Summit Financial LLC purchased a new stake in shares of The Macerich Company (NYSE:MAC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,547 shares of the real estate investment trust's stock, valued at approximately $549,000.
A number of other hedge funds have also recently bought and sold shares of the stock. Quantbot Technologies LP bought a new stake in shares of Macerich during the 4th quarter worth approximately $30,000. Blue Trust Inc. increased its holdings in Macerich by 68.8% during the fourth quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock worth $48,000 after buying an additional 1,064 shares during the last quarter. Smartleaf Asset Management LLC raised 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 acquiring an additional 2,630 shares in the last quarter. GAMMA Investing LLC lifted its stake in Macerich by 36.5% in the fourth quarter. GAMMA Investing LLC now owns 4,388 shares of the real estate investment trust's stock valued at $87,000 after acquiring an additional 1,174 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Macerich in the fourth quarter valued at $99,000. 87.38% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on MAC shares. JPMorgan Chase & Co. lowered their price objective on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating on the stock in a research note on Monday, March 10th. The Goldman Sachs Group dropped their price objective on Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research note on Monday, March 10th. Scotiabank cut their price objective on Macerich from $22.00 to $21.00 and set a "sector perform" rating for the company in a research report on Thursday, March 6th. Morgan Stanley decreased their target price on Macerich from $20.00 to $19.00 and set an "equal weight" rating on the stock in a report on Tuesday. Finally, Piper Sandler dropped their price target on Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a research note on Friday, February 28th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $19.37.
View Our Latest Research Report on MAC
Macerich Stock Performance
Shares of MAC traded down $1.08 during midday trading on Friday, reaching $14.52. 5,000,596 shares of the stock were exchanged, compared to its average volume of 1,933,941. 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's 50 day simple moving average is $18.67 and its 200 day simple moving average is $19.16. The Macerich Company has a twelve month low of $12.99 and a twelve month high of $22.27. The company has a market cap of $3.67 billion, a P/E ratio of 37.23, a PEG ratio of 0.71 and a beta of 2.17.
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 issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 4.68%. Macerich's dividend payout ratio is presently -86.08%.
Macerich Company 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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