13,387 Shares in The Macerich Company (NYSE:MAC) Acquired by Cerity Partners LLC

Cerity Partners LLC bought a new position in shares of The Macerich Company (NYSE:MAC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,387 shares of the real estate investment trust’s stock, valued at approximately $207,000.

Other hedge funds have also bought and sold shares of the company. CWM LLC increased its position in shares of Macerich by 51.0% in the 3rd quarter. CWM LLC now owns 5,409 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 1,826 shares during the period. SG Americas Securities LLC raised its stake in shares of Macerich by 642.9% in the third quarter. SG Americas Securities LLC now owns 115,705 shares of the real estate investment trust’s stock worth $1,262,000 after purchasing an additional 100,131 shares during the last quarter. Raymond James & Associates raised its stake in shares of Macerich by 36.5% in the third quarter. Raymond James & Associates now owns 24,651 shares of the real estate investment trust’s stock worth $269,000 after purchasing an additional 6,588 shares during the last quarter. Vert Asset Management LLC lifted its holdings in shares of Macerich by 3.9% during the third quarter. Vert Asset Management LLC now owns 87,870 shares of the real estate investment trust’s stock worth $959,000 after purchasing an additional 3,328 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Macerich by 6.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,539 shares of the real estate investment trust’s stock valued at $900,000 after buying an additional 5,301 shares during the last quarter. Institutional investors and hedge funds own 87.38% of the company’s stock.

Macerich Price Performance

Shares of Macerich stock opened at $16.01 on Tuesday. The business has a 50 day simple moving average of $16.33 and a two-hundred day simple moving average of $14.58. 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 stock has a market capitalization of $3.45 billion, a P/E ratio of -12.60, a PEG ratio of 1.76 and a beta of 2.33. The Macerich Company has a 12 month low of $9.05 and a 12 month high of $17.69.

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). Macerich had a negative net margin of 31.00% and a negative return on equity of 10.26%. The business had revenue of $238.70 million during the quarter, compared to analyst estimates of $224.49 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. As a group, analysts predict that The Macerich Company will post 1.8 EPS for the current fiscal year.

Macerich Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend is Friday, May 17th. Macerich’s dividend payout ratio (DPR) is -53.54%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MAC shares. StockNews.com lowered shares of Macerich from a “hold” rating to a “sell” rating in a research report on Tuesday. Truist Financial restated a “hold” rating and set a $16.00 target price on shares of Macerich in a research report on Monday, March 25th. Citigroup raised Macerich from a “sell” rating to a “neutral” rating and increased their price target for the stock from $8.00 to $17.00 in a research report on Friday, March 22nd. Finally, The Goldman Sachs Group boosted their price objective on Macerich from $9.00 to $13.00 and gave the company a “sell” rating in a report on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.40.

Insider Transactions at Macerich

In related news, Director Hern Thomas E. O sold 7,964 shares of Macerich stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $16.39, for a total value of $130,529.96. Following the completion of the sale, the director now owns 197,900 shares in the company, valued at approximately $3,243,581. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Edward C. Coppola sold 50,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $17.20, for a total value of $860,000.00. Following the sale, the president now owns 655,667 shares in the company, valued at approximately $11,277,472.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Hern Thomas E. O sold 7,964 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $16.39, for a total value of $130,529.96. Following the transaction, the director now directly owns 197,900 shares in the company, valued at approximately $3,243,581. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,964 shares of company stock worth $2,940,030. 0.53% of the stock is currently owned by insiders.

About Macerich

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.