Proficio Capital Partners LLC bought a new position in shares of The Macerich Company (NYSE:MAC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 33,227 shares of the real estate investment trust's stock, valued at approximately $662,000.
Other hedge funds have also added to or reduced their stakes in the company. M&T Bank Corp lifted its position in Macerich by 2.8% during the 4th quarter. M&T Bank Corp now owns 20,228 shares of the real estate investment trust's stock worth $403,000 after buying an additional 543 shares in the last quarter. Atria Investments Inc raised its holdings in Macerich by 1.0% during the fourth quarter. Atria Investments Inc now owns 124,907 shares of the real estate investment trust's stock worth $2,488,000 after acquiring an additional 1,179 shares in the last quarter. Victory Capital Management Inc. boosted its position in Macerich by 2.2% during the fourth quarter. Victory Capital Management Inc. now owns 90,988 shares of the real estate investment trust's stock valued at $1,812,000 after purchasing an additional 1,930 shares during the last quarter. Nicola Wealth Management LTD. bought a new position in Macerich in the fourth quarter valued at approximately $794,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Macerich by 7.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,171,300 shares of the real estate investment trust's stock worth $103,012,000 after purchasing an additional 369,931 shares during the last quarter. Institutional investors own 87.38% of the company's stock.
Insider Activity at Macerich
In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of Macerich stock in a transaction dated 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 sale, the director now owns 83,479 shares in the company, valued at $1,718,832.61. The trade was a 43.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the stock. The Goldman Sachs Group decreased their target price on shares of Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research note on Monday, March 10th. Scotiabank decreased their price objective on shares of Macerich from $22.00 to $21.00 and set a "sector perform" rating for the company in a research report on Thursday, March 6th. Mizuho raised shares of Macerich from an "underperform" rating to a "neutral" rating and upped their target price for the company from $14.00 to $22.00 in a report on Wednesday, December 4th. Morgan Stanley upgraded shares of Macerich from an "underweight" rating to an "equal weight" rating and set a $20.00 target price for the company in a research note on Wednesday, January 15th. Finally, Jefferies Financial Group raised Macerich from a "hold" rating to a "buy" rating and boosted their price target for the stock from $19.00 to $23.00 in a research report on Thursday, January 2nd. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $19.49.
Read Our Latest Stock Analysis on Macerich
Macerich Stock Performance
NYSE:MAC traded down $0.02 during mid-day trading on Wednesday, hitting $17.42. 801,065 shares of the stock were exchanged, compared to its average volume of 1,839,537. The firm's 50-day simple moving average is $19.18 and its 200 day simple moving average is $19.16. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 44.65, a price-to-earnings-growth ratio of 0.71 and a beta of 2.62. The Macerich Company has a fifty-two week low of $12.99 and a fifty-two week high of $22.27. 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 Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders 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 dividend yield of 3.90%. Macerich's payout ratio is presently -86.08%.
Macerich Profile
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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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