Charles Schwab Investment Management Inc. raised its stake in shares of The Macerich Company (NYSE:MAC - Free Report) by 7.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,171,300 shares of the real estate investment trust's stock after buying an additional 369,931 shares during the period. Charles Schwab Investment Management Inc. owned about 2.08% of Macerich worth $103,012,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of MAC. Blue Trust Inc. grew its stake 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 increased its stake in shares of 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 valued at $69,000 after acquiring an additional 2,630 shares during the last quarter. GAMMA Investing LLC lifted 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 worth $87,000 after acquiring an additional 1,174 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Macerich during the 4th quarter worth approximately $99,000. Finally, Sanctuary Advisors LLC bought a new stake in Macerich in the 4th quarter valued at $212,000. 87.38% of the stock is owned by institutional investors and hedge funds.
Macerich Trading Up 1.7 %
NYSE:MAC traded up $0.27 during midday trading on Tuesday, hitting $16.15. 1,910,213 shares of the company traded hands, compared to its average volume of 1,798,664. 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 firm has a market capitalization of $4.08 billion, a P/E ratio of 41.33, a P/E/G ratio of 0.71 and a beta of 2.62. The Macerich Company has a 12-month low of $12.99 and a 12-month high of $22.27. The firm's fifty day moving average is $19.92 and its 200-day moving average is $19.05.
Macerich Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.17 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.21%. Macerich's payout ratio is -86.08%.
Insiders Place Their Bets
In other news, Director Andrea M. Stephen sold 63,289 shares of Macerich stock in a transaction that occurred 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 sale, the director now directly owns 83,479 shares of the company's stock, valued at $1,718,832.61. The trade was a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.53% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on MAC. Piper Sandler dropped their price objective on Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a research note on Friday, February 28th. Jefferies Financial Group raised shares of Macerich from a "hold" rating to a "buy" rating and upped their price target for the stock from $19.00 to $23.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. reduced 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. The Goldman Sachs Group cut their target price on Macerich from $16.70 to $14.40 and set a "sell" rating on the stock in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Macerich in a research note on Tuesday, December 17th. They set a "hold" rating and a $22.00 price target on the stock. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $19.03.
Read Our Latest Research Report on Macerich
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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