Swiss National Bank Increases Stock Position in The Macerich Company (NYSE:MAC)

Swiss National Bank raised its position in The Macerich Company (NYSE:MAC - Free Report) by 16.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 488,815 shares of the real estate investment trust's stock after acquiring an additional 67,700 shares during the quarter. Swiss National Bank owned approximately 0.20% of Macerich worth $9,737,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Macerich by 68.8% in the 4th quarter. Blue Trust Inc. now owns 2,610 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 1,064 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Macerich by 314.2% in the fourth 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 in the last quarter. GAMMA Investing LLC grew its holdings in shares of 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 purchasing an additional 1,174 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Macerich during the fourth quarter worth about $99,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Macerich during the fourth quarter worth about $212,000. Institutional investors and hedge funds own 87.38% of the company's stock.

Insider Buying and Selling

In related news, Director Andrea M. Stephen sold 63,289 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the transaction, the director now directly owns 83,479 shares in the company, valued at approximately $1,718,832.61. This represents a 43.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by insiders.

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Macerich Stock Performance

NYSE MAC traded down $0.02 on Wednesday, hitting $17.42. 801,065 shares of the company's stock were exchanged, compared to its average volume of 2,124,413. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 44.65, a P/E/G ratio of 0.71 and a beta of 2.62. The firm's 50-day moving average price is $19.18 and its two-hundred day moving average price is $19.16. 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 current ratio of 0.92 and a quick ratio of 0.92.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.17 per share. 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 -86.08%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Jefferies Financial Group upgraded Macerich from a "hold" rating to a "buy" rating and raised their price target for the stock from $19.00 to $23.00 in a research note on Thursday, January 2nd. Piper Sandler cut their target price on shares of Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Macerich in a research report on Tuesday, December 17th. They issued a "hold" rating and a $22.00 price target for the company. Mizuho raised shares of Macerich from an "underperform" rating to a "neutral" rating and raised their price objective for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th. Finally, Scotiabank reduced their target price on shares of Macerich from $22.00 to $21.00 and set a "sector perform" rating for the company in a report on Thursday, March 6th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Macerich has a consensus rating of "Hold" and an average target price of $19.49.

Macerich Company Profile

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.