Asset Management One Co. Ltd. Has $5.54 Million Holdings in The Macerich Company (NYSE:MAC)

Asset Management One Co. Ltd. lessened its holdings in shares of The Macerich Company (NYSE:MAC) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 347,801 shares of the real estate investment trust’s stock after selling 2,814 shares during the period. Asset Management One Co. Ltd. owned about 0.16% of Macerich worth $5,544,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Commonwealth Equity Services LLC grew its position in shares of Macerich by 8.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 13,068 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 980 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of Macerich by 5.0% during the 4th quarter. Captrust Financial Advisors now owns 20,864 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 994 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Macerich by 4.3% during the 3rd quarter. Van ECK Associates Corp now owns 25,312 shares of the real estate investment trust’s stock worth $276,000 after acquiring an additional 1,049 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Macerich by 42.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,831 shares of the real estate investment trust’s stock worth $43,000 after acquiring an additional 1,136 shares during the period. Finally, Macquarie Group Ltd. lifted its holdings in shares of Macerich by 2.3% during the 3rd quarter. Macquarie Group Ltd. now owns 51,744 shares of the real estate investment trust’s stock worth $536,000 after acquiring an additional 1,171 shares during the period. Institutional investors and hedge funds own 87.38% of the company’s stock.

Insider Transactions at Macerich

In other news, President Edward C. Coppola sold 50,000 shares of Macerich stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $17.20, for a total transaction of $860,000.00. Following the transaction, the president now owns 655,667 shares in the company, valued at $11,277,472.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, President Edward C. Coppola sold 50,000 shares of Macerich stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $17.20, for a total transaction of $860,000.00. Following the completion of the transaction, the president now owns 655,667 shares of the company’s stock, valued at $11,277,472.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward C. Coppola sold 20,000 shares of Macerich stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $17.01, for a total transaction of $340,200.00. Following the transaction, the director now directly owns 635,667 shares of the company’s stock, valued at approximately $10,812,695.67. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 172,964 shares of company stock worth $2,940,030. Company insiders own 0.57% of the company’s stock.

Macerich Price Performance

Shares of NYSE:MAC opened at $15.76 on Thursday. 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 Macerich Company has a one year low of $9.05 and a one year high of $17.69. The firm has a 50 day simple moving average of $16.56 and a 200 day simple moving average of $14.14. The company has a market cap of $3.40 billion, a price-to-earnings ratio of -12.41, a PEG ratio of 1.83 and a beta of 2.33.

Macerich (NYSE:MAC) last issued its quarterly earnings results 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 analyst estimates 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 for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 EPS. Research analysts predict that The Macerich Company will post 1.8 earnings per share for the current fiscal year.

Macerich Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Friday, February 16th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.32%. Macerich’s dividend payout ratio (DPR) is presently -53.54%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Macerich from $9.00 to $13.00 and gave the stock a “sell” rating in a report on Thursday, January 11th. StockNews.com raised shares of Macerich from a “sell” rating to a “hold” rating in a report on Tuesday, March 12th. Citigroup raised shares of Macerich from a “sell” rating to a “neutral” rating and increased their price objective for the company from $8.00 to $17.00 in a research note on Friday, March 22nd. Piper Sandler increased their price objective on shares of Macerich from $12.00 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, December 20th. Finally, Truist Financial reissued a “hold” rating and issued a $16.00 price objective on shares of Macerich in a research note on Monday, March 25th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $14.40.

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.