The Macerich Company (NYSE:MAC) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. cut its stake in The Macerich Company (NYSE:MAC – Get Rating) by 16.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,648 shares of the real estate investment trust’s stock after selling 3,176 shares during the period. Shell Asset Management Co.’s holdings in Macerich were worth $176,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new stake in shares of Macerich during the second quarter valued at about $29,000. Wipfli Financial Advisors LLC bought a new stake in shares of Macerich during the third quarter valued at about $55,000. Verdence Capital Advisors LLC bought a new stake in shares of Macerich during the third quarter valued at about $79,000. Landscape Capital Management L.L.C. acquired a new position in Macerich during the third quarter worth about $81,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Macerich during the second quarter worth about $90,000. 80.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on MAC. The Goldman Sachs Group began coverage on Macerich in a report on Tuesday, March 21st. They set a “sell” rating and a $8.50 target price on the stock. StockNews.com lowered Macerich from a “hold” rating to a “sell” rating in a report on Saturday, April 1st. Finally, Piper Sandler lowered their target price on Macerich from $11.00 to $9.00 in a report on Friday, May 5th. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $12.00.

Macerich Trading Up 2.4 %

Shares of MAC opened at $9.71 on Thursday. The business’s 50-day moving average price is $10.16 and its 200 day moving average price is $11.57. The stock has a market capitalization of $2.09 billion, a P/E ratio of -24.27, a P/E/G ratio of 1.78 and a beta of 2.10. The Macerich Company has a 1-year low of $7.40 and a 1-year high of $14.51. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50.

Macerich Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Friday, May 19th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $0.68 dividend on an annualized basis and a yield of 7.00%. Macerich’s payout ratio is presently -170.00%.

Macerich Profile

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Macerich Co operates as a real estate investment trust, which engages in the acquisition, ownership, development, redevelopment, management, and leasing of regional and community shopping centers located throughout the United States. The company was founded by Mace Siegel Dana K. Anderson, Arthur M. Coppola and Edward C.