SG Americas Securities LLC Sells 236,665 Shares of The Macerich Company (NYSE:MAC)

SG Americas Securities LLC reduced its stake in The Macerich Company (NYSE:MAC - Free Report) by 90.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,323 shares of the real estate investment trust's stock after selling 236,665 shares during the period. SG Americas Securities LLC's holdings in Macerich were worth $524,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Blue Trust Inc. lifted its position in Macerich by 152.2% during the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust's stock valued at $28,000 after acquiring an additional 933 shares during the period. GAMMA Investing LLC increased its stake in shares of Macerich by 40.9% during the third quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 933 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Macerich during the second quarter valued at approximately $129,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Macerich by 34.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust's stock worth $150,000 after purchasing an additional 2,161 shares in the last quarter. Finally, Townsquare Capital LLC grew its stake in shares of Macerich by 7.2% in the 3rd quarter. Townsquare Capital LLC now owns 13,448 shares of the real estate investment trust's stock worth $245,000 after buying an additional 902 shares during the last quarter. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Andrea M. Stephen sold 63,289 shares of the company's stock in a transaction 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 $1,718,832.61. This represents a 43.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.53% of the company's stock.

Macerich Stock Performance

MAC stock traded down $0.13 on Tuesday, hitting $20.32. The company had a trading volume of 1,614,081 shares, compared to its average volume of 1,703,431. The stock has a market cap of $5.05 billion, a price-to-earnings ratio of 52.11, a P/E/G ratio of 0.72 and a beta of 2.50. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68. The stock's 50-day simple moving average is $20.52 and its 200 day simple moving average is $18.35. The Macerich Company has a 12-month low of $12.99 and a 12-month high of $22.27.

Macerich (NYSE:MAC - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.50) EPS for the quarter, missing the consensus estimate of $0.40 by ($0.90). The firm had revenue of $220.20 million during the quarter, compared to the consensus estimate of $208.54 million. Macerich had a return on equity of 3.15% and a net margin of 8.98%. The business's revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 EPS. As a group, equities research analysts expect that The Macerich Company will post 1.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MAC has been the subject of a number of recent research reports. Bank of America lifted their price objective on Macerich from $17.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, October 11th. Scotiabank raised Macerich from a "sector underperform" rating to a "sector perform" rating and set a $22.00 price target for the company in a research report on Tuesday, December 17th. Compass Point upped their price target on shares of Macerich from $20.00 to $23.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Piper Sandler raised their price objective on shares of Macerich from $14.00 to $17.00 and gave the company an "underweight" rating in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group raised shares of Macerich from a "hold" rating to a "buy" rating and lifted their target price for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $19.30.

About Macerich

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.