The Macerich Company (NYSE:MAC) Holdings Lifted by Hsbc Holdings PLC

Hsbc Holdings PLC grew its holdings in shares of The Macerich Company (NYSE:MACFree Report) by 12.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,062 shares of the real estate investment trust’s stock after buying an additional 13,576 shares during the period. Hsbc Holdings PLC owned 0.06% of Macerich worth $1,945,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Barclays PLC boosted its position in Macerich by 91.0% during the 3rd 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 period. New York State Common Retirement Fund grew its position in Macerich by 5.3% in the 3rd quarter. New York State Common Retirement Fund now owns 113,654 shares of the real estate investment trust’s stock valued at $1,240,000 after buying an additional 5,683 shares in the last quarter. Swiss National Bank increased its stake in Macerich by 1.0% during the 3rd quarter. Swiss National Bank now owns 472,815 shares of the real estate investment trust’s stock valued at $5,158,000 after buying an additional 4,700 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Macerich by 0.7% during the 3rd 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. Finally, Van ECK Associates Corp lifted its stake in shares of Macerich by 4.3% in 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. 87.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on MAC. Scotiabank cut Macerich from a “sector perform” rating to a “sector underperform” rating and dropped their target price for the stock from $16.00 to $14.00 in a report on Friday, May 17th. StockNews.com lowered Macerich from a “hold” rating to a “sell” rating in a report on Tuesday, April 30th. Citigroup raised Macerich from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $8.00 to $17.00 in a report on Friday, March 22nd. Truist Financial reissued a “hold” rating and issued a $16.00 price target on shares of Macerich in a report on Monday, March 25th. Finally, Compass Point lowered their price objective on shares of Macerich from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Five equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Macerich presently has an average rating of “Hold” and a consensus price target of $14.71.

Read Our Latest Stock Analysis on Macerich

Insider Buying and Selling at Macerich

In other news, Director Hern Thomas E. O sold 7,964 shares of Macerich 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 transaction, the director now owns 197,900 shares in the company, valued at $3,243,581. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Hern Thomas E. O sold 7,964 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 197,900 shares in the company, valued at $3,243,581. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Hern Thomas E. O sold 95,000 shares of the company’s stock in a transaction that occurred on 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 approximately $1,743,126. The disclosure for this sale can be found here. In the last three months, insiders have bought 163,365 shares of company stock valued at $2,358,681 and have sold 122,964 shares valued at $2,080,030. Company insiders own 0.53% of the company’s stock.

Macerich Stock Performance

Shares of MAC opened at $14.92 on Friday. The company has a 50-day moving average of $15.48 and a two-hundred day moving average of $15.44. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of -9.56, a PEG ratio of 3.19 and a beta of 2.43. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.03 and a quick ratio of 1.03. The Macerich Company has a one year low of $9.21 and a one year high of $17.69.

Macerich Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 4.56%. The ex-dividend date was Friday, May 17th. Macerich’s payout ratio is -43.59%.

About Macerich

(Free Report)

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.

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Institutional Ownership by Quarter for Macerich (NYSE:MAC)

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