Inspire Investing LLC lessened its holdings in shares of The Macerich Company (NYSE:MAC – Free Report) by 11.2% during the 4th quarter, HoldingsChannel reports. The firm owned 20,176 shares of the real estate investment trust’s stock after selling 2,555 shares during the period. Inspire Investing LLC’s holdings in Macerich were worth $402,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of MAC. Blue Trust Inc. raised its stake in shares of Macerich by 152.2% in the 3rd quarter. Blue Trust Inc. now owns 1,546 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 933 shares during the period. GAMMA Investing LLC increased its position in shares of Macerich by 40.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,214 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 933 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Macerich in the 2nd quarter valued at approximately $129,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Macerich by 34.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 2,161 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in Macerich by 10.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 11,500 shares of the real estate investment trust’s stock worth $178,000 after acquiring an additional 1,132 shares in the last quarter. 87.38% of the stock is currently owned by institutional investors and hedge funds.
Macerich Price Performance
Macerich stock opened at $20.53 on Monday. The stock has a 50-day moving average price of $20.42 and a two-hundred day moving average price of $18.11. The Macerich Company has a 12 month low of $12.99 and a 12 month high of $22.27. The company has a market capitalization of $5.10 billion, a PE ratio of 52.63, a P/E/G ratio of 0.69 and a beta of 2.51. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.
Macerich Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.31%. The ex-dividend date was Tuesday, November 12th. Macerich’s dividend payout ratio is currently 174.36%.
Insiders Place Their Bets
In other news, Director Andrea M. Stephen sold 63,289 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $20.59, for a total transaction of $1,303,120.51. Following the completion of the transaction, the director now directly owns 83,479 shares in the company, valued at $1,718,832.61. This trade represents a 43.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.53% of the company’s stock.
Wall Street Analysts Forecast Growth
MAC has been the subject of several recent analyst reports. Jefferies Financial Group upgraded shares of Macerich from a “hold” rating to a “buy” rating and raised their target price for the company from $19.00 to $23.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on Macerich in a research note on Tuesday, December 17th. They set a “hold” rating and a $22.00 target price on the stock. Bank of America lifted their price objective on shares of Macerich from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Morgan Stanley raised Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 target price on the stock in a report on Wednesday, January 15th. Finally, Scotiabank raised shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price objective on the stock in a research note on Tuesday, December 17th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Macerich has a consensus rating of “Hold” and an average price target of $19.30.
Check Out Our Latest Analysis on Macerich
Macerich Company Profile
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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