International Assets Investment Management LLC Raises Stock Holdings in The Macerich Company (NYSE:MAC)

International Assets Investment Management LLC raised its stake in shares of The Macerich Company (NYSE:MAC) by 1,460.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 324,502 shares of the real estate investment trust’s stock after acquiring an additional 303,704 shares during the period. International Assets Investment Management LLC’s holdings in Macerich were worth $5,007,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Point72 Hong Kong Ltd purchased a new position in shares of Macerich in the 2nd quarter valued at about $29,000. Harvest Fund Management Co. Ltd acquired a new stake in Macerich in the 3rd quarter worth about $36,000. Anchor Investment Management LLC acquired a new stake in Macerich in the 4th quarter worth about $40,000. Northwestern Mutual Wealth Management Co. boosted 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 purchasing an additional 1,136 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Macerich by 51.0% during the 3rd quarter. CWM LLC now owns 5,409 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 1,826 shares during the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MAC. StockNews.com raised shares of Macerich from a “sell” rating to a “hold” rating in a research report on Tuesday, March 12th. Citigroup raised Macerich from a “sell” rating to a “neutral” rating and boosted their target price for the company from $8.00 to $17.00 in a research report on Friday, March 22nd. Truist Financial reiterated a “hold” rating and issued a $16.00 price objective on shares of Macerich in a research note on Monday, March 25th. The Goldman Sachs Group increased their target price on Macerich from $9.00 to $13.00 and gave the company a “sell” rating in a report on Thursday, January 11th. Finally, Piper Sandler raised their price target on Macerich from $12.00 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $14.40.

Macerich Price Performance

MAC stock opened at $15.97 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.67. The Macerich Company has a 12-month low of $9.05 and a 12-month high of $17.69. The company has a market cap of $3.45 billion, a price-to-earnings ratio of -12.57, a PEG ratio of 1.80 and a beta of 2.33. The firm has a 50 day moving average of $16.59 and a 200-day moving average of $14.27.

Macerich (NYSE:MAC) last released its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.26). The firm had revenue of $238.70 million during the quarter, compared to analysts’ expectations of $224.49 million. Macerich had a negative return on equity of 10.26% and a negative net margin of 31.00%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 earnings per share. As a group, equities analysts expect that The Macerich Company will post 1.81 EPS for the current fiscal year.

Macerich Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Friday, February 16th were paid a dividend of $0.17 per share. The ex-dividend date was Thursday, February 15th. This represents a $0.68 annualized dividend and a dividend yield of 4.26%. Macerich’s dividend payout ratio is presently -53.54%.

Insider Activity

In related news, Director Hern Thomas E. O sold 7,964 shares of Macerich stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $16.39, for a total transaction of $130,529.96. Following the transaction, the director now owns 197,900 shares in the company, valued at approximately $3,243,581. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Macerich news, President Edward C. Coppola sold 50,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $17.20, for a total value of $860,000.00. Following the transaction, the president now owns 655,667 shares in the company, valued at approximately $11,277,472.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hern Thomas E. O sold 7,964 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $16.39, for a total transaction of $130,529.96. Following the completion of the transaction, the director now owns 197,900 shares in the company, valued at approximately $3,243,581. The disclosure for this sale can be found here. Insiders sold 172,964 shares of company stock valued at $2,940,030 in the last ninety days. Company insiders own 0.57% of the company’s stock.

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.