abrdn plc Sells 4,424 Shares of The Macerich Company (NYSE:MAC)

abrdn plc decreased its position in shares of The Macerich Company (NYSE:MAC) by 9.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 42,015 shares of the real estate investment trust’s stock after selling 4,424 shares during the quarter. abrdn plc’s holdings in Macerich were worth $648,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in MAC. International Assets Investment Management LLC raised its stake in Macerich by 1,460.3% during the 4th quarter. International Assets Investment Management LLC now owns 324,502 shares of the real estate investment trust’s stock valued at $5,007,000 after purchasing an additional 303,704 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Macerich by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,488,816 shares of the real estate investment trust’s stock worth $48,973,000 after buying an additional 31,445 shares in the last quarter. Barclays PLC boosted its position in shares of Macerich by 91.0% during the third quarter. Barclays PLC now owns 221,834 shares of the real estate investment trust’s stock worth $2,421,000 after acquiring an additional 105,663 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Macerich by 642.9% during 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 acquiring an additional 100,131 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Macerich by 15.3% during the third quarter. Invesco Ltd. now owns 579,573 shares of the real estate investment trust’s stock valued at $6,323,000 after acquiring an additional 76,888 shares in the last quarter. Hedge funds and other institutional investors own 87.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MAC. The Goldman Sachs Group lifted their target price on Macerich from $9.00 to $13.00 and gave the stock a “sell” rating in a report on Thursday, January 11th. Truist Financial reaffirmed a “hold” rating and set a $16.00 price objective on shares of Macerich in a report on Monday, March 25th. Citigroup raised shares of Macerich from a “sell” rating to a “neutral” rating and raised their target price for the company from $8.00 to $17.00 in a report on Friday, March 22nd. Finally, StockNews.com downgraded shares of Macerich from a “hold” rating to a “sell” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.40.

Insider Activity

In other Macerich news, President Edward C. Coppola sold 50,000 shares of the company’s stock in a transaction dated 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 directly owns 655,667 shares in the company, valued at approximately $11,277,472.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Edward C. Coppola sold 50,000 shares of the stock in a transaction on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Hern Thomas E. O sold 95,000 shares of the firm’s 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 transaction, the director now directly owns 102,900 shares in the company, valued at approximately $1,743,126. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 172,964 shares of company stock valued at $2,940,030. 0.53% of the stock is currently owned by company insiders.

Macerich Stock Performance

NYSE:MAC opened at $16.01 on Tuesday. The firm has a market capitalization of $3.45 billion, a PE ratio of -12.60, a PEG ratio of 1.76 and a beta of 2.33. The stock’s fifty day moving average is $16.33 and its 200 day moving average is $14.58. The Macerich Company has a fifty-two week low of $9.05 and a fifty-two week high of $17.69. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.95 and a current ratio of 0.95.

Macerich (NYSE:MAC) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.26). Macerich had a negative return on equity of 10.26% and a negative net margin of 31.00%. The firm had revenue of $238.70 million during the quarter, compared to the consensus estimate of $224.49 million. During the same period in the previous year, the business earned $0.53 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, sell-side analysts anticipate that The Macerich Company will post 1.8 earnings per share for the current year.

Macerich Announces Dividend

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

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.