Plancorp LLC Sells 16,300 Shares of The Macerich Company (NYSE:MAC)

Plancorp LLC reduced its stake in shares of The Macerich Company (NYSE:MAC - Free Report) by 33.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,549 shares of the real estate investment trust's stock after selling 16,300 shares during the period. Plancorp LLC's holdings in Macerich were worth $648,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Quantbot Technologies LP bought a new stake in Macerich in the fourth quarter worth approximately $30,000. Blue Trust Inc. boosted its holdings 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 worth $48,000 after purchasing an additional 1,064 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Macerich by 314.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock worth $69,000 after buying an additional 2,630 shares during the last quarter. GAMMA Investing LLC raised its holdings in 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 in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Macerich in the fourth quarter worth about $99,000. 87.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MAC has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on Macerich in a research note on Tuesday, December 17th. They issued a "hold" rating and a $22.00 price objective on the stock. Scotiabank dropped their target price on shares of Macerich from $22.00 to $21.00 and set a "sector perform" rating on the stock in a report on Thursday, March 6th. Morgan Stanley raised Macerich from an "underweight" rating to an "equal weight" rating and set a $20.00 price target on the stock in a research report on Wednesday, January 15th. The Goldman Sachs Group cut their price objective on Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research report on Monday, March 10th. Finally, Piper Sandler lowered their target price on Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a report on Friday, February 28th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $19.49.

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Macerich Price Performance

Shares of MAC stock traded down $0.09 during mid-day trading on Thursday, reaching $17.32. The company's stock had a trading volume of 1,368,886 shares, compared to its average volume of 1,839,642. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.92 and a current ratio of 0.92. The firm's 50-day moving average is $19.13 and its two-hundred day moving average is $19.15. The Macerich Company has a 1-year low of $12.99 and a 1-year high of $22.27. The company has a market cap of $4.37 billion, a P/E ratio of 44.40, a PEG ratio of 0.71 and a beta of 2.62.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.93%. The ex-dividend date was Tuesday, March 4th. Macerich's dividend payout ratio is -86.08%.

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.