Monument Capital Management acquired a new stake in shares of 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 institutional investor acquired 15,016 shares of the real estate investment trust's stock, valued at approximately $299,000.
Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. increased its position in shares of Macerich by 152.2% during the third quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 933 shares during the period. GAMMA Investing LLC increased its position in shares of Macerich by 36.5% during the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust's stock valued at $87,000 after buying an additional 1,174 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 valued at $150,000 after buying an additional 2,161 shares during the period. Custom Index Systems LLC increased its position in shares of 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 valued at $232,000 after buying an additional 928 shares during the period. Finally, KBC Group NV increased its position in shares of Macerich by 92.1% during the fourth quarter. KBC Group NV now owns 11,814 shares of the real estate investment trust's stock valued at $235,000 after buying an additional 5,664 shares during the period. 87.38% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the stock in a transaction on 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 in the company, valued at approximately $1,718,832.61. This represents a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by corporate insiders.
Macerich Trading Down 0.7 %
MAC stock traded down $0.15 on Thursday, reaching $20.38. The company's stock had a trading volume of 1,182,689 shares, compared to its average volume of 1,557,688. The business has a fifty day simple moving average of $20.34 and a two-hundred day simple moving average of $18.70. The Macerich Company has a 12-month low of $12.99 and a 12-month high of $22.27. The firm has a market cap of $5.06 billion, a PE ratio of 52.24, a PEG ratio of 0.73 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.
Macerich Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th will be issued a $0.17 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a yield of 3.34%. Macerich's dividend payout ratio (DPR) is 174.36%.
Wall Street Analysts Forecast Growth
MAC has been the topic of several analyst reports. Mizuho upgraded Macerich from an "underperform" rating to a "neutral" rating and upped their price target for the company from $14.00 to $22.00 in a research report on Wednesday, December 4th. Jefferies Financial Group upgraded Macerich from a "hold" rating to a "buy" rating and upped their price target for the company from $19.00 to $23.00 in a research report on Thursday, January 2nd. Piper Sandler upped their price objective 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Macerich in a research report on Tuesday, December 17th. They issued a "hold" rating and a $22.00 price objective on the stock. Finally, Compass Point upped their price objective 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. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $19.30.
Read Our Latest Report on Macerich
Macerich Profile
(
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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