134,653 Shares in The Macerich Company (NYSE:MAC) Bought by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd bought a new position in The Macerich Company (NYSE:MAC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 134,653 shares of the real estate investment trust's stock, valued at approximately $2,682,000. OVERSEA CHINESE BANKING Corp Ltd owned 0.05% of Macerich at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System grew its holdings in shares of Macerich by 13.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 82,684 shares of the real estate investment trust's stock worth $1,647,000 after buying an additional 9,746 shares in the last quarter. Xponance Inc. boosted its position in Macerich by 23.5% during the 4th quarter. Xponance Inc. now owns 17,660 shares of the real estate investment trust's stock worth $352,000 after acquiring an additional 3,356 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Macerich by 11.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 190,163 shares of the real estate investment trust's stock worth $3,788,000 after acquiring an additional 20,164 shares in the last quarter. Cibc World Markets Corp acquired a new stake in shares of Macerich in the fourth quarter valued at approximately $441,000. Finally, Corient Private Wealth LLC bought a new stake in shares of Macerich in the fourth quarter worth $273,000. Institutional investors own 87.38% of the company's stock.

Macerich Stock Performance

MAC traded up $0.58 during trading on Monday, hitting $17.79. The stock had a trading volume of 1,682,832 shares, compared to its average volume of 1,842,348. 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 company has a 50 day moving average price of $19.25 and a 200-day moving average price of $19.13. The Macerich Company has a one year low of $12.99 and a one year high of $22.27. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 45.62, a P/E/G ratio of 0.71 and a beta of 2.62.

Remove Ads

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend was Tuesday, March 4th. Macerich's dividend payout ratio is currently -86.08%.

Insiders Place Their Bets

In related news, Director Andrea M. Stephen sold 63,289 shares of the business'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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a research report on Monday, March 10th. The Goldman Sachs Group lowered their price target on Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research report on Monday, March 10th. Piper Sandler dropped their price objective on Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Macerich in a research note on Tuesday, December 17th. They issued a "hold" rating and a $22.00 target price for the company. Finally, Jefferies Financial Group raised shares of Macerich from a "hold" rating to a "buy" rating and lifted their price objective for the company 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 given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Macerich has a consensus rating of "Hold" and a consensus price target of $19.20.

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.