International Assets Investment Management LLC Sells 246,641 Shares of The Macerich Company (NYSE:MAC)

International Assets Investment Management LLC trimmed its holdings in The Macerich Company (NYSE:MAC - Free Report) by 94.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 13,957 shares of the real estate investment trust's stock after selling 246,641 shares during the quarter. International Assets Investment Management LLC's holdings in Macerich were worth $282,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MAC. Smead Capital Management Inc. boosted its holdings in shares of Macerich by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust's stock valued at $372,706,000 after acquiring an additional 688,790 shares during the last quarter. FMR LLC lifted its position in Macerich by 12,475.9% during the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust's stock valued at $214,738,000 after purchasing an additional 11,679,276 shares during the period. Geode Capital Management LLC boosted its holdings in Macerich by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,426,909 shares of the real estate investment trust's stock worth $99,004,000 after purchasing an additional 34,982 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Macerich by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,801,369 shares of the real estate investment trust's stock worth $87,577,000 after purchasing an additional 113,128 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Macerich by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,217,373 shares of the real estate investment trust's stock worth $49,675,000 after purchasing an additional 126,192 shares during the period. Hedge funds and other institutional investors 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 Macerich stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $20.59, for a total value of $1,303,120.51. Following the sale, the director now directly owns 83,479 shares in the company, valued at approximately $1,718,832.61. The trade was a 43.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.53% of the stock is owned by corporate insiders.

Macerich Stock Performance

MAC opened at $19.22 on Monday. The company has a 50 day simple moving average of $20.30 and a two-hundred day simple moving average of $17.77. 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 firm has a market cap of $4.78 billion, a P/E ratio of 49.28, a PEG ratio of 0.75 and a beta of 2.51. The Macerich Company has a 1-year low of $12.99 and a 1-year high of $22.27.

Macerich (NYSE:MAC - Get Free Report) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.50) earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.90). The firm had revenue of $220.20 million during the quarter, compared to the consensus estimate of $208.54 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. The company's quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 EPS. Equities analysts forecast that The Macerich Company will post 1.56 earnings per share for the current fiscal year.

Macerich Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.54%. The ex-dividend date was Tuesday, November 12th. Macerich's dividend payout ratio (DPR) is presently 174.36%.

Analyst Ratings Changes

MAC has been the topic of several research analyst reports. Compass Point increased their price target on Macerich from $20.00 to $23.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Scotiabank raised Macerich from a "sector underperform" rating to a "sector perform" rating and set a $22.00 target price on the stock in a research report on Tuesday, December 17th. The Goldman Sachs Group upped their price target on shares of Macerich from $13.00 to $14.60 and gave the company a "sell" rating in a research report on Thursday, September 19th. Piper Sandler increased their price objective on shares of Macerich from $14.00 to $17.00 and gave the stock an "underweight" rating in a research note on Wednesday, December 11th. Finally, Mizuho upgraded shares of Macerich from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $14.00 to $22.00 in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Macerich has an average rating of "Hold" and a consensus price target of $19.24.

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.