KLP Kapitalforvaltning AS Buys Shares of 49,849 The Macerich Company (NYSE:MAC)

KLP Kapitalforvaltning AS acquired a new stake in The Macerich Company (NYSE:MAC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 49,849 shares of the real estate investment trust's stock, valued at approximately $993,000.

Other hedge funds also recently made changes to their positions in the company. Citigroup Inc. increased its position in shares of Macerich by 32.3% during the third quarter. Citigroup Inc. now owns 359,069 shares of the real estate investment trust's stock worth $6,549,000 after acquiring an additional 87,611 shares during the last quarter. Bamco Inc. NY increased its holdings in Macerich by 742.3% during the 3rd quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust's stock worth $30,924,000 after purchasing an additional 1,494,145 shares during the last quarter. Friedenthal Financial acquired a new position in shares of Macerich in the 4th quarter valued at approximately $771,000. Smartleaf Asset Management LLC boosted its stake in shares of Macerich by 314.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock valued at $69,000 after buying an additional 2,630 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Macerich by 20.4% during the fourth quarter. Van ECK Associates Corp now owns 44,843 shares of the real estate investment trust's stock worth $893,000 after buying an additional 7,608 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company's stock.

Analyst Ratings Changes

MAC has been the topic of several recent analyst reports. Morgan Stanley cut their price target on shares of Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a report on Tuesday. Scotiabank cut their target price on shares of Macerich from $22.00 to $21.00 and set a "sector perform" rating on the stock in a research note on Thursday, March 6th. The Goldman Sachs Group lowered their price objective on Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a report on Monday, March 10th. JPMorgan Chase & Co. cut their price objective on Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a research note on Monday, March 10th. Finally, Jefferies Financial Group upgraded Macerich from a "hold" rating to a "buy" rating and lifted their target price for the stock from $19.00 to $23.00 in a research report on Thursday, January 2nd. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $19.37.

Remove Ads

Macerich Stock Performance

MAC stock traded down $2.10 during mid-day trading on Thursday, reaching $15.62. The company had a trading volume of 3,677,492 shares, compared to its average volume of 1,917,877. The Macerich Company has a one year low of $12.99 and a one year high of $22.27. The stock has a market capitalization of $3.94 billion, a P/E ratio of 40.04, a P/E/G ratio of 0.71 and a beta of 2.62. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.68. The stock's 50-day simple moving average is $18.79 and its two-hundred day simple moving average is $19.18.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend was Tuesday, March 4th. Macerich's payout ratio is -86.08%.

About Macerich

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.