Amalgamated Bank Has $1.42 Million Holdings in The Macerich Company (NYSE:MAC)

Amalgamated Bank grew its position in shares of The Macerich Company (NYSE:MAC) by 11.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 71,104 shares of the real estate investment trust’s stock after purchasing an additional 7,436 shares during the quarter. Amalgamated Bank’s holdings in Macerich were worth $1,416,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MAC. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Macerich by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,374 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 2,161 shares during the period. abrdn plc boosted its position in shares of Macerich by 9.2% during the 3rd quarter. abrdn plc now owns 42,971 shares of the real estate investment trust’s stock valued at $784,000 after purchasing an additional 3,636 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Macerich by 26.3% during the third quarter. Janney Montgomery Scott LLC now owns 47,804 shares of the real estate investment trust’s stock worth $872,000 after purchasing an additional 9,943 shares during the period. Van ECK Associates Corp increased its holdings in Macerich by 12.3% in the third quarter. Van ECK Associates Corp now owns 37,235 shares of the real estate investment trust’s stock worth $681,000 after purchasing an additional 4,086 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in Macerich by 5.6% in the third quarter. Assetmark Inc. now owns 18,404 shares of the real estate investment trust’s stock valued at $336,000 after buying an additional 971 shares during the period. Institutional investors and hedge funds own 87.38% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Scotiabank raised shares of Macerich from a “sector underperform” rating to a “sector perform” rating and set a $22.00 price objective for the company in a research report on Tuesday, December 17th. Compass Point raised their price target on shares of Macerich from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Mizuho raised shares of Macerich from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $14.00 to $22.00 in a research report on Wednesday, December 4th. Morgan Stanley raised Macerich from an “underweight” rating to an “equal weight” rating and set a $20.00 target price for the company in a research report on Wednesday, January 15th. Finally, StockNews.com lowered Macerich from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Macerich has an average rating of “Hold” and an average price target of $19.22.

Macerich Trading Up 2.0 %

Shares of Macerich stock opened at $18.40 on Tuesday. The company has a market capitalization of $4.57 billion, a P/E ratio of 47.18, a price-to-earnings-growth ratio of 0.71 and a beta of 2.50. The stock has a fifty day simple moving average of $20.17 and a 200 day simple moving average of $18.95. The Macerich Company has a 12-month low of $12.99 and a 12-month high of $22.27. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.68.

Macerich Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Tuesday, March 4th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 3.70%. Macerich’s payout ratio is -86.08%.

Insider Activity

In other Macerich news, Director Andrea M. Stephen sold 63,289 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $20.59, for a total value of $1,303,120.51. Following the completion of the sale, the director now directly owns 83,479 shares of the company’s stock, valued at approximately $1,718,832.61. This represents a 43.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

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.