Mraz Amerine & Associates Inc. Sells 4,786 Shares of The Macerich Company (NYSE:MAC)

Mraz Amerine & Associates Inc. decreased its stake in The Macerich Company (NYSE:MAC) by 11.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,753 shares of the real estate investment trust’s stock after selling 4,786 shares during the period. Mraz Amerine & Associates Inc.’s holdings in Macerich were worth $583,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Macerich by 7.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,648 shares of the real estate investment trust’s stock worth $1,368,000 after buying an additional 6,109 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Macerich by 5.6% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 254,100 shares of the real estate investment trust’s stock worth $3,921,000 after buying an additional 13,420 shares during the last quarter. Phocas Financial Corp. increased its holdings in shares of Macerich by 52.1% in the 4th quarter. Phocas Financial Corp. now owns 412,418 shares of the real estate investment trust’s stock worth $6,364,000 after buying an additional 141,356 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Macerich in the 4th quarter worth $1,663,000. Finally, Cerity Partners LLC purchased a new stake in shares of Macerich in the 4th quarter valued at $207,000. Institutional investors own 87.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MAC. Truist Financial reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Macerich in a research note on Monday, March 25th. The Goldman Sachs Group upped their price objective on shares of Macerich from $9.00 to $13.00 and gave the company a “sell” rating in a research note on Thursday, January 11th. StockNews.com raised shares of Macerich from a “sell” rating to a “hold” rating in a research note on Tuesday, March 12th. Piper Sandler upped their price objective on shares of Macerich from $12.00 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, December 20th. Finally, Citigroup raised shares of Macerich from a “sell” rating to a “neutral” rating and increased their price target for the company from $8.00 to $17.00 in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $14.40.

Macerich Trading Down 2.6 %

NYSE MAC traded down $0.41 during trading on Wednesday, hitting $15.38. The company had a trading volume of 1,608,319 shares, compared to its average volume of 1,938,026. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.67. The Macerich Company has a one year low of $9.05 and a one year high of $17.69. The company has a market cap of $3.32 billion, a price-to-earnings ratio of -12.11, a price-to-earnings-growth ratio of 1.79 and a beta of 2.33. The company’s fifty day moving average is $16.54 and its 200-day moving average is $14.31.

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 the consensus estimate of $0.55 by ($0.26). The business had revenue of $238.70 million during the quarter, compared to the consensus estimate of $224.49 million. Macerich had a negative return on equity of 10.26% and a negative net margin of 31.00%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 earnings per share. On average, sell-side analysts predict that The Macerich Company will post 1.81 earnings per share for the current year.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Friday, February 16th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date was Thursday, February 15th. Macerich’s payout ratio is presently -53.54%.

Insider Buying and Selling

In related news, President Edward C. Coppola sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $17.20, for a total value of $860,000.00. Following the transaction, the president now owns 655,667 shares of the company’s stock, valued at $11,277,472.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Macerich news, Director Hern Thomas E. O sold 95,000 shares of Macerich stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $16.94, for a total transaction of $1,609,300.00. Following the transaction, the director now owns 102,900 shares of the company’s stock, valued at $1,743,126. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Edward C. Coppola sold 50,000 shares of Macerich stock in a transaction that occurred 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 transaction, the president now directly owns 655,667 shares in the company, valued at approximately $11,277,472.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 172,964 shares of company stock valued at $2,940,030. 0.57% of the stock is owned by insiders.

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.