The Macerich Company (NYSE:MAC) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC decreased its holdings in The Macerich Company (NYSE:MAC) by 37.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,184 shares of the real estate investment trust’s stock after selling 22,753 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Macerich were worth $590,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MAC. DekaBank Deutsche Girozentrale raised its stake in shares of Macerich by 158.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 131,487 shares of the real estate investment trust’s stock valued at $2,201,000 after purchasing an additional 80,541 shares in the last quarter. Murphy Pohlad Asset Management LLC boosted its holdings in Macerich by 297.7% in the second quarter. Murphy Pohlad Asset Management LLC now owns 110,560 shares of the real estate investment trust’s stock worth $1,707,000 after purchasing an additional 82,760 shares during the period. Jessup Wealth Management Inc bought a new stake in Macerich during the first quarter valued at $7,222,000. Vanguard Group Inc. lifted its position in shares of Macerich by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 34,478,278 shares of the real estate investment trust’s stock worth $532,000,000 after buying an additional 336,251 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its holdings in shares of Macerich by 82.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 112,724 shares of the real estate investment trust’s stock valued at $1,942,000 after buying an additional 50,989 shares during the period. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Macerich Price Performance

Shares of NYSE:MAC traded down $0.06 on Wednesday, reaching $14.80. 68,011 shares of the company traded hands, compared to its average volume of 1,847,445. The stock has a market capitalization of $3.19 billion, a PE ratio of -9.54, a P/E/G ratio of 0.51 and a beta of 2.51. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.86 and a quick ratio of 1.03. The company’s 50 day moving average is $15.20 and its 200-day moving average is $15.69. The Macerich Company has a fifty-two week low of $9.21 and a fifty-two week high of $17.69.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Monday, August 19th will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.59%. Macerich’s dividend payout ratio (DPR) is -43.59%.

Analyst Ratings Changes

A number of brokerages have commented on MAC. The Goldman Sachs Group decreased their target price on Macerich from $14.00 to $12.50 and set a “sell” rating for the company in a research note on Monday, June 17th. Mizuho dropped their price objective on shares of Macerich from $17.00 to $14.00 and set an “underperform” rating on the stock in a report on Wednesday, May 1st. StockNews.com raised shares of Macerich from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Scotiabank lowered shares of Macerich from a “sector perform” rating to a “sector underperform” rating and dropped their price target for the company from $16.00 to $14.00 in a research note on Friday, May 17th. Finally, Compass Point decreased their price objective on Macerich from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Macerich presently has an average rating of “Hold” and a consensus price target of $14.64.

Macerich 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.