Nicola Wealth Management LTD. Purchases Shares of 39,884 The Macerich Company (NYSE:MAC)

Nicola Wealth Management LTD. purchased a new stake in shares of The Macerich Company (NYSE:MAC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 39,884 shares of the real estate investment trust's stock, valued at approximately $794,000.

A number of other hedge funds have also modified their holdings of MAC. Blue Trust Inc. grew its stake in Macerich by 68.8% in the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock valued at $48,000 after purchasing an additional 1,064 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings 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. GAMMA Investing LLC grew its stake in shares of Macerich by 36.5% in the 4th 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 in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Macerich in the fourth quarter worth approximately $99,000. Finally, 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 valued at $150,000 after acquiring an additional 2,161 shares in the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.

Macerich Stock Performance

MAC stock traded down $0.73 on Friday, reaching $16.87. 2,176,728 shares of the company were exchanged, compared to its average volume of 1,790,265. The firm has a market capitalization of $4.26 billion, a PE ratio of 43.24, a PEG ratio of 0.71 and a beta of 2.62. The Macerich Company has a 12 month low of $12.99 and a 12 month high of $22.27. The stock's fifty day moving average price is $19.98 and its 200 day moving average price is $18.98. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.92 and a quick ratio of 0.92.

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Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date is Tuesday, March 4th. Macerich's dividend payout ratio is currently -86.08%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Jefferies Financial Group upgraded shares of Macerich from a "hold" rating to a "buy" rating and increased their price target for the stock from $19.00 to $23.00 in a research note on Thursday, January 2nd. Piper Sandler lowered their target price on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a research report on Friday, February 28th. Scotiabank reduced their price target on Macerich from $22.00 to $21.00 and set a "sector perform" rating for the company in a research report on Thursday. Morgan Stanley raised Macerich from an "underweight" rating to an "equal weight" rating and set a $20.00 price objective on the stock in a report on Wednesday, January 15th. Finally, StockNews.com lowered Macerich from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. Three 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. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $19.13.

Insider Activity at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at $1,718,832.61. This represents a 43.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is owned by corporate insiders.

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.