Van ECK Associates Corp Sells 7,122 Shares of The Macerich Company (NYSE:MAC)

Van ECK Associates Corp cut its holdings in shares of The Macerich Company (NYSE:MACGet Rating) by 36.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,416 shares of the real estate investment trust’s stock after selling 7,122 shares during the period. Van ECK Associates Corp’s holdings in Macerich were worth $99,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Cadence Wealth Management LLC lifted its holdings in Macerich by 7.6% during the 2nd quarter. Cadence Wealth Management LLC now owns 14,729 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 1,046 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Macerich by 4.9% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 27,710 shares of the real estate investment trust’s stock worth $241,000 after buying an additional 1,293 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in Macerich by 1.4% during the 1st quarter. Yousif Capital Management LLC now owns 120,805 shares of the real estate investment trust’s stock worth $1,889,000 after buying an additional 1,700 shares in the last quarter. Xponance Inc. lifted its holdings in Macerich by 5.7% during the 2nd quarter. Xponance Inc. now owns 33,139 shares of the real estate investment trust’s stock worth $289,000 after buying an additional 1,773 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in Macerich by 3.5% during the 1st quarter. Quantbot Technologies LP now owns 51,821 shares of the real estate investment trust’s stock worth $810,000 after buying an additional 1,775 shares in the last quarter. 80.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MAC has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their price objective on Macerich from $13.00 to $16.00 in a report on Monday, December 5th. TheStreet raised Macerich from a “d+” rating to a “c-” rating in a research note on Thursday, November 17th. Piper Sandler increased their price target on Macerich to $9.00 in a research note on Wednesday, November 16th. StockNews.com initiated coverage on Macerich in a research note on Wednesday, October 12th. They issued a “sell” rating on the stock. Finally, Evercore ISI cut their price target on Macerich from $13.00 to $11.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 27th. Six analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Macerich presently has a consensus rating of “Hold” and an average price target of $12.65.

Macerich Price Performance

MAC stock opened at $12.14 on Friday. The stock has a 50-day moving average price of $12.24 and a two-hundred day moving average price of $10.65. The stock has a market cap of $2.61 billion, a PE ratio of -31.13, a price-to-earnings-growth ratio of 2.52 and a beta of 2.04. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.46. The Macerich Company has a 1 year low of $7.40 and a 1 year high of $17.63.

Macerich Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 2nd. Shareholders of record on Wednesday, November 9th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 5.60%. The ex-dividend date was Tuesday, November 8th. This is a boost from Macerich’s previous quarterly dividend of $0.15. Macerich’s dividend payout ratio is -174.36%.

Insiders Place Their Bets

In other Macerich news, CAO Christopher J. Zecchini sold 2,000 shares of the stock in a transaction dated Tuesday, November 29th. The stock was sold at an average price of $12.65, for a total transaction of $25,300.00. Following the completion of the transaction, the chief accounting officer now owns 7,458 shares in the company, valued at approximately $94,343.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.77% of the company’s stock.

Macerich 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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