Allianz Asset Management GmbH Sells 108,914 Shares of The Macerich Company (NYSE:MAC)

Allianz Asset Management GmbH lessened its holdings in shares of The Macerich Company (NYSE:MACFree Report) by 28.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 272,231 shares of the real estate investment trust’s stock after selling 108,914 shares during the quarter. Allianz Asset Management GmbH owned about 0.13% of Macerich worth $4,201,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in Macerich by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,654,465 shares of the real estate investment trust’s stock valued at $71,818,000 after purchasing an additional 165,649 shares during the last quarter. Kennedy Capital Management LLC grew its position in Macerich by 0.9% in the third quarter. Kennedy Capital Management LLC now owns 1,540,033 shares of the real estate investment trust’s stock worth $16,802,000 after acquiring an additional 14,131 shares in the last quarter. Norges Bank bought a new position in Macerich in the fourth quarter valued at $22,210,000. AQR Capital Management LLC increased its stake in Macerich by 1.5% in the third quarter. AQR Capital Management LLC now owns 1,213,677 shares of the real estate investment trust’s stock valued at $13,241,000 after acquiring an additional 18,325 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in Macerich by 11.0% during the fourth quarter. Federated Hermes Inc. now owns 825,297 shares of the real estate investment trust’s stock valued at $12,734,000 after purchasing an additional 82,113 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Price Performance

Shares of Macerich stock opened at $15.17 on Friday. The company’s fifty day simple moving average is $15.52 and its two-hundred day simple moving average is $15.44. The Macerich Company has a 12-month low of $9.21 and a 12-month high of $17.69. The firm has a market cap of $3.27 billion, a PE ratio of -9.72, a price-to-earnings-growth ratio of 3.13 and a beta of 2.43. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.81.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, May 17th. This represents a $0.68 dividend on an annualized basis and a yield of 4.48%. Macerich’s dividend payout ratio is presently -43.59%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MAC shares. Citigroup upgraded Macerich from a “sell” rating to a “neutral” rating and increased their price objective for the company from $8.00 to $17.00 in a research report on Friday, March 22nd. Mizuho reduced their price target on shares of Macerich from $17.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, May 1st. Scotiabank lowered shares of Macerich from a “sector perform” rating to a “sector underperform” rating and lowered their price objective for the stock from $16.00 to $14.00 in a report on Friday, May 17th. Piper Sandler cut shares of Macerich from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $17.00 to $11.00 in a research note on Wednesday, May 1st. Finally, Compass Point decreased their target price on shares of Macerich from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.71.

View Our Latest Analysis on Macerich

Insider Buying and Selling at Macerich

In other Macerich news, EVP Kenneth Volk acquired 5,000 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were purchased at an average cost of $15.40 per share, for a total transaction of $77,000.00. Following the transaction, the executive vice president now owns 51,924 shares in the company, valued at $799,629.60. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other Macerich news, EVP Kenneth Volk purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was bought at an average price of $15.40 per share, with a total value of $77,000.00. Following the completion of the purchase, the executive vice president now directly owns 51,924 shares of the company’s stock, valued at approximately $799,629.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward C. Coppola sold 20,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $17.01, for a total transaction of $340,200.00. Following the transaction, the director now directly owns 635,667 shares in the company, valued at $10,812,695.67. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 163,365 shares of company stock valued at $2,358,681 and sold 122,964 shares valued at $2,080,030. 0.53% of the stock is currently owned by corporate insiders.

Macerich 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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Institutional Ownership by Quarter for Macerich (NYSE:MAC)

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