additional 933 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors.

Macerich Price Performance

Shares of MAC traded up $0.18 during trading hours on Monday, hitting $19.48. 1,814,529 shares of the company were exchanged, compared to its average volume of 1,761,233. The firm has a fifty day simple moving average of $20.30 and a 200-day simple moving average of $17.77. The company has a market capitalization of $4.84 billion, a PE ratio of 49.95, a PEG ratio of 0.75 and a beta of 2.51. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92. The Macerich Company has a one year low of $12.99 and a one year high of $22.27.

Macerich (NYSE:MAC - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.90). Macerich had a net margin of 8.98% and a return on equity of 3.15%. The company had revenue of $220.20 million during the quarter, compared to analyst estimates of $208.54 million. During the same quarter last year, the business earned $0.44 EPS. The company's revenue for the quarter was up .9% compared to the same quarter last year. As a group, sell-side analysts predict that The Macerich Company will post 1.56 earnings per share for the current year.

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a $0.17 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.68 annualized dividend and a dividend yield of 3.49%. Macerich's dividend payout ratio (DPR) is presently 174.36%.

Analyst Upgrades and Downgrades

MAC has been the subject of a number of analyst reports. Scotiabank upgraded Macerich from a "sector underperform" rating to a "sector perform" rating and set a $22.00 price target for the company in a research report on Tuesday, December 17th. Jefferies Financial Group raised shares of 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 report on Thursday, January 2nd. The Goldman Sachs Group raised their target price on shares of Macerich from $13.00 to $14.60 and gave the company a "sell" rating in a research note on Thursday, September 19th. Compass Point boosted 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. Finally, Piper Sandler increased their price objective on shares of Macerich from $14.00 to $17.00 and gave the company an "underweight" rating in a report on Wednesday, December 11th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $19.24.

Insider Buying and Selling

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the firm's stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the completion of the sale, the director now directly owns 83,479 shares in the company, valued at approximately $1,718,832.61. This trade represents a 43.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.53% of the company's stock.

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.