Advisors Asset Management Inc. Has $810,000 Stake in The Macerich Company (NYSE:MAC)

Advisors Asset Management Inc. trimmed its position in shares of The Macerich Company (NYSE:MACGet Rating) by 6.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,948 shares of the real estate investment trust’s stock after selling 5,938 shares during the quarter. Advisors Asset Management Inc.’s holdings in Macerich were worth $810,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. State Street Corp grew its holdings in Macerich by 13.0% during the first quarter. State Street Corp now owns 12,904,044 shares of the real estate investment trust’s stock worth $201,819,000 after buying an additional 1,482,622 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Macerich by 20.8% during the first quarter. JPMorgan Chase & Co. now owns 10,020,806 shares of the real estate investment trust’s stock worth $156,724,000 after buying an additional 1,727,483 shares in the last quarter. Prudential Financial Inc. grew its holdings in Macerich by 1,536.8% during the first quarter. Prudential Financial Inc. now owns 4,783,022 shares of the real estate investment trust’s stock worth $74,806,000 after buying an additional 4,490,809 shares in the last quarter. Letko Brosseau & Associates Inc. grew its holdings in Macerich by 44.6% during the first quarter. Letko Brosseau & Associates Inc. now owns 3,037,095 shares of the real estate investment trust’s stock worth $47,500,000 after buying an additional 937,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Macerich by 2.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,811,265 shares of the real estate investment trust’s stock worth $43,969,000 after buying an additional 76,691 shares in the last quarter. Institutional investors own 83.33% of the company’s stock.

Insider Buying and Selling

In related news, insider Ann C. Menard acquired 2,797 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The shares were acquired at an average price of $8.94 per share, with a total value of $25,005.18. Following the acquisition, the insider now owns 14,494 shares of the company’s stock, valued at approximately $129,576.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Macerich news, CFO Scott W. Kingsmore purchased 4,000 shares of the stock in a transaction on Monday, September 26th. The shares were purchased at an average price of $7.54 per share, with a total value of $30,160.00. Following the acquisition, the chief financial officer now directly owns 36,310 shares in the company, valued at approximately $273,777.40. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ann C. Menard purchased 2,797 shares of the stock in a transaction on Monday, September 19th. The stock was acquired at an average cost of $8.94 per share, for a total transaction of $25,005.18. Following the acquisition, the insider now owns 14,494 shares in the company, valued at $129,576.36. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 104,617 shares of company stock valued at $853,909. Corporate insiders own 1.77% of the company’s stock.

Wall Street Analyst Weigh In

MAC has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on Macerich in a research note on Wednesday, October 12th. They issued a “sell” rating for the company. Mizuho reduced their price objective on Macerich from $18.00 to $10.00 and set an “underperform” rating for the company in a research note on Wednesday, August 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on Macerich from $17.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, October 4th. Piper Sandler upped their price objective on Macerich to $9.00 in a research note on Wednesday. Finally, Evercore ISI reduced their price objective on Macerich from $13.00 to $11.00 and set an “in-line” rating for the company in a research note on Tuesday, September 27th. Seven equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Macerich presently has a consensus rating of “Hold” and an average target price of $12.86.

Macerich Stock Up 2.2 %

Shares of NYSE MAC opened at $13.20 on Friday. The business’s fifty day moving average price is $9.88 and its 200-day moving average price is $10.31. The stock has a market capitalization of $2.84 billion, a PE ratio of -33.85, a P/E/G ratio of 1.99 and a beta of 2.06. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.90 and a quick ratio of 0.90. The Macerich Company has a one year low of $7.40 and a one year high of $21.89.

Macerich Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Wednesday, November 9th will be issued a dividend of $0.17 per share. This is a boost from Macerich’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, November 8th. This represents a $0.68 dividend on an annualized basis and a yield of 5.15%. Macerich’s dividend payout ratio is -174.36%.

Macerich Company Profile

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Macerich is a fully integrated, self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States. Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers.

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Institutional Ownership by Quarter for Macerich (NYSE:MAC)

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