The Macerich Company (NYSE:MAC) Shares Purchased by Y.D. More Investments Ltd

Y.D. More Investments Ltd increased its holdings in shares of The Macerich Company (NYSE:MAC) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,330 shares of the real estate investment trust’s stock after acquiring an additional 745 shares during the quarter. Y.D. More Investments Ltd’s holdings in Macerich were worth $1,255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MAC. Charles Schwab Investment Management Inc. grew its position in Macerich by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,488,816 shares of the real estate investment trust’s stock worth $48,973,000 after purchasing an additional 31,445 shares during the last quarter. Kennedy Capital Management LLC grew its position in Macerich by 0.9% in the 3rd quarter. Kennedy Capital Management LLC now owns 1,540,033 shares of the real estate investment trust’s stock worth $16,802,000 after purchasing an additional 14,131 shares during the last quarter. AQR Capital Management LLC grew its position in Macerich by 1.5% in the 3rd quarter. AQR Capital Management LLC now owns 1,213,677 shares of the real estate investment trust’s stock worth $13,241,000 after purchasing an additional 18,325 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of 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 acquiring an additional 82,113 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Macerich by 15.3% in the third quarter. Invesco Ltd. now owns 579,573 shares of the real estate investment trust’s stock valued at $6,323,000 after acquiring an additional 76,888 shares in the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Stock Performance

NYSE:MAC traded down $0.30 during midday trading on Wednesday, reaching $13.46. The stock had a trading volume of 4,945,818 shares, compared to its average volume of 1,980,561. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $2.90 billion, a P/E ratio of -10.72, a PEG ratio of 1.80 and a beta of 2.33. The firm’s fifty day simple moving average is $16.24 and its 200-day simple moving average is $14.63. The Macerich Company has a 1-year low of $9.05 and a 1-year high of $17.69.

Macerich (NYSE:MAC) last released its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.26). The business had revenue of $238.70 million for 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%. Macerich’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 earnings per share. On average, equities research analysts forecast that The Macerich Company will post 1.8 EPS for the current fiscal year.

Macerich Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend is Friday, May 17th. Macerich’s dividend payout ratio is currently -53.54%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MAC shares. Compass Point reduced their target price on shares of Macerich from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday. Piper Sandler downgraded shares of Macerich from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $17.00 to $11.00 in a research report on Wednesday. The Goldman Sachs Group upped their price target on shares of Macerich from $9.00 to $13.00 and gave the company a “sell” rating in a research report on Thursday, January 11th. Mizuho reduced their price target on shares of Macerich from $17.00 to $14.00 and set an “underperform” rating for the company in a research report on Wednesday. Finally, StockNews.com downgraded shares of Macerich from a “hold” rating to a “sell” rating in a research report on Tuesday. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.83.

Insider Activity at Macerich

In other Macerich news, President Edward C. Coppola sold 50,000 shares of the company’s stock in a transaction 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 directly owns 655,667 shares in the company, valued at $11,277,472.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, President Edward C. Coppola sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total value of $860,000.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Hern Thomas E. O sold 7,964 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $16.39, for a total value of $130,529.96. Following the completion of the transaction, the director now directly owns 197,900 shares of the company’s stock, valued at $3,243,581. The disclosure for this sale can be found here. Insiders sold 172,964 shares of company stock valued at $2,940,030 in the last ninety days. Insiders own 0.53% of the company’s stock.

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.