The Macerich Company (NYSE:MAC) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its position in shares of The Macerich Company (NYSE:MACFree Report) by 54.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,850 shares of the real estate investment trust’s stock after selling 62,635 shares during the quarter. Franklin Resources Inc.’s holdings in Macerich were worth $800,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Macerich by 3.7% during the 4th 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 acquiring an additional 165,649 shares during the last quarter. Kennedy Capital Management LLC lifted 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 valued at $16,802,000 after buying an additional 14,131 shares during the last quarter. Norges Bank acquired a new position in Macerich in the fourth quarter valued at about $22,210,000. AQR Capital Management LLC lifted its position 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 buying an additional 18,325 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in Macerich by 11.0% in 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 buying an additional 82,113 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Mizuho decreased their target price 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 cut shares of Macerich from a “sector perform” rating to a “sector underperform” rating and decreased their target price for the company from $16.00 to $14.00 in a research report on Friday, May 17th. Citigroup raised shares of Macerich from a “sell” rating to a “neutral” rating and upped their target price for the company from $8.00 to $17.00 in a research report on Friday, March 22nd. Compass Point reduced their price target 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. Finally, Piper Sandler cut shares of Macerich from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $17.00 to $11.00 in a research report on Wednesday, May 1st. Five investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $14.71.

Read Our Latest Analysis on MAC

Insider Buying and Selling

In other news, EVP Kenneth Volk bought 5,000 shares of the business’s stock in a transaction that occurred on 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 completion of the purchase, the executive vice president now owns 51,924 shares of the company’s stock, valued at $799,629.60. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Jackson Hsieh purchased 140,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $14.26 per share, for a total transaction of $1,996,400.00. Following the completion of the purchase, the chief executive officer now directly owns 170,500 shares of the company’s stock, valued at approximately $2,431,330. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kenneth Volk purchased 5,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was bought at an average price of $15.40 per share, for a total transaction 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 $799,629.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 163,365 shares of company stock worth $2,358,681 and have sold 122,964 shares worth $2,080,030. Insiders own 0.53% of the company’s stock.

Macerich Stock Down 2.1 %

MAC stock opened at $15.17 on Friday. The company’s 50 day moving average price is $15.52 and its 200 day moving average price is $15.44. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.03 and a current ratio of 1.03. The Macerich Company has a fifty-two week low of $9.21 and a fifty-two week high of $17.69. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of -9.72, a PEG ratio of 3.13 and a beta of 2.43.

Macerich Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were paid 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 dividend yield of 4.48%. Macerich’s payout ratio is -43.59%.

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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