Proficio Capital Partners LLC bought a new position in shares of The Macerich Company (NYSE:MAC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 33,227 shares of the real estate investment trust's stock, valued at approximately $662,000.
A number of other institutional investors have also recently modified their holdings of the business. Citigroup Inc. boosted its position in 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 purchasing an additional 87,611 shares in the last quarter. Quest Partners LLC lifted its position in shares of Macerich by 851.9% during the 3rd quarter. Quest Partners LLC now owns 30,529 shares of the real estate investment trust's stock valued at $557,000 after buying an additional 27,322 shares in the last quarter. Bamco Inc. NY grew its stake in Macerich by 742.3% in the 3rd quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust's stock valued at $30,924,000 after acquiring an additional 1,494,145 shares during the period. Friedenthal Financial acquired a new stake in Macerich in the 4th quarter valued at $771,000. Finally, Smartleaf Asset Management LLC increased its holdings in Macerich by 314.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,467 shares of the real estate investment trust's stock worth $69,000 after acquiring an additional 2,630 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, Director Andrea M. Stephen sold 63,289 shares of the firm's stock in a transaction that occurred on Thursday, December 26th. The shares were 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 approximately $1,718,832.61. This trade represents a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company's stock.
Analysts Set New Price Targets
Several analysts have recently issued reports on the stock. 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 target price on the stock. Jefferies Financial Group upgraded Macerich from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. Mizuho raised Macerich from an "underperform" rating to a "neutral" rating and increased their target price for the company from $14.00 to $22.00 in a report on Wednesday, December 4th. 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 note on Wednesday, January 15th. Finally, Piper Sandler reduced their price objective on Macerich from $17.00 to $16.00 and set an "underweight" rating for the company in a research note on Friday, February 28th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Macerich has an average rating of "Hold" and an average price target of $19.20.
Check Out Our Latest Report on Macerich
Macerich Trading Down 2.3 %
NYSE:MAC traded down $0.41 on Tuesday, hitting $17.39. The stock had a trading volume of 1,378,991 shares, compared to its average volume of 1,845,684. The company has a fifty day moving average price of $19.18 and a two-hundred day moving average price of $19.16. The Macerich Company has a 1-year low of $12.99 and a 1-year high of $22.27. 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 has a market cap of $4.39 billion, a price-to-earnings ratio of 44.59, a PEG ratio of 0.71 and a beta of 2.62.
Macerich Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were given a $0.17 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a yield of 3.91%. Macerich's dividend payout ratio is currently -86.08%.
About Macerich
(
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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