Wolverine Asset Management LLC Acquires 6,327 Shares of The Macerich Company (NYSE:MAC)

Wolverine Asset Management LLC lifted its holdings in shares of The Macerich Company (NYSE:MAC) by 48.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 19,424 shares of the real estate investment trust’s stock after purchasing an additional 6,327 shares during the period. Wolverine Asset Management LLC’s holdings in Macerich were worth $300,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Signaturefd LLC grew its holdings in Macerich by 152.4% in the 4th quarter. Signaturefd LLC now owns 2,166 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,308 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Macerich in the 3rd quarter worth $36,000. Anchor Investment Management LLC bought a new stake in Macerich in the 4th quarter worth $40,000. CWM LLC grew its holdings in 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 during the last quarter. Finally, GAMMA Investing LLC bought a new stake in Macerich in the 4th quarter worth $90,000. Institutional investors own 87.38% of the company’s stock.

Macerich Stock Performance

Shares of MAC opened at $15.67 on Friday. The firm’s 50-day moving average price is $16.33 and its 200-day moving average price is $14.53. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.67. The Macerich Company has a 1-year low of $9.05 and a 1-year high of $17.69.

Macerich (NYSE:MAC) last issued its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.26). Macerich had a negative net margin of 31.00% and a negative return on equity of 10.26%. The business had revenue of $238.70 million for the quarter, compared to analysts’ expectations of $224.49 million. During the same period last year, the business earned $0.53 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. As a group, equities analysts expect that The Macerich Company will post 1.8 earnings per share for the current year.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $0.68 dividend on an annualized basis and a yield of 4.34%. Macerich’s dividend payout ratio (DPR) is currently -53.54%.

Analyst Ratings Changes

MAC has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised their price target on shares of Macerich from $9.00 to $13.00 and gave the stock a “sell” rating in a report on Thursday, January 11th. Citigroup raised shares of Macerich from a “sell” rating to a “neutral” rating and lifted their target price for the company from $8.00 to $17.00 in a research note on Friday, March 22nd. Truist Financial reaffirmed a “hold” rating and set a $16.00 target price on shares of Macerich in a research note on Monday, March 25th. Finally, StockNews.com lowered shares of Macerich from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.40.

Insider Activity at Macerich

In related news, President Edward C. Coppola sold 50,000 shares of Macerich stock in a transaction dated 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 transaction, the president now directly owns 655,667 shares of the company’s stock, valued at approximately $11,277,472.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Macerich news, President Edward C. Coppola sold 50,000 shares of Macerich stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $17.20, for a total value of $860,000.00. Following the completion of the transaction, the president now directly owns 655,667 shares of the company’s stock, valued at $11,277,472.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward C. Coppola sold 20,000 shares of Macerich stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $17.01, for a total transaction of $340,200.00. Following the completion of the transaction, the director now directly owns 635,667 shares of the company’s stock, valued at $10,812,695.67. The disclosure for this sale can be found here. Insiders sold a total of 172,964 shares of company stock valued at $2,940,030 in the last three months. Company insiders own 0.57% of the company’s stock.

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.