Koss Olinger Consulting LLC Sells 16,709 Shares of The Macerich Company (NYSE:MAC)

Koss Olinger Consulting LLC decreased its position in shares of The Macerich Company (NYSE:MAC - Free Report) by 22.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,134 shares of the real estate investment trust's stock after selling 16,709 shares during the period. Koss Olinger Consulting LLC's holdings in Macerich were worth $1,158,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smead Capital Management Inc. raised its position in shares of Macerich by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 20,433,449 shares of the real estate investment trust's stock valued at $372,706,000 after purchasing an additional 688,790 shares during the period. FMR LLC raised its holdings in Macerich by 12,475.9% during the third quarter. FMR LLC now owns 11,772,891 shares of the real estate investment trust's stock valued at $214,738,000 after acquiring an additional 11,679,276 shares during the period. Geode Capital Management LLC lifted its position in shares of Macerich by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,426,909 shares of the real estate investment trust's stock valued at $99,004,000 after acquiring an additional 34,982 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Macerich by 7.7% in the fourth 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 acquiring an additional 369,931 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of Macerich by 10.0% during the fourth quarter. Fisher Asset Management LLC now owns 3,295,553 shares of the real estate investment trust's stock worth $65,647,000 after purchasing an additional 299,812 shares in the last quarter. Institutional investors own 87.38% of the company's stock.

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Insider Activity at Macerich

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is currently owned by insiders.

Macerich Trading Down 0.1 %

NYSE:MAC traded down $0.02 during midday trading on Friday, hitting $17.27. 5,595,094 shares of the company traded hands, compared to its average volume of 1,842,989. The firm has a market capitalization of $4.36 billion, a P/E ratio of 44.27, a P/E/G ratio of 0.71 and a beta of 2.62. The firm's fifty day moving average is $19.25 and its 200-day moving average is $19.11. The Macerich Company has a 12-month low of $12.99 and a 12-month high of $22.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Tuesday, March 4th were paid 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 3.94%. Macerich's dividend payout ratio is presently -86.08%.

Wall Street Analyst Weigh In

A number of research firms recently commented on MAC. Piper Sandler lowered their price target on Macerich from $17.00 to $16.00 and set an "underweight" rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. dropped their target price on shares of Macerich from $22.00 to $18.00 and set an "underweight" rating for the company in a research report on Monday, March 10th. Scotiabank reduced their price target on shares of Macerich from $22.00 to $21.00 and set a "sector perform" rating on the stock in a report on Thursday, March 6th. Jefferies Financial Group raised shares of Macerich from a "hold" rating to a "buy" rating and increased their price objective for the company from $19.00 to $23.00 in a report on Thursday, January 2nd. Finally, Mizuho raised Macerich from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $14.00 to $22.00 in a report on Wednesday, December 4th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $19.20.

Macerich 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.