Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of The Macerich Company (NYSE:MAC - Free Report) by 55.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,348 shares of the real estate investment trust's stock after acquiring an additional 52,275 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Macerich worth $2,915,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Citigroup Inc. boosted its stake in shares of Macerich by 32.3% in the third quarter. Citigroup Inc. now owns 359,069 shares of the real estate investment trust's stock valued at $6,549,000 after purchasing an additional 87,611 shares during the period. Quest Partners LLC increased its holdings in Macerich by 851.9% during the 3rd quarter. Quest Partners LLC now owns 30,529 shares of the real estate investment trust's stock worth $557,000 after purchasing an additional 27,322 shares during the period. Bamco Inc. NY raised its position in Macerich by 742.3% in the 3rd quarter. Bamco Inc. NY now owns 1,695,420 shares of the real estate investment trust's stock valued at $30,924,000 after purchasing an additional 1,494,145 shares in the last quarter. Friedenthal Financial purchased a new position in shares of Macerich in the 4th quarter valued at about $771,000. Finally, Smartleaf Asset Management LLC grew its position in shares of 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 buying an additional 2,630 shares in the last quarter. 87.38% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have issued reports on MAC shares. Deutsche Bank Aktiengesellschaft initiated coverage on Macerich in a report on Tuesday, December 17th. They set a "hold" rating and a $22.00 price target for the company. Mizuho upgraded shares of Macerich from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $14.00 to $22.00 in a research note on Wednesday, December 4th. The Goldman Sachs Group cut their price target on Macerich from $16.70 to $14.40 and set a "sell" rating for the company in a research note on Monday, March 10th. Scotiabank cut their price target 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. Finally, Morgan Stanley upgraded shares of Macerich from an "underweight" rating to an "equal weight" rating and set a $20.00 target price on the stock in a research report on Wednesday, January 15th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Macerich presently has an average rating of "Hold" and an average target price of $19.03.
View Our Latest Stock Analysis on MAC
Insider Activity at Macerich
In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is owned by insiders.
Macerich Trading Up 1.3 %
Shares of NYSE MAC traded up $0.22 during mid-day trading on Wednesday, hitting $17.39. 1,499,364 shares of the company traded hands, compared to its average volume of 2,072,012. 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 Macerich Company has a 1 year low of $12.99 and a 1 year high of $22.27. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 44.59, a PEG ratio of 0.71 and a beta of 2.62. The business has a 50 day moving average of $19.41 and a two-hundred day moving average of $19.10.
Macerich Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend was Tuesday, March 4th. Macerich's dividend payout ratio (DPR) is currently -86.08%.
Macerich Company Profile
(
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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