The Macerich Company (NYSE:MAC) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its position in The Macerich Company (NYSE:MACGet Rating) by 42.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,286 shares of the real estate investment trust’s stock after selling 77,083 shares during the period. SG Americas Securities LLC’s holdings in Macerich were worth $844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in MAC. Prudential Financial Inc. increased its position in shares of Macerich by 1,536.8% in the 1st quarter. Prudential Financial Inc. now owns 4,783,022 shares of the real estate investment trust’s stock valued at $74,806,000 after acquiring an additional 4,490,809 shares during the period. State Street Corp increased its position in shares of Macerich by 13.0% in the 1st quarter. State Street Corp now owns 12,904,044 shares of the real estate investment trust’s stock valued at $201,819,000 after acquiring an additional 1,482,622 shares during the period. AQR Capital Management LLC boosted its holdings in Macerich by 103.8% in the second quarter. AQR Capital Management LLC now owns 2,766,340 shares of the real estate investment trust’s stock valued at $23,542,000 after purchasing an additional 1,409,191 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Macerich by 497.2% in the second quarter. Federated Hermes Inc. now owns 946,122 shares of the real estate investment trust’s stock valued at $8,241,000 after purchasing an additional 787,700 shares during the last quarter. Finally, AXS Investments LLC purchased a new stake in Macerich in the second quarter valued at $4,841,000. 80.81% of the stock is owned by institutional investors and hedge funds.

Macerich Price Performance

Macerich stock opened at $12.14 on Friday. The company’s fifty day moving average price is $12.24 and its 200 day moving average price is $10.65. The Macerich Company has a 1 year low of $7.40 and a 1 year high of $17.63. The stock has a market capitalization of $2.61 billion, a P/E ratio of -31.13, a P/E/G ratio of 2.52 and a beta of 2.04. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.90 and a current ratio of 0.90.

Macerich Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 2nd. Investors of record on Wednesday, November 9th were paid a $0.17 dividend. The ex-dividend date was Tuesday, November 8th. This represents a $0.68 dividend on an annualized basis and a yield of 5.60%. This is a boost from Macerich’s previous quarterly dividend of $0.15. Macerich’s dividend payout ratio (DPR) is currently -174.36%.

Analysts Set New Price Targets

MAC has been the topic of several recent research reports. Evercore ISI lowered their price target on shares of Macerich from $13.00 to $11.00 and set an “in-line” rating on the stock in a report on Tuesday, September 27th. Truist Financial upped their price target on shares of Macerich from $13.00 to $15.00 in a report on Friday, December 16th. Piper Sandler upped their price target on shares of Macerich to $9.00 in a report on Wednesday, November 16th. TheStreet raised shares of Macerich from a “d+” rating to a “c-” rating in a report on Thursday, November 17th. Finally, Mizuho increased their target price on shares of Macerich from $10.00 to $11.00 in a research note on Friday, December 2nd. Six 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.65.

Insider Activity at Macerich

In related news, CAO Christopher J. Zecchini sold 2,000 shares of Macerich stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $12.65, for a total value of $25,300.00. Following the sale, the chief accounting officer now owns 7,458 shares of the company’s stock, valued at approximately $94,343.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.77% of the stock is owned by corporate insiders.

About Macerich

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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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