The Macerich Company (NYSE:MAC) Shares Bought by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. raised its holdings in The Macerich Company (NYSE:MAC) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 254,100 shares of the real estate investment trust’s stock after purchasing an additional 13,420 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Macerich were worth $3,921,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new position in Macerich in the third quarter valued at $36,000. Anchor Investment Management LLC acquired a new position in Macerich in the fourth quarter valued at $40,000. CWM LLC increased its stake in Macerich by 51.0% in the third quarter. CWM LLC now owns 5,409 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 1,826 shares during the period. Advisor Partners II LLC boosted its holdings in shares of Macerich by 32.8% in the third quarter. Advisor Partners II LLC now owns 13,547 shares of the real estate investment trust’s stock valued at $148,000 after acquiring an additional 3,346 shares in the last quarter. Finally, Independent Wealth Network Inc. purchased a new stake in shares of Macerich in the fourth quarter valued at about $171,000. 87.38% of the stock is currently owned by institutional investors and hedge funds.

Macerich Stock Up 2.9 %

MAC stock opened at $16.15 on Wednesday. The company has a market cap of $3.48 billion, a P/E ratio of -12.72, a P/E/G ratio of 1.72 and a beta of 2.33. The Macerich Company has a 52 week low of $9.05 and a 52 week high of $17.69. The company’s 50-day moving average price is $16.44 and its 200 day moving average price is $14.44. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.67.

Macerich (NYSE:MAC) last released its quarterly earnings data 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 company had revenue of $238.70 million for 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 quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. On average, research analysts expect that The Macerich Company will post 1.8 earnings per share for the current fiscal year.

Macerich Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Friday, February 16th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend was Thursday, February 15th. Macerich’s dividend payout ratio is currently -53.54%.

Analysts Set New Price Targets

MAC has been the topic of several analyst reports. Citigroup raised shares of Macerich from a “sell” rating to a “neutral” rating and lifted their target price for the company from $8.00 to $17.00 in a report on Friday, March 22nd. Truist Financial reaffirmed a “hold” rating and issued a $16.00 target price on shares of Macerich in a report on Monday, March 25th. StockNews.com downgraded shares of Macerich from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Finally, The Goldman Sachs Group lifted their target price on shares of Macerich from $9.00 to $13.00 and gave the company a “sell” rating in a report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat, Macerich presently has an average rating of “Hold” and an average price target of $14.40.

Insider Buying and Selling

In other Macerich news, Director Hern Thomas E. O sold 95,000 shares of Macerich stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $16.94, for a total transaction of $1,609,300.00. Following the completion of the transaction, the director now owns 102,900 shares in the company, valued at $1,743,126. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Macerich news, Director Hern Thomas E. O sold 95,000 shares of Macerich stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $16.94, for a total transaction of $1,609,300.00. Following the completion of the transaction, the director now owns 102,900 shares in the company, valued at $1,743,126. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Edward C. Coppola sold 50,000 shares of Macerich stock in a transaction dated Tuesday, February 20th. The stock was 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 of the company’s stock, valued at approximately $11,277,472.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 172,964 shares of company stock valued at $2,940,030. Corporate 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.