Federated Hermes Inc. Has $12.73 Million Stock Position in The Macerich Company (NYSE:MAC)

Federated Hermes Inc. raised its stake in shares of The Macerich Company (NYSE:MAC) by 11.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 825,297 shares of the real estate investment trust’s stock after purchasing an additional 82,113 shares during the quarter. Federated Hermes Inc. owned 0.38% of Macerich worth $12,734,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. CWM LLC boosted its holdings in shares of Macerich by 51.0% in the 3rd quarter. CWM LLC now owns 5,409 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 1,826 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Macerich by 642.9% in the 3rd quarter. SG Americas Securities LLC now owns 115,705 shares of the real estate investment trust’s stock worth $1,262,000 after acquiring an additional 100,131 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Macerich by 36.5% in the 3rd quarter. Raymond James & Associates now owns 24,651 shares of the real estate investment trust’s stock worth $269,000 after acquiring an additional 6,588 shares in the last quarter. Vert Asset Management LLC boosted its holdings in shares of Macerich by 3.9% in the 3rd quarter. Vert Asset Management LLC now owns 87,870 shares of the real estate investment trust’s stock worth $959,000 after acquiring an additional 3,328 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Macerich by 6.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,539 shares of the real estate investment trust’s stock worth $900,000 after acquiring an additional 5,301 shares in the last quarter. 87.38% of the stock is owned by institutional investors and hedge funds.

Macerich Trading Up 2.9 %

NYSE:MAC opened at $16.15 on Wednesday. The stock’s fifty day moving average price is $16.44 and its two-hundred day moving average price is $14.44. The Macerich Company has a 52-week low of $9.05 and a 52-week high of $17.69. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.67.

Macerich (NYSE:MAC) last issued its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.26). The business had revenue of $238.70 million for the quarter, compared to the consensus estimate of $224.49 million. Macerich had a negative net margin of 31.00% and a negative return on equity of 10.26%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 EPS. On average, research analysts forecast that The Macerich Company will post 1.8 EPS for the current year.

Macerich Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Friday, February 16th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend was Thursday, February 15th. Macerich’s payout ratio is -53.54%.

Insider Buying and Selling at Macerich

In other Macerich news, President Edward C. Coppola sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $17.20, for a total transaction of $860,000.00. Following the completion of the sale, the president now owns 655,667 shares in the company, valued at approximately $11,277,472.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Hern Thomas E. O sold 7,964 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $16.39, for a total value of $130,529.96. Following the completion of the sale, the director now owns 197,900 shares in the company, valued at approximately $3,243,581. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Edward C. Coppola sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $17.20, for a total transaction of $860,000.00. Following the completion of the sale, the president now owns 655,667 shares of the company’s stock, valued at approximately $11,277,472.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 172,964 shares of company stock worth $2,940,030. Insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. The Goldman Sachs Group boosted their target price on Macerich from $9.00 to $13.00 and gave the stock a “sell” rating in a report on Thursday, January 11th. StockNews.com downgraded Macerich from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Truist Financial reaffirmed a “hold” rating and set a $16.00 price objective on shares of Macerich in a report on Monday, March 25th. Finally, Citigroup raised Macerich from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $8.00 to $17.00 in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat, Macerich presently has a consensus rating of “Hold” and an average target price of $14.40.

About Macerich

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.